President Joe Biden is in the middle of a winning streak over his supposed economic successes – but the numbers show again and again that his arguments for Bidenomics are pure disinformation.
“It’s working,” he cheered Tuesday to a Milwaukee audience during a reelection campaign tour.
No, it’s not.
First off, the average American is spending $709 more per month on essential goods and services like groceries than they were two years ago.
That’s a staggering annual increase of $8,508.
In fact, inflation has been 15% since Biden took office. Focus on basic necessities (like groceries, utility bills, mortgages) and prices are up almost 25%.
Have wages and salaries kept pace? That’s a big no: They’ve risen less than inflation in all but two of the last 22 months.
Blame Biden’s spending on drunken sailors, which sent an already hot economy into an inflationary frenzy, after he and his supporters dismissed growing concerns – including from liberal economists – that the Democrats’ American Recovery Act could lead to drastic price hikes.
But for all the damage done, Team Biden can’t stop lying about it: Last week, for example, the White House bragged that the Inflation Reduction Act — the biggest misnomer in legislative history — “is already having a significant impact on American workers.” and families.”
But that same week, Biden admitted the IRA did so Strictly speaking All about green subsidies.
And with its ongoing effort to cancel billions of dollars in student debt, it’s still aiming to boost inflation — and it’s true Also a direct transfer of wealth from the less affluent and less educated to the more affluent and educated.
Biden’s lies about the economy are nothing new.
Check out his February claim: “We’ve created more jobs in two years than any other president in his entire tenure.”
No: Those were jobs lost to the overreactions of COVID policies back during the long and tepid employment recovery he oversaw.
The overall Biden strategy here seems to be just to lie and lie and lie while liberal journalists rip-off and assume that everyday voters will buy it.
Big Mistake: Every trip to buy milk or fill up gas proves what a disaster Bidenomics was.
On the other hand, Joe and his advisors don’t see that because they all have little people doing the shopping for them.