Bidenomics

[Herman]

Jim Crow Joe is so full of shit and most of the media gives him a pass.

Americans saw 'most severe' pay cut in 25 years under Biden
https://nypost.com/2022/10/06/americans-saw-most-severe-pay-cut-in-25-years-under-biden/

Americans battered by soaring inflation since President Biden took office have effectively suffered the steepest pay cut in a quarter-century, according to data released by the Federal Reserve.

Researchers for the Federal Reserve Bank of Dallas published new findings that calculated "real wages" — the effective income of workers when adjusted for inflation.

"We find that a majority of employed workers' real (inflation-adjusted) wages have failed to keep up with inflation in the past year," the researchers said. "For these workers, the median decline in real wages is a little more than 8.5%."

"Taken together, these outcomes appear to be the most severe faced by employed workers over the past 25 years," the researchers added.

Higher inflation can quickly erode the purchasing power of Americans if wage growth doesn't match the increases. That means households face a difficult financial crunch when attempting to pay for daily necessities such as food, rent and gas.

In the span of just one decade, an inflation rate of 3% would reduce the purchasing power of $100 by 25%, according to calculations by investment management firm PIMCO.

[Reggie Essent]

I always get gas on Mondays or Tuesdays.  That's usually when it's cheapest.  The grocery store is ridiculous. A bag of chips that cost $2.99 three years ago is over $6.00 now.

That's Bidenomics.

[Herman]

I always get gas on Mondays or Tuesdays.  That's usually when it's cheapest.  The grocery store is ridiculous. A bag of chips that cost $2.99 three years ago is over $6.00 now.

That's Bidenomics.

Is that what a bag of potato chips costs these days? That is robbery.

[JOE]

According to many leading economists & businessmen, we are living in very scary times.

Even they...aint sure if we're a comin' or a goin'.

They all seem ta be doom 'n gloom lately.

Oh well.

[Oerdin]

I guessed up my car in Vegas for $3.77 and in San Diego gas is around $4.80.  Dems say they help the poor but their taxes and "lowwr pollution special blend" unique to California make basic things like fuel more expensive hurting the poor the most.  Name the policy and it pretty much hurts the poor but Dems (3specially at the state and local level) the most.  The blocking of new construction drives up prices, higher minimum wage destroys job growth and causes inflation, political ideology in schools pandering to corrupt teachers unions caused California to fail from #1 in education to 49th in education, "racial justice" and "define the police" caused crime to skyrocket.  Open borders depresses wages due to increase supply of labor while driving up rental home prices.

There is not a good policy they have.

[Adolf Oliver Bush]

Is that what a bag of potato chips costs these days? That is robbery.

I'll bet that figure hasn't been adjusted for shrinkflation or shelflation either.

[DKG]

I'll bet that figure hasn't been adjusted for shrinkflation or shelflation either.

I don't eat potato chips, but I have noticed with a number of other products how the price is roughly the same for smaller amounts.

[Oliver the Second]

Fitch downgrades US credit rating for 'erosion of governance'



Fitch has downgraded the credit rating for the U.S. government from its AAA top spot rating to AA+ just months after the U.S. debt-ceiling crisis was resolved for 2023.

Fitch is one of three major credit rating agencies, alongside S & P and Moody's. These agencies analyze an entity's ability to pay back debts — whether they're a company or a country.

The ratings agency said it made the downgrade based on what it called an "erosion of governance."

Fitch originally placed the U.S. and its AAA rating on a negative watch on May 24, specifically pointing to the debt ceiling fight as a major contributing factor.


https://www.abc15.com/fitch-downgrades-us-credit-rating-for-deterioration-in-standards

[Oerdin]

I am thinking Biden will get forced out.  His corruption is getting exposed, his numbers are already in the toilet, and Dems are scared shitless of Trump making a comeback.  I would still rather see DeEantis be the GOP nominee but the only back up the Dem establishment has is greasy Newscum who is running out trying to raise money and gain profile.

[Oerdin]

Biden really is a piece of shit.  https://twitter.com/eclipsethis2003/status/1688304236960817153

[Oerdin]

[DKG]

The rosy picture lies are not working on Americans.

[Oliver the Second]

Spotted at a McDonalds in Connecticut -



https://www.cbsnews.com/news/mcdonalds-prices-big-mac-sparks-expensive-menu-darien-connecticut-debate-online/

[DKG]

The price of a gallon of gasoline is about sixty percent higher today than when Biden took office in January 2021.

[DKG]

Predictably, Joe Biden, along with his advisers, economists, and media mouthpieces, has been embracing what was supposed to be a negative phrase — Bidenomics — and spinning it as something good. But no matter how you try to spin it, portraying Bidenomics as a positive economic force is the equivalent of putting lipstick on a pig.

You don't need charts, graphs, economists, or anything else to see what is going on.

Biden is trying to brand Trump's presidency as MAGAnomics, saying Trump's fiscal policy was inferior to his own. If we take out the COVID-19 debacle that was so poorly handled but certainly an exceptional situation to be normalized for, and we ask people if they were better off in 2019 or 2023, what do you think the answer would be?

Never mind the administration's talking points about job "reclamation" or "creation"; when did people have more fear of losing their jobs — today or 2019?

Looking at personal savings, when did Americans have more in their bank accounts? Notably, the personal savings rate was in the high 8% to mid-9% range in 2019. As of July 2023, it was just 3.5%.

When did Americans have more crushing debt loads, today or 2019? Well, we know the answer to that is today, with credit card debt alone exceeding $1 trillion.

And when did Americans feel as though they were getting crushed by the cost of everyday living, 2019 or today?

You don't need a chart to know the reality of these answers.

As writer David Marcus posted on X (formerly Twitter), "Under MAGAnomics, people have more money to buy things. Under Bidenomics, the government has more money to buy things."

Without a doubt, Biden stepped into a situation where the previous administration made some suspect economic decisions. But he made each and every policy worse, from adding stimulus money to attacking traditional energy sources. These are the issues that have been at the center of creating the worst inflation seen in more than four decades.

Moreover, during his administration, Biden has done nothing to correct course and steer our fiscal ship in the right direction. The debt, deficits, and energy are the main issues that will keep inflation sticky.

On the energy front, just last week the Biden administration canceled "the seven remaining oil and gas leases in Alaska's Arctic National Wildlife Refuge."

None of that sounds promising for Bidenomics or America's fiscal future.