Bidenomics Is A Bust

A key inflation metric the Federal Reserve closely monitors increased to 3.3% in July on an annualized basis, while core inflation ticked up to 4.2%. I’ve heard a number of commentators try to downplay the increase by suggesting that if you exclude food and energy prices, it’s not so bad. 

Well, sure! Every family would love to have a budget where they didn’t have to pay for food and energy. But that’s not reality. 

The unfortunate reality is that 61% of Americans are living paycheck-to-paycheck. And energy costs are only going to get worse as Biden imposes more and more restrictions on energy production. 

This is Bidenomics, and it’s a total bust. And yet we continue to spend money we don’t have, which means more inflation. Working-class and middle-class Americans are getting crushed every day by Biden’s price hikes.

Unfortunately, there’s a lot of misinformation about inflation coming from the Biden White House and its media propagandists. For example, inflation peaked just above 9% in 2022. It’s down to 4%, so Biden is bragging that he’s cut inflation in half. No, he didn’t -- it’s still going up! 

The 4% increase is on top of the 9% increase! That’s nothing to celebrate.

If something increases in price from $10 to $12 dollars, that’s a 20% increase. If it then goes from $12 to $13, you don’t celebrate the fact that the inflation is going down. The total inflation is now 30%.

The rate of inflation or the rate of price increases may be declining, but, overall, prices are still increasing under Biden and they are soul-crushing to millions of Americans. 

Our money is being permanently devalued by the big government, big spending progressive left.a