President Joe Biden is in the middle of a victory tour over his supposed economic successes — but the numbers keep showing his arguments for Bidenomics are pure disinformation.
“It’s working,” he crowed Tuesday to an audience in Milwaukee on a re-election campaign tour stop.
Not, it’s not.
For starters: Average Americans are spending $709 more per month on everyday goods and services like food than they were two years ago.
That’s an eye-watering $8,508 yearly bump.
Indeed, inflation since Biden took office totals 15%. Focus on daily essentials (like food, power 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 past 22 months.
Blame Biden’s drunken-sailor spending, which sent an already hot economy into an inflation conflagration after he and his enablers dismissed and denied growing concerns — including from liberal economists — that Democrats’ American Recovery Act risked spiraling price hikes.
Yet 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 greatest misnomer in legislative history — is “already having a significant impact on American workers and families.”
Yet, in the same week, Biden admitted the IRA was actually all about green subsidies. --->READ MORE HERE
President Biden’s victory tour on the economy rolls on.
On Wednesday, he’s “celebrating” the first anniversary of the “Inflation Reduction Act,” a bill even he now admits was a lie.
Earlier, Biden proclaimed that the latest economic statistics “are evidence that our policies are working for American families.”
But for a White House that says it’s committed to combating “misinformation” in the media and on the internet, this economic recovery narrative is right out of an Aesop’s fable.
Here are five falsehoods Biden uses to try to deceive voters on economic conditions:
1) Wages and salaries are rising for American workers.
That WAS true in the month of July. But in 20 of the past 22 months, wages have fallen BELOW inflation. The math here is simple.
Since Biden entered office, wages and salaries are up roughly 12%. And inflation is up 15%.
The inflation rate for essentials like food, energy, mortgage payments, rent and utilities is up closer to 25% since President Donald Trump left office.
The bottom line: The average family income is down by roughly $5,000 since Biden entered office, according to an analysis by Heritage Foundation economists.
And the typical household is spending $709 more per month than it did two years ago, according to the chief economist at Moody’s Analytics.
2) Biden has created more jobs than any other modern president. --->READ MORE HERE
If you like what you see, please "Like" and/or Follow us on FACEBOOK here, GETTR here, and TWITTER here.
No comments:
Post a Comment