Bidenomics 2023 Fiasco: Double the Americans Now Economically Worse Off!

In a recent survey conducted by Rasmussen, it has been revealed that nearly half of Americans claim they are worse off economically compared to a year ago. The survey, which included responses from 1,102 individuals taken just after Christmas, found that a whopping 45 percent of Americans feel their economic situation has declined. On the other hand, only 23 percent reported being better off, resulting in a significant 22-point gap.

This survey serves as a clear indication that the Biden administration’s attempts to portray their economic plan, or what President Biden himself has dubbed “Bidenomics,” as a success have fallen flat. It is undeniable that inflation, or as critics of the president like to call it, “Bidenflation,” is a major factor contributing to Americans feeling left behind. The data shows that consumer prices increased by 3.1 percent in the 12 months leading up to November, the most recent available data. In the preceding period, prices had risen by a staggering 7.1 percent. Since Biden assumed office, consumer prices have spiked by a staggering 16.8 percent.

Although average hourly wages have experienced faster growth than prices in the 12 months leading up to November, workers still find themselves falling behind in the long run. Since Biden’s inauguration, average hourly wages have only increased by 14.3 percent, which falls short by two-and-a-half points compared to the rate of inflation. This discrepancy highlights the Biden administration’s failure to provide adequate support to American workers and the middle class.

The survey also revealed an unsurprising trend in the responses based on political affiliation. Democrats, who have seemingly been blinded by their political loyalty, are much more likely to claim they are better off economically. Thirty-nine percent of Democrats share this perspective, while only 18 percent of Republicans and a dismal 13 percent of Americans not affiliated with a major party make the same claim. It is clear that politics, rather than objective economic data, is driving these perceptions.

Lastly, the survey unveiled a significant racial divide when it comes to economic outlook. Black Americans find themselves on one side, with other minorities and whites on the other. Thirty-two percent of blacks admit to feeling worse off compared to a year ago, whereas 45 percent of whites and a staggering 55 percent of other minorities share the same sentiment. This racial disparity further underscores the struggles faced by different communities under the Biden administration’s economic policies.

In summary, the Rasmussen survey exposes the harsh reality facing many Americans who feel they are worse off economically under the presidency of Joe Biden. The astronomical increase in consumer prices coupled with stagnant wages for workers has created a perfect storm of economic hardship. It is clear that Bidenomics is failing to deliver on its promises, leaving Americans behind and exacerbating political and racial divisions in the country.

Written by Staff Reports

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