# Peter Schiff Says U.S. Economy Worse Than Biden Exit
*Euro Pacific chief economist warns of stagflation and 2028 Democratic socialist threat amid rising national debt.*

- Medio: Civic Coast News (https://civiccoastnews.com)
- URL: https://civiccoastnews.com/noticia/peter-schiff-says-us-economy-worse-than-biden-exit
- Sección: Politica
- Autor: Civic Coast News Staff
- Publicado: 2026-08-21T07:09:23.956Z
> Peter Schiff argues the U.S. economy has deteriorated since Joe Biden's term ended, warning of stagflation and predicting Democratic gains in 2028 due to Republican economic policies.

## Las claves

- Schiff claims US economy is worse than when Biden departed
- National debt surpasses $40 trillion milestone
- Warning of 2028 socialist threat and stagflation

Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management, stated that the United States economy is currently in a "worse" condition than it was when former President Joe Biden departed office last year. In an interview with Fox News Digital on August 19, Schiff argued that current economic indicators suggest significant deterioration under the Trump administration. He asserted that while Donald Trump campaigned on fixing what he claimed were errors made by his predecessor, the economic reality has shifted unfavorably for the incumbent.

### Economic Deterioration and Inflation

Schiff highlighted inflation as a primary concern, noting that price increases are now more severe than when Trump was initially elected. He pointed out that promises made regarding immediate price reductions have not materialized according to his assessment. The economist emphasized that the current financial climate presents challenges for President Trump's approval ratings, particularly ahead of critical midterm elections. Schiff suggested that the Republican Party faces a difficult political landscape because addressing these economic issues through free-market principles might be viewed as "political suicide" by voters.

### Political Implications and 2028 Outlook

Beyond immediate economic metrics, Schiff offered predictions for future electoral outcomes. He expressed the view that Republicans hold majorities in Congress but are at risk of losing House seats in this year's midterms. Furthermore, he warned of a potential loss of Senate control and predicted that the Democratic Party could win the presidency in 2028. Schiff characterized this potential outcome as a "threat" from a "real Democratic socialist," suggesting that voter dissatisfaction with current economic management will drive political change.

### Debt Crisis and Investment Advice

The U.S. Treasury reports that the national debt has surpassed $40 trillion for the first time in history. Schiff attributed these fiscal challenges to "central planning" and government interference rather than a failure of capitalism itself. He advocated for massive cuts to government spending, deregulation, and reliance on free-market forces as solutions. For investors, he recommended diversifying into international stocks to protect against a weak U.S. dollar and buying precious metals like gold and silver to preserve purchasing power amid anticipated stagflation.
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Fuente original: https://civiccoastnews.com/noticia/peter-schiff-says-us-economy-worse-than-biden-exit