Ed Dowd claims Biden admin used crisis level spending to secure election victory
- Ed Dowd claims the Biden Administration engaged in crisis level spending during the election year of 2024.
- He indicates that 10-15 million illegal immigrants entered the U.S. in the last four years, enhancing economic stimulus.
- Consequences of this spending and immigration claim include rising health insurance costs and potential future economic revisions.
In the United States during the election year of 2024, former Wall Street money manager Ed Dowd presented data suggesting the Biden Administration was engaging in crisis-level spending. This spending occurred alongside an increased deficit to GDP ratio, which Dowd claimed was akin to that seen during actual crises such as the Great Financial Crisis of 2008-2009. He noted that the deficit was 8% during this election year, invoking the question of what the actual crisis was. Dowd's assertion is that the 'crisis' was orchestrated to secure the re-election of the Biden Administration and Kamala Harris. Dowd elaborated on how this strategy involved substantial hiring within government agencies, which he believed was designed to bolster an economy perceived as failing. Furthermore, he discussed the rise in illegal immigration, estimating the entry of 10 to 15 million undocumented immigrants into the country over the past four years. He argued that these individuals contributed to economic stimulation by increasing the velocity of money as they received financial assistance. In parallel, he claimed that the data used to assess economic health was misleading, suggesting discrepancies in job numbers and gross domestic product (GDP) figures. According to Dowd, the consequences of this fiscal approach include elevated risks such as the deterioration of economic data leading to future GDP revisions, amid a backdrop of increased disability claims linked to health concerns raised by the COVID-19 pandemic. He stated that the repercussions could manifest in skyrocketing health insurance costs, making such coverage unaffordable for many citizens. Additionally, Dowd asserted that the repercussions of government spending and unaccounted statistics would exacerbate upcoming economic challenges. He further commented on the likelihood of a shift in policies should former President Donald Trump regain office, predicting mass deportations and significant reductions in government spending. Dowd’s insights, which are based on his research surrounding sudden deaths and health issues in recent years, reflect a broader discourse on the implications of governmental policies on the economy and citizen well-being.