The truth about Bidenomics

The truth about Bidenomics

Joe Biden is trying to coin the phrase "Bidenomics" to describe what I can only imagine as a parallel universe where he believes the U.S. economy is thriving thanks to his economic policies.

Unfortunately for all of us, the reality doesn't match his perception.

Both on Twitter and during a speech in Chicago, Biden repeatedly touted "Bidenomics" as he attempts to sell Americans on his economic record. For example, in one tweet he (or his handlers) wrote:

"We’ve added over 13 million jobs – more jobs in two years than any president has added in a four-year term. And that’s no accident. That’s Bidenomics."

While technically true, most of these jobs were due to post-pandemic return to office - not newly created jobs.

The entire "Bidenomics" schtick is built on lies and misdirection.

Here are 5 facts that expose "Bidenomics"

📈 Rampant inflation: The U.S. has had 4% or higher inflation for 26 straight months under Joe Biden, peaking at 9.1% in June 2022. In the four years prior, it averaged roughly 2%.

🔒 Overregulation: The regulations that Biden has put on the American economy have cost Americans roughly $10,000 per household.

💳 Credit card debt: Americans have roughly $1 trillion in credit card debt - a $250 billion increase since Biden took office.

⛽️ Gas prices: Joe Biden handed Americans a new record-high national average of $5.01 last summer. And while it's now down to $3.54, that's still considerably higher than the $2.37 average when Trump left office.

📉 Declining wages: Real average hourly earnings have fallen 3.16% during Biden's presidency, according to the Bureau of Labor Statistics.

And the American public knows "Bidenomics" is BS. A recent Fox News poll found that just 20% of Americans say Biden's economic policies are helping them.

[Source: WSJ, Fox News, Statista, EIA, The Hill]

https://www.wsj.com/articles/bidenomics-joe-biden-average-hourly-earnings-bureau-of-labor-statistics-8d4b1545
https://www.foxnews.com/politics/biden-regulations-cost-americans-10000-per-household-study
https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W
https://thehill.com/business/personal-finance/4023009-americans-owe-1-trillion-in-credit-card-debt