Guess who’s peddling “Bidenomics” and its alleged impact?

President Biden’s recent tweet boasting about the positive impact of his economic policies, known as “Bidenomics,” has come under scrutiny. Twitter fact-checkers quickly pointed out a factual error in his claim, revealing the widening gap between rhetoric and reality.

In his tweet, Biden asserted that real wages for the average American worker are currently higher than pre-pandemic levels, with lower-wage workers benefiting the most. However, Twitter’s Community Notes provided important context, stating that the claim about real wages contained a factual error.

To clarify, the Community Notes highlighted the data, indicating that when COVID-19 lockdowns began on March 15, 2020, real wages adjusted for inflation stood at $11.15. As of July 16, 2023, those wages had declined to $11.05. It is evident that real wages, when adjusted for inflation, have not recovered to pre-pandemic levels as the president claimed.

Numerous Twitter users swiftly responded to the tweet, drawing attention to the alarming rise in inflation rates under the Biden administration. This surge in inflation poses a significant challenge, eroding the purchasing power of hardworking Americans and undermining economic stability.

The Republican Party wasted no time in addressing the misleading tweet. They pointed out that since Biden took office, real wages have actually decreased by 3%. Such a decline is deeply concerning, especially when the president continues to make misleading statements about the state of our economy.

This is not the first instance where President Biden’s statements have faced scrutiny. In June, he made a highly misleading claim about cutting the deficit by $1.7 trillion, which was debunked by fact-checkers. Additionally, he attempted to take credit for the new 988 suicide hotline, which was actually signed into law by former President Trump. It is disheartening to witness a president attempting to appropriate the accomplishments of others for political gain.

Twitter’s Community Notes also revealed a discrepancy in Biden’s stance on healthcare. Despite claiming that healthcare is a right and not a privilege, he has never publicly supported universal healthcare or Medicare for All. In fact, he has expressed intentions to veto bills implementing such systems. It is crucial to hold our leaders accountable for their promises and prevent them from distorting the truth for political advantage.

As President Biden gears up for the 2024 re-election, he has been traversing the country, delivering speeches and attending campaign receptions. During these events, he continues to peddle his “Bidenomics” and its supposed impact. However, economists and voters remain skeptical. Experts have equated Biden’s economic policy to excessive spending and inflation, which have resulted in adverse consequences for hardworking Americans.

Economists EJ Antoni from the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget and Desmond Lachman from the American Enterprise Institute have expressed concerns about the direction of Bidenomics. Antoni labeled it a “failure,” citing soaring inflation, plummeting labor productivity, and escalating government debt. Lachman warned about the dangers of excessive spending, emphasizing that short-term economic stimulation can lead to long-term challenges, such as persistent inflation.

A recent Fox News poll found that the majority of voters, regardless of party affiliation, are worried about inflation and the future of the economy. Among Republicans, 96% expressed concern about the future of the country, a significant increase from previous years. Meanwhile, Democrats’ concern has not diminished as quickly as Republican concern has risen under the Biden administration.

Biden’s approval rating on the economy currently languishes at a mere 32%, indicating a lack of confidence in his economic policies.

It is vital for American citizens to critically examine President Biden’s claims about the economy. The reality is that real wages have not recovered to pre-pandemic levels, inflation remains a pressing issue, and the future of our economy remains uncertain. As passionate Republican voters, we must stay informed, hold our leaders accountable, and support policies that prioritize long-term economic stability and prosperity for all Americans.

Source Fox News