Bidenomics is back, with fictitious rules and meaningless points. Time for your daily fix.
This lesson will cover how the rising poverty rate in the United States for the first time in over ten years may indicate a healthy economy or other phenomenon.
In 2022, the U.S. Census Bureau said that a huge 12.4% of Americans were living in poverty. This is more than the 7.8% in 2021. In fact, it was the first time in 13 years that the number of people living in poverty in the U.S. went up.
The Census also said that the real median family income in the U.S. went down by 2.3% to $74,580 in 2022. Fox Business says that inflation rose 7.8% from one year to the next.
The Biden government has been saying for a long time that his policies are successful and that his plans for spending have helped the economy. Since he took office, prices have gone up by more than 17%.
In August, the rate of inflation kept going up.
Alfredo Ortiz, President and CEO of the Job Creators Network, claimed in a statement to Townhall.com, “This accelerated inflation, which is almost double the target of the Federal Reserve rate, is yet another Bidenomics blow to everyday Americans as well as small businesses who are dealing with rapidly increasing costs that have been decreasing their real wages and standards of living for the past two and a half years.”
In fact, as David Winston, the head of The Winston Group and an advisor to the GOP, said not long ago, almost everything costs more now than it did when Biden took office.
Winston is right when he says that Biden’s answer is “attempting to dress up centralized planning as America First.”
Even our current president attempted to sell his economic plan by calling it “BABA,” which stands for Building a Better America. As we’ve already talked about, BABA sounds like former President Trump’s Make America Great Again (MAGA), but it’s a fake that doesn’t work and falls apart with the smallest amount of pressure.
The American people did not particularly like BABA, so now he’s attempting to promote his plan for the country under the name Bidenomics.
No matter what name he gives it, the result is the same: The situation of the American people is worse now than it was four years ago. The proof is in the cake, which obviously costs more now.
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