June 14, 2024

Biden Ripped Over Claims His Economy Is Improving Americans’ Lives

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OPINION: This article might include commentary which displays the creator’s opinion.


President Joe Biden bizarrely argued throughout an interview earlier this week that his financial insurance policies had been profitable although costs for probably the most obligatory client items have spiked 25–30 % since he took workplace.

“We got to be steady, stay the course, and continue to produce these incredible jobs, and the job — and by the way, pay for the jobs are — are outpacing the inflation rate they’re paying. We’re — we’re going to — we’re going to be able to deal with this. Gonna take a little more time. We’re just focused on it,” Biden claimed.

The president’s collective financial insurance policies have been coined “Bidenomics,” however in line with a number of polls, a majority of Americans discover their private funds are amongst their prime considerations heading into the 2024 election.

“Inflation cooled slightly in April, but even the slower price increases revealed this week still added to a tally that is perhaps the Biden campaign’s most intractable economic challenge in the 2024 campaign season. Prices as measured by the seasonally adjusted Consumer Price Index (CPI) are now up over 19.4% in the three-plus years since Biden took office,” Yahoo! Finance reported on Wednesday. “For comparison’s sake, prices rose just under 7.8% during the four years of Donald Trump’s presidency.”

WATCH:

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The New York Post editorial board additionally weighed in, claiming that Biden is “gaslighting” the nation on the economic system:

Good information: Inflation eased a tiny bit within the newest Consumer Price Index numbers. Bad information: Most different indicators recommend extra bother, not much less, forward.

CPI for April got here in at 3.4% greater than a 12 months in the past — easing from March’s 3.5% spike. But we’re nonetheless at ranges nicely above what Federal Reserve chief Jerome Powell needs.

And the Producer Price Index for April noticed a 0.5% rise, above economists’ 0.3% prediction — and PPI typically signifies the place CPI is headed, since producers have little alternative however to cross greater prices on to shoppers.

The board went on to notice that client confidence is now the bottom it has been since July 2022, when the inflation fee was 8.5 %. And present rates of interest for mortgages and auto loans, amongst different lending, are at 23-year highs, with the Fed chairman not promising they are going to go down anytime quickly.

The present financial state of affairs leaves the working and center class squeezed, accumulating extra debt. Americans have already exhausted their pandemic financial savings whereas bank card balances soar. Meanwhile, job development slowed final month, with most new jobs in authorities and well being care (a sector closely influenced by authorities), indicating stagnant private-sector employment. The specter of stagflation looms giant, the board famous.

“By every metric, Bidenomics has miserably failed Americans; prices are now up an average 20% over Inauguration Day 2021,” the board wrote.

“The president’s response? Lie outright, insist you have the money to cover your soaring grocery bills and hope enough people believe him that he can get voted in for Round 2 in November. Gas prices may be up, but Joe Biden’s gaslighting keeps getting cheaper,” the board concluded.

As Biden and his administration proceed to try to persuade Americans that their lives are higher below his financial insurance policies, the truth for a rising majority is that no, life was significantly better below former President Donald Trump. And in truth, a damning new statistic is prone to additional endanger Biden’s reelection probabilities.

“Many people of all races, and especially younger voters, are dismissing President Joe Biden’s claim that ‘they have the money to spend,’ with some revealing that they went without food one day last month,” the Washington Examiner reported Friday, citing a brand new ballot.

“In an unusual survey that tapped into the hurt many feel from inflation, minorities, young voters, and those with just a high school education suffered from food “insecurity,” Zogby Analytics mentioned,” the outlet reported. At least 14 % of respondents mentioned they went not less than a day with out meals in April.

Blacks, a reliably Democratic voting bloc that has more and more shifted to Trump and that Biden is trying to carry collectively have been particularly hard-hit by his Bidenomics, which has produced record-high and sustained excessive foot costs.

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