BIDENOMICS?

What Exactly Did We Get?

Joe Biden wants to run on his economic program, Bidenomics, touting the success of his plan. He had six benefits in mind that should have helped us.  How many of us think it has been a success for us and our families?  If this is all he has, it isn’t much.

Here are the promises…and the reality.

1.   Will lower costs for families.  Anyone buy this one?  Although there are ways to describe the rate of inflation as dropping, the costs keep going up.  Already, data shows that a typical family had to sped $10,000 more, which is particularly hard on the low-wage worker.  Our purchasing power has dropped by 21% since Biden took office. This also means that raises can’t keep up with inflation and increased wages have caused businesses to close or at least, raise the price of many items.  Gas and grocery items add up, and many families are having to make hard choices on spending.  Some seniors are returning to work; fixed incomes make it difficult to keep up with the rising cost of living.  I’m guessing this will only get worse.

2.   More energy security.  Now, we know this is a lie.  We had the best situation, energy-wise, under Trump.  We imported little energy, while exporting an increasing amount.  The price of energy was much lower (and more affordable).  Biden loves to reward the rich with tax incentives to buy electric cars while making it easy for them to charge for free.  For most of us, we don’t want electric cars, nor can we afford them.

3.   Makes the tax code fairer.  I don’t see this, do you?  The only way it would seem “fair” is if we paid less.  The only groups benefitting are the green energy companies, who get huge tax breaks.  Many of them have already folded, just as they did under Obama.  At the same time, we have 87,000 more IRS agents on the lookout for the smallest error (unless you’re Hunter Biden, committing fraud).  I got a letter on my husband’s taxes.  Despite being able to show that they took his taxes from his account, they are pretending he didn’t pay and threatening increased fines and interest.

4.   Job creation.  Yes, there are more jobs.  But most of the “new” jobs are ones that we lost under the Covid rules, so they aren’t all that new.  However, new and re-issued regulations are costing many jobs.  And almost two million people have left the labor force.  The government doesn’t count you if you aren’t looking for a job, are underemployed or just doing a bit of gig work now and then.  The numbers don’t add up to a success here.

5.   Cutting the deficit.  Biden claimed he wanted to fix our deficit problem, but he’s only made it worse with his profligate spending.  We have no numbers on the federal, state and local impact of helping millions of illegals, but the cost is staggering, judging from the claims of Democrat mayors.  (And why are we even giving them anything given their illegal status?)  Green tax credits are costing more than expected without having any real effect. 

6.   Fixing the “climate crisis.”  You know that I don’t believe there is a crisis, but Biden does.  However, nothing he does will make a difference, while many countries (China!!) are increasing their pollution.  We share the air with all the countries who burn tires and other garbage to hear their homes (India) and who keep building polluting manufacturing sites (China).  What we do makes our local situation better, but it has no impact on the larger issue.  However, by making it more expensive to do things here, Biden ensures more offshoring of businesses, leading to lower job and tax numbers.

If you thought you were excited about Biden’s economic prowess, think again.  In fact, try to come up with something he has done well.  I can’t think of a thing.  If an election weighs the track record of a candidate, candidate Biden should have never achieved a single re-election.  Ignoring his age and competence, Bidenomics should prove to you that he isn’t fit for the job.  Not unless you like the status quo.