Staff Reports
In a recent survey conducted by Rasmussen, it has been revealed that nearly half of Americans are feeling the economic pinch and believe they are worse off than they were just a year ago. The survey, which polled 1,102 Americans right after the holiday season, found that a staggering 45 percent of respondents feel like they are in a worse financial state compared to last year. In contrast, only 23 percent of those surveyed claimed to have seen improvement, highlighting a 22-point gap that the Biden administration can’t ignore.
Twice as Many Americans Say They Are Worse Off Economically After 2023‘s Bidenomics https://t.co/wSIxEycsvz via @BreitbartNews
— Nancy Skies🍊 (@nancyskies) January 8, 2024
Furthermore, a significant 29 percent of Americans reported that they simply “treaded water” economically last year, with no significant changes in their financial situations. It’s clear that the so-called “Bidenomics” approach championed by the current administration has not been the economic savior it was promised to be. In fact, the rise in inflation, or as critics aptly call it, “Bidenflation,” is a primary factor contributing to the feeling of falling behind among many Americans.
The survey reflected a 3.1 percent increase in consumer prices over the 12 months leading up to November, compared to a staggering 7.1 percent increase in the previous 12 months. Since President Biden took office, consumer prices have skyrocketed by a whopping 16.8 percent, leaving hardworking Americans struggling to keep up. While it is true that average hourly wages have increased, the pace is still lagging behind the soaring inflation. Since Biden’s inauguration, the average hourly wages have only gone up by 14.3 percent, falling short by two-and-half points compared to the inflation rate.
The partisan divide in the survey is strikingly clear, with Democrats more likely to report feeling better off economically than their Republican and unaffiliated counterparts. Thirty-nine percent of Democrats claim to be better off, whereas a mere 18 percent of Republicans and a paltry 13 percent of unaffiliated individuals share the same sentiment. It comes as no surprise that political affiliations play a role in how Americans perceive their economic standing, especially given the left’s penchant for political posturing and denial of widespread economic challenges.
The racial disparity in the survey results is also worth noting, as it indicates a stark contrast between black Americans and other minorities, as well as white respondents. Black Americans reported feeling worse off than they were a year ago at a rate of 32 percent, while 45 percent of white respondents and 55 percent of other minorities expressed similar sentiments.
It’s clear that the economic reality for many Americans does not align with the rosy picture the Biden administration is attempting to paint. As inflation continues to soar and wages struggle to keep pace, it’s no wonder that nearly half of Americans are feeling the pinch. The hardworking citizens of this great nation deserve more than empty promises and misguided economic policies.
