We’ve seen Joe Biden make up all kinds of stories during his time in office.
Perhaps one of the things that affects all of us the most is his claim that “Bidenomics” is working, that somehow he’s made things so much better for Americans with his “plan.”
Listen as he claims he’s “lowered costs”—and that’s “Bidenomics.”
However, CNN managed to blow that up with a little reality. When even CNN is doing in Joe Biden, you know how bad it must be. But it’s hard to argue with the numbers and the real impact this is having on Americans.
Business reporter Matt Egan explained the results from Moody’s Analytics’ Mark Zandi, that the typical US household is spending $709 more each month than two years ago — on the same goods and services. Brianna Keilar did the math, and observed that the huge increase added up to more than $8,500 a year. Egan explained that’s why some families are having trouble getting by. No kidding. That kind of an increase can do you in, especially if you’re on a tight budget.
Egan said that while we aren’t near the “nightmare numbers” of last summer under Joe Biden, “inflation can be cumulative.” In other words, Bidenflation has done a lot of economic damage. He said we’re still facing the snowballing effect of two years of price spikes. He also said people were having to spend more on everything from housing and groceries to cars and recreation.
While CNN is terming inflation as having “cooled,” as we reported, it took an uptick from June. So yes, it’s cooled from the highs of 2022, but it just went up again and it’s still higher than what it was when Joe Biden came in. And we’re all still spending a lot more. Energy prices were also up—something we’re again seeing reflected in the gas prices, which have ticked up again.
On top of that, interest rates have been jacked up to try to cool the rampant inflation that Biden helped to make higher with his rampant spending. They’re at a 22-year high. So, we’re paying more for everything that way as well, and that’s making it very hard to do things like buy a house when you consider what you might now have to pay with the rates.
We saw Fitch just downgrade us for only the second time in history. The first time was under Obama/Biden. So, Biden has been in the mix both times.
That doesn’t sound like “restoring the American dream.” Indeed, it sounds like he’s doing everything he can to kill the American dream. Not to mention making us beholden to and at the mercy of foreign governments with his bad energy policies.
This perhaps explains why his poll numbers, particularly on the economy are so bad — because this is continually hitting people right in the wallet. As CNN’s Harry Enten says when you look at his approval on the economy, “It stinks.”
People weighed in on their opinion of this report and Joe Biden’s “Bidenomics.”