If you are a Democratic president running for reelection, how badly do you have to screw up to get CNN to trash you?
On a scale of one to ten, I rate Biden a solid thirteen. What i find amusing is that Joe Biden stands up in front of the hurting American people and with a straight face and claims that Bidenomics is working.
Either he is delusional or he thinks that bankrupting Americans is a success.
Listen as he claims he’s “lowered costs”—and that’s “Bidenomics.”
Thanks to Bidenomics, we’re restoring the American dream. pic.twitter.com/zhqyxlaQ8n
— Joe Biden (@JoeBiden) August 10, 2023
Matt Egan of CNN blows up that narrative with a little online reality. Biden claims that he has created millions of jobs but the reality is that most of those jobs are the result of the reopening of the economy after the COVID lockdowns and the unemployment numbers are fake because the Biden administration was forced to admit that five million unemployed Americans are no longer considered unemployed.
Inflation is cooling but there's been a snowballing effect from two years of price spikes.
Moody's Analytics @Markzandi finds that the typical US household is spending *$709* more per month than two years ago — on the same goods & services. More with @brikeilarcnn pic.twitter.com/YoAw8IkzpR
— Matt Egan (@MattEganCNN) August 11, 2023
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. That is on the exact same goods in the very same quantities. That comes out to about $8,500 a year. Yep, sounds like that is working for me, how about you? That means there are a lot of families having a hard time making ends meet. That also explains why credit card debt is exploding.
Egan says they may not be the horrendous numbers we saw last year as far as inflation goes but that inflation is cumulative and the rapid increase in inflation numbers of last year and the lower inflation number of this year must be added together and then compared to an increase in paychecks. The huge influx of illegal aliens is bringing down the average income as their cheap labor makes them a more desirable hire.
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.”