Staff Reports
The headline of the Thursday morning edition of POLITICO’s Playbook gave a cheerful impression of President Biden’s week. But let’s take a closer look at what’s really going on. The media, including POLITICO, is trying to paint a rosy picture by highlighting how inflation has dropped to 3 percent in June, the lowest number since March 2021. However, the reality is not as promising as they would like you to believe.
Who Is the White House Fooling on Bidenomics?. NOBODY https://t.co/gJ2aIixc5U
— “ TRUTH Speaker” (@FreeAdvice767) July 16, 2023
The Federal Reserve’s target rate for inflation is just 2 percent, and both headline and core CPI (which excludes food and energy) are above that target. In fact, core CPI increased by 0.2 percent in June for a staggering 4.8 percent annual advance. So, despite the media’s attempt to downplay it, inflation is still a major concern.
The three percent year-over-year headline CPI number may seem modest, but let’s not forget that it represents a three percent gain from the highest level of inflation reported in over four decades. In June 2022, CPI showed a 1.3 percent monthly advance for an annual increase of a whopping 9.1 percent. These numbers are nothing to celebrate, and they indicate that Bidenomics is failing to control inflation.
RNC Chairwoman Ronna McDaniel accurately pointed out that American families and workers will suffer from higher costs for everything. Biden continues to lie to Americans and refuse to take responsibility for his failed agenda. It’s clear that voters will make him a one-term president because they can see through his deception.
Despite the grim reality of inflation, the White House and Biden’s allies are celebrating, even going as far as misleading the public on Twitter. They claimed that inflation-adjusted income is up 3.5 percent since Biden took office, but the government’s own data contradicts that. In reality, inflation-adjusted average hourly earnings have declined by 3.3 percent since Biden took office. These false claims only further erode trust in the administration.
The media, including POLITICO, is joining in on the celebration, spinning a narrative of a turning economy. But Americans aren’t buying it. Biden’s handling of the economy has received a dismal approval rating, with only 38.4 percent approving. A majority of Americans believed that Trump did a better job handling the economy, with a 54 percent approval rating. It’s clear that Biden is failing the American people when it comes to the economy, and no amount of spin can change that fact.
The White House is aware of the challenges ahead, with potential storms on the horizon such as the resumption of student loan payments, a likely government shutdown, and the possibility of interest rate hikes pushing the economy into a downturn. They can try to shift blame onto these factors, but the truth is that Biden’s economic policies are not working.
It’s time for the American people to wake up and realize that they deserve better than Bidenomics. We need a leader who will prioritize the needs of American families and workers, not spin false narratives to cover up their failures. Biden’s economic dream may be becoming a reality for some, but for many Americans, it’s turning into a nightmare.
