LETTERS TO THE EDITOR
Bidenomics is Spin Economics
“Americans, particularly working and middle-class Americans, are poorer today than they were during the Trump Administration”, writes Andy Puzder in the NATIONAL REVIEW”. That is why only 38% of Americans approve of Biden’s job on the economy.
Inflation is the enemy of the consumer. As it goes up, our money buys less.
The Biden Administration claims that inflation has fallen. In fact, inflation was at 1.4% when Biden took office. It is now at 4.0 % and still rising. Biden’s “spin” reflects a statistical nuance. The rate of increase in inflation has slowed BUT inflation is still increasing. Biden’s claim that inflation is less than half of what it was a year ago is at best misleading. Since Biden took office, inflation has actually increased by nearly 13%.
Bidenomics is actually competing with Federal Reserve efforts to reduce inflation. The Fed’s program to raise interest rates has in fact slowed the growth in the rate of inflation. On the other hand, Biden’s $1.9 Trillion American Rescue Plan has pumped up the economy with severe inflationary pressures.
Biden claims,” wages are up, accounting for inflation, that’s real breathing room” for the public. In fact, real average hourly earnings were $11.03 in May 2023, down from $11.39 when Biden took office.
So, in my view, Bidenomics is just another way the Democrats are lying to the public. Harry Reed lied in the Senate when he told us Mitt Romney did not pay his taxes. Nancy Pelosi lied when she (and others) promised we could keep our own Doctors under Obamacare. In each of those cases they recanted at a later date bragging, “it won the vote, didn’t it?”
We need to be on guard for Biden spin trying to mislead us.