President Biden’s recent Twitter boast about his economic policies and their impact on workers’ wages has come under scrutiny, with Twitter fact-checkers pointing out a “factual error.” In his tweet, the president claimed that real wages for the average American worker are higher now than before the pandemic, with lower wage workers experiencing the largest gains. But Twitter’s Community Notes provided a different perspective, stating that real wages adjusted for inflation remain lower than pre-pandemic levels.
It didn’t take long for users to comment on the tweet, highlighting the undeniable fact that inflation has soared to historic heights under the Biden administration. This surge in prices has hit hardworking Americans in their wallets, making it difficult for them to make ends meet and threatening their economic security.
The Republican Party wasted no time in responding to the president’s claim, pointing out that since Biden took office, real wages have actually declined by 3%. It’s clear that Bidenomics is failing to deliver on its promises and provide the economic relief that hardworking Americans desperately need.
This isn’t the first time President Biden’s statements have been called into question. In June, he made the dubious claim that he had cut the deficit by $1.7 trillion, a statement that was rated “highly misleading” by the Washington Post and scrutinized by other fact-checkers. Additionally, his support for the new 988 suicide hotline was met with criticism as it was actually signed into law by former President Trump. And while Biden has claimed that healthcare is “a right not a privilege in this country,” Twitter’s Community Notes pointed out that he has never publicly supported universal healthcare or Medicare for All, and has even suggested he would veto bills that implement such a system.
As Biden seeks re-election in 2024, he has been busy traveling across the country, touting the alleged impact of his economic policies. However, economists and voters remain unconvinced. Many economists, including EJ Antoni from the Heritage Foundation and Desmond Lachman from the American Enterprise Institute, have criticized Bidenomics for its excessive spending and resulting inflation. They argue that the Biden administration’s approach to economic policy has led to a host of problems, including record drops in labor productivity, anemic economic growth, rising credit card debt, and falling real incomes.
A recent Fox News poll revealed that voters, regardless of party affiliation, are deeply concerned about the future of the economy and the impact of inflation. A staggering 90% of respondents expressed worry about higher prices, while 88% were concerned about the future of the country. Republican voters, in particular, have seen their concern grow over the past three years, while Democratic voters have been slower to rally behind Biden.
With an approval rating of just 32% on the economy, it is clear that Biden’s economic policies are not resonating with the American people. The president took office with an inflation rate of just over 1% in January 2021, which skyrocketed to 9% by June 2022 before falling to the current 3%. While the rate has come down, it still exceeds the Federal Reserve’s desired target of 2%.
As the 2024 elections approach, voters will have to carefully consider the impact of Bidenomics and whether it truly serves the interests of hardworking Americans. With rising inflation, declining wages, and a growing deficit, it’s clear that a new approach is needed to ensure a prosperous future for our country.
Source Fox News