Galesburg Reporter

Illinois 17th Congressional District candidate Joe McGraw criticized Bidenomics in a June 17 Facebook post, saying the President's family, donors, or "special interests" are benefiting from the economy while it fails to help the American people. He called it a "failure" that "belongs in the trash."

"Joe Biden can say the economy is doing great all he wants, but unless you're one of his family members, his donors or his special interests, you aren't seeing it in your life," said Judge Joe Mcgraw, according to Facebook. "Bidenomics has been a failure from the start and it belongs in the trash."

In his Facebook post, McGraw shared a link to a Fox Business article focusing on home foreclosures. The article discussed a report from ATTOM, a real estate data provider. According to ATTOM’s information, in May, there were 32,621 properties under foreclosure. This figure is down 7% from May 2023 but represents a 3% increase in foreclosure filings for 2023 overall. Foreclosure filings include not just bank repossessions but also default notices and scheduled auctions.

Screenshot of Judge Joe McGraw's June 17 Facebook post | Judge Joe McGraw Facebook page

The article also points out that the supply of available homes is down more than 34% compared to early 2020, before the COVID-19 pandemic began, according to Realtor.com.

The Fox Business article also says that elevated mortgage rates have made sellers reluctant to sell after locking in record-low mortgage rates of 3% during the pandemic. This has resulted in fewer homes being available for buyers looking to purchase a home. Mortgage rates have fallen recently; according to Freddie Mac, the average rate on a 30-year loan fell to 6.95%. This is still below the peak of 7.7% reached in autumn of 2023.

The 17th Congressional District includes Carroll, Fulton, Henry, Knox, McDonough, Mercer, McLean, Peoria, Rock Island, Stephenson, Tazewell, Warren, Whiteside and Winnebago counties.

McGraw officially declared his candidacy for the 17th Congressional District in mid-October. He is poised to challenge the incumbent U.S. Representative Eric Sorensen (D-Ill.), who secured a narrow victory in 2022. According to Pantagraph, McGraw’s campaign places a strong emphasis on law-and-order principles and utilizes his extensive judicial background to address issues related to urban crime and immigration. His policy stances include advocating for the construction of a border wall, endorsing comprehensive immigration reform, and championing state regulation over federal intervention in matters pertaining to abortion.