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Name: MADDOG10
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Wednesday, August 2, 2023

Dems in trouble: Americans see through 'Bidenomics' Lies!

Dems In Trouble: Americans See Through ‘Bidenomics’ Lies

Opinion by Gage Klipper • Yesterday 6:41 PM
WASHINGTON, DC - JULY 28: U.S. President Joe Biden gestures toward visitors watching the departure as he walks to Marine One on the South Lawn of the White House July 28, 2023 in Washington, DC. President Biden is traveling to Auburn, Maine to discuss manufacturing and his "Bidenomics" economic plan. (Photo by Drew Angerer/Getty Images)
WASHINGTON, DC - JULY 28: U.S. President Joe Biden gestures toward visitors watching the departure as he walks to Marine One on the South Lawn of the White House July 28, 2023 in Washington, DC. President Biden is traveling to Auburn, Maine to discuss manufacturing and his "Bidenomics" economic plan. (Photo by Drew Angerer/Getty Images)© (Photo by Drew Angerer/Getty Images)

New polling suggests that Democrats are in for a world of hurt in 2024. As the adage goes, “it’s the economy stupid!” — and Americans’ economic outlook is bleak indeed. The administration and their media allies have waged a concerted propaganda effort to sell “Bidenomics” as something it’s not, but it turns out the American people are not as stupid as Democrats think.

CBS News report poll released over the weekend feigned shock that “macro stats for the U.S. economy” provided “cold comfort” for many Americans. Despite GDP growth and stock gains, the average American family does not perceive much improvement to their bottom line. The most common words used to describe the economy were “uncertain” (56 percent) and “struggling” (61 percent). In contrast, only 11 percent believed the economy was “expanding.”

These findings are unsurprising, and track with Americans’ economic outlook since politicians shut down the U.S. economy during Covid. What’s more surprising — and likely more <snip>ing for Democrats — is how Americans perceive the politics of it all. Eighty percent of Americans believe Biden’s policies are “somewhat” or a “great deal” responsible for the current state of the economy. Over half of Americans have heard little to nothing about “Bidenomics,” but for those who had, roughly half said “higher inflation” and “tax increases” come to mind.

It is somewhat surprising that a majority of Americans have not heard of Bidenomics, given the push to make the nebulous economic program a campaign centerpiece. In politics, there are three types of lies — “lies, <snip>ed lies, and statistics.” The campaign believes it can distort economic reality to claim a victory for Bidenomics that doesn’t in reality exist.

Biden has routinely defined his eponymous economic plan as “rooted in the recognition that the best way to grow the economy is from the middle out and the bottom up.” If this sounds like mush-mouthed nonsense, that’s because it is. The “three key pillars” of Bidenomics — “smart public investments,” “empowering and educating workers,” and “promoting competition” — are so vague that they allow Biden to take credit for virtually anything that goes right in the American economy, no matter what the cause.

For example, Vice President Kamala Harris recently took a victory lap on behalf of Bidenomics for the “new jobs created.” But this is a prime example of lying with statistics — and one certainly doesn’t need an economics degree to see why.

Harris’ graphic compares the 13 million jobs “created” under Biden to the five million under former President Donald Trump. But, according to Trading Economics, the current employment rate is still slightly lower than it was in February 2020. Biden’s gains are merely replacing the jobs temporarily lost during Covid. In fact, the rebound occurred at a much slower rate under Biden than it did under Trump.

This is likely because another plank of Bidenomics is pumping billions into green energy boondoggles and calling it infrastructure. In total, the Inflation Reduction Act — Biden’s signature piece of legislation — devoted a whopping $369 billion to “climate investments.” That comes on top of the earlier $1.2 trillion infrastructure law which also funneled billions into left-wing causes like “climate resiliency.”

Democrats claim a victory for Bidenomics here as well, arguing counter-intuitively that greater government spending would actually bring down inflation. Now, even liberal economist Larry Summers is warning that Bidenomics is becoming “increasingly dangerous” and will make inflation worse. Yet Democrats still claim a preemptive victory over inflation.

The problem with the administration’s inflation claims however, is that they fail to account for the year-on-year changes. Sure, the inflation rate came “down” to 4.6 percent in July 2023. But that means it is still over four percent up from the 8.5 percent inflation of July 2022.

Biden seems to think his best hope for re-election is campaigning on his economic agenda. The campaign hopes to turn voters’ (realistic) perception around by shifting the focus to Trump. In a statement released to Politico, Biden actually hit Trump over his  record on jobs and the economy. This signals that Biden world is going to attempt to win back the working class voters who haven’t looked back since leaving the Democratic party for Trump in 2016.

If the economic message continues to fail, the Democrats will revert to their usual tactic — scream racism until they are blue in the face. But this is unlikely to be as successful as it was during the 2020 “summer of love.” Any president, or party, that gets blamed for kitchen table issues is unlikely to fare well under a national referendum. Despite the statistical trickery, people feel the pain in their pocketbooks, as the CBS poll shows. Biden will not escape his economic legacy so easily, and any candidate who puts forward a compelling economic vision will be a force to reckon with in 2024.

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5 Comments:

jarasan said...

"Fitch Ratings� decision late Tuesday to cut the U.S. government�s credit rating represents the latest in a series of blows to the U.S. dollar�s international standing and reputation, one financial markets economist told MarketWatch." This is seriously hard to do.

joepedo don't care, he has his millions, ice cream, a Dr. wifey, 3 mansions, pensions, corvette, and the smartest son a dad ever had.

6:32 PM
sully16 said...

The will continue to tow the line, they are puppets and Barry and George are in charge.

8:21 PM
lakerben said...

I'm watching thr head liar on TV.  Another indictment,more lies, fake electors, Rudy and the gang.  But this republicans love a combination of bs,comedy and corruption.

4:45 PM
MADDOG10 said...

LB, what in the sam hill has that got to do with biden?

11:06 AM
CDanaT said...

Sorry Maddog... He/It/Them/They, has no other viable option but to defer to Trump. It is illegal for any Democrat to stay on a topic that points out default or ignorance of a Democrat. That is also known as TDS..... Thankfully this will be concluded in about 6 years and 4+ months.

11:53 AM

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