'Bidenomics' Is Failing Everyday Americans

The big spending has fueled higher inflation, resulted in larger-than-projected deficits, and contributed to a record level of debt.

As election season approaches, Democrats are touting the economic results of Biden administration policies aimed at improving the lives of working Americans and creating a more equitable economy. But ordinary Americans aren't feeling the so-called success of "Bidenomics."

Superficially, the economy looks solid. As measured by real gross domestic product (GDP), it increased at an annual rate of 2.1 percent in the second quarter of 2023. While August's unemployment rate rose to 3.8 percent, that's still considered full employment by economists. Wages are rising, and we are often told that we're in a manufacturing boom.

But these numbers need perspective. Because we lost millions of jobs during the pandemic, employment growth was inevitable. Many of the jobs lost were going to come back as the economy reopened. Unemployment is low, but only because the economy is drunk on spending that is simultaneously closing many people out of the labor force. What's more, inflation-adjusted median household income has declined—from $76,330 in 2021 to $74,580 in 2022. Labor tensions and strikes are also intensifying.

Early in the Biden Administration, a spokesperson said the quite part aloud and revealed the core truth of the Biden regime. When asked if they were worried about how their energy policies were driving US inflation she said, “The American people are going to have, you know, to learn to consume less”.

The US People need to accept a difficult to believe fact. The Biden Administration is at war with you. They think Americans consume too much of the world’s resources. They think the US has been a global bully that must be reduced to be more like the “good” nations in the world. They think Americans have governed themselves irresponsibly for too long and need to be brought under greater control by their “betters” in the political/media class. The Biden people are just lying to you by blaming everyone else for the negative results of the Biden Administration’s policies on working class Americans. They know you will not support their agenda with your votes in 2024 if they told you these truths.

The longest period of economic progress for average citizens worldwide was 1950 to 1973. From 1973 to 1983 were some of the worst times for the post-World War Two working class. They suffered under the burdens of a stagnant job market, slow wage growth and a rapid continuous rise in inflation. Why? Because in 1973 OPEC imposed an oil embargo, which they followed up again later in the 1970s.

The Biden Administration replicated that same economic impact with their domestic energy policy as soon as they took office. Their thinking was “the US consumes too much fossil fuels, they need to be forced to use renewable energy sources in the name of “saving the planet””. The Biden team knows they cannot do that if fossil fuels remain the cheaper, more efficient, source of power. The Biden plan is to use US Government regulatory powers to create a supply side constriction in US domestic production. That would create cost push inflation to force fossil fuel prices much higher worldwide. The unintended consequence of this foolish act was to create a rapid, sustained, increase in inflation across the board for US Consumers. Their theory is this would make renewable energy sources and electric vehicles more cost competitive. Combined with other US Government regulatory actions that will force Americans to consume less energy as well as buy electric vehicles. The bulk of US voters do not support this agenda so they knew they would have to lie about it. The result is the same old propaganda tactics Joe Biden has used since he came to DC in 1972. Blame everyone else for the consequences of his actions.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.