As I see it, under “Bidenomics,” prices seem to be going up a heck of a lot faster than our take-home pay. Studies reflect that average hourly pay increased by 13.6% since January 2021 but, also, inflation increased by 17% — this means that, on average, one had to make an additional $11,434 annually just to keep from going backwards. (cbsnews.com)
But apparently, President Biden has not noticed this because he says that “We’re better situated than we were when we took office, where inflation was skyrocketing”.
Not sure if he was mis-speaking, mis-remembering or mis-leading, but, regardless, it was another example of mis-informing for which he is famed. To set the record straight, when he took office, inflation was a lowly 1.4% and, under his administration, “Bidenflation” kicked in, pushing it to a 41-year-high of 9% in 2022 before dropping back to 3.4%, over twice what it was when he entered office. (blackburn.senate.gov)
To put a finer point on it, prices across the board soared by 17% to include clothing prices (+7%), rent (+ 19%), food (+20%), energy (+ 31%), gas (+ 34%) and mortgage rates are at two-decade highs and, placing this in historical perspective, between January 2010 and January 2021, the price index for food increased less than 18% but since Biden’s election, it rose by 21%.
Bidennomics and Bidenflation are just two different names for the same thing. Rising prices and less money in your pocket. The better term would be Bidendisaster.
Dick Pilling
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