Bidenomics’ Stench Fuels Unpopularity

Even Federal Reserve now says Bidenomics is especially hurting minority families because its having pushed inflation to record highs more than offset the paychecks from jobs, jobs, jobs, the president keeps touting.

As the WSJ editors explained: “News coverage of the Fed’s [latest] Survey of Consumer Finances has noted that the typical family’s net worth increased 37% between 2019 & 2022 amid the run-up in equity & housing prices. BUT, while Americans overall have become wealthier during Mr. Biden’s tenure [on paper], many don’t feel that way because they are cash poorer [in the real world]. After adjusting for inflation, the typical white family’s income rose 1.3%, the report says. But it shows declines for black & Hispanic families of 1.6% & 1.1% respectively. Wages for minorities didn’t keep up with inflation & those for whites barely did.”

But, there’s more angst than meets the eye. For black, Hispanic & middle class whites alike they all know that while their inflated homes may be worth more IT COSTS MORE TO MOVE; hence, they DO NOT MOVE BECAUSE THEY CAN’T AFFORD TO. (Actually, many can’t afford to stay put either as their higher home value can’t pay rising heating costs & big city taxes gone wild.) The gravy train is especially over, the editors note, for black & Hispanic households who were the biggest recipients of COVID-era stimulus checks, rental assistance, enhanced unemployment benefits & larger child care credits.” So, is there really any wonder “why Bidenonics isn’t popular”?

Davd Soul