Democratic senator praises Biden’s handling of US economy, but undermines it.

Sen. Tom Carper (D-DE) Bets Against US Economy Despite Prior Praise for President Biden

Records show that Sen.‍ Tom Carper, a close ally of⁤ President Joe Biden, ‌recently made a bet against the United States economy, ⁢contradicting his previous praise for the president’s handling of it.

On May 25, Carper thanked Biden for fostering a “resilient” economy that ⁤was “growing stronger every day” and supporting working families across Delaware and the country.

Contradictory Actions

However, despite his bullish statement, Carper purchased up to $95,000 worth of shares in Ranger Equity Bear ETF and ProShares Short QQQ, two funds that allow investors to hedge against recessions. This investment was revealed in a financial disclosure filed ‍by Carper and reported by ⁢the Washington Free Beacon.

This move seems to contradict Carper’s previous claims about job growth and economic success under Biden, whom he⁤ has ‍referred to as a “dear friend.” In return, the president has ​praised Carper’s dedication to the people of⁤ Delaware.

Fitch Downgrade and Republican Criticism

On Tuesday, the rating agency Fitch downgraded the U.S. government’s credit, citing “eroded confidence in⁢ fiscal management” and “fiscal deterioration.” This resulted in a decline in stock values on Wednesday. While Biden touts significant job growth, ⁤Republicans argue that it has not yet ⁤reached pre-pandemic levels.

Carper’s Stock Trades

Carper’s office has previously stated that his stock trades are handled independently by a financial⁢ adviser. However, the Washington Free Beacon reported that Carper’s recent investment decisions contradict his public statements.

A spokesperson for Carper did not⁣ respond to a request for comment.