Biden Continues to Push His ‘Bidenomics’ Agenda; Voters Aren’t Buying It

Contact Your Elected Officials
The Epoch Times Header

President Joe Biden is confident in the success of his “Bidenomics” economic strategy and the benefits it would offer middle-class Americans, yet the majority of voters are still unfamiliar with or skeptical of his economic vision.

While unemployment hovers around historically low levels, there has been a significant drop in inflation compared to last year, a point frequently underscored by President Biden.

Annual inflation slowed to 3.2 percent in July from a peak of 9.1 percent a year ago.

“Todayโ€™s numbers show our economy remains strong. Annual inflation has fallen by around two-thirds since last summer, and real wages are up for working folks this year,” the president wrote on Aug. 10 on social media following the release of July inflation data.

“We’ve done this while maintaining near-record low unemployment and strong economic growth. That’s Bidenomics.”

However, Americans don’t feel much better when they go grocery shopping or to the gas station to fill up their tanks. That’s because of the cumulative price increases they’ve experienced since President Biden took office.

Overall, prices have surged by almost 17 percentโ€”about 20 percent for food, more than 53 percent for gasoline, and 16 percent for housingโ€”during President Bidenโ€™s 2 1/2 years in the White House.

Yet the president, who is seeking reelection in 2024, avoids taking responsibility for high inflation. He has consistently communicated to the American people that the primary reasons for the elevated prices are Russia’s invasion of Ukraine and the pandemic, which has disrupted supply chains.

As rising prices continue to strain household budgets, credit card debt has hit $1 trillion for the first time, according to the Federal Reserve Bank of New York. Total household debt reached $17.06 trillion in the second quarter of 2023, rising by $2.5 trillion since President Biden took office.

Bankruptcies Rise

Businesses are also experiencing financial strain. The president accuses them of price gouging and profiteering, yet many businesses, large and small, are grappling with rising operational and borrowing costs. Furthermore, there has been a noticeable uptick in the number of bankruptcies this year.

Byย Emel Akan

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Transitioning from Regulatory Sclerosis to Arbitrary State Capitalism

The Trump administration is moving from reducing the size and regulatory power of the federal government to the formation of State Capitalism.

Gen Z and Crystallized Intelligence

Weโ€™ve created a new malaise: media fatigue and information overload, or โ€œdata smog,โ€ which has sharply accelerated in recent years.

Meet the Fairy From Hell in Charge of Vaccines at CDC Until Last Week

Picture the creepiest leather-daddy gimp at your local Prideโ„ข festival. Thatโ€™s this guy, Demetre Daskalakis, who ran the entire federal govt vaccine program.

The Clinton-Epstein Connection We Did Not Know

One attorney's inside info about D.C. and the relationship the Clintonโ€™s had with the late child sex pedophile Jeffrey Epstein

Faith under fire

Over half of historyโ€™s 70M Christian martyrs were killed in the 20th century, amid totalitarian regimes, purges, and ethnic violence.

Grand Jury Declines to Indict Woman Who Threatened Trump

A grand jury has declined to indict a woman who threatened President Donald Trump on social media, her lawyers said on Sept. 1.

Trump Admin Violated Law With Troop Deployment in LA, Judge Rules

A federal judge in California has ruled that the Trump administration unlawfully used Marines and National Guard troops in Los Angeles.

Kentucky Ends In-State College Tuition for Illegal Immigrants After DOJ Lawsuit

Kentucky agreed to end a policy that had allowed illegal immigrants to access in-state college tuition rates, following a lawsuit by the DOJ.

Gold Hits All-Time High Amid Rate Cut Expectations

Gold prices hit an all-time high on Tuesday amid expectations of an interest rate cut and growing uncertainty related to tariffs.

Trump Takes Aim at Crime in Chicago After Dozens Shot Over Weekend

President Trump said that he will โ€œsoonโ€ take actions to deal with crime in Chicago, weeks after he sent National Guard troops to Washington, D.C.

Trump Says India Offered Zero Tariffs After Decades of โ€˜One-Sidedโ€™ Trade

President Trump said India offered to cut tariffs on U.S. goods to zero, calling it a long-overdue fix for decades of one-sided trade.

Trump Says He Will Issue Executive Order to Require Voter ID

โ€œVoter I.D. Must Be Part of Every Single Vote. No exceptions!โ€ Trump wrote on a post on Truth Social. โ€œI Will Be Doing An Executive Order To That End!!!โ€

Appeals Court Rules Most of Trumpโ€™s Tariffs Are Illegal

The judges let the import taxes stay in place...
spot_img

Related Articles