{"id":6093,"date":"2024-05-16T17:06:25","date_gmt":"2024-05-16T09:06:25","guid":{"rendered":"https:\/\/tingchao.xyz\/?p=6093"},"modified":"2024-05-16T17:06:29","modified_gmt":"2024-05-16T09:06:29","slug":"biden-has-become-detached-from-economic-reality","status":"publish","type":"post","link":"https:\/\/tingchao.xyz\/?p=6093","title":{"rendered":"Biden has become detached from economic reality"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In a recent interview with CNN, President Biden downplayed Americans\u2019 genuine concerns about the economy in general and inflation in particular, declaring, \u201cWe\u2019ve already turned it around \u2026 the polling data has been wrong all along.\u201d<\/p>\n\n\n\n

Most Americans are \u201cpersonally in good shape,\u201d Biden added. \u201cThey have the money to spend.\u201d<\/p>\n\n\n\n

Interestingly, Biden did receive some pushback from CNN\u2019s Erin Burnett. That in itself goes to show that even Biden\u2019s mainstream media lapdogs understand how ridiculously out of touch he has become, less than six months before this year\u2019s general election.<\/p>\n\n\n\n

In reality, the vast majority of Americans are in terrible shape and do not have money to spend on anything but the bare necessities.<\/p>\n\n\n\n

According to a 2023 payroll.org survey, 78 percent of Americans are living paycheck to paycheck. When asked why they were living paycheck to paycheck, the number one response, by far, was: \u201cHigh monthly bills.\u201d<\/p>\n\n\n\n

It goes without saying that nearly 80 percent of Americans living paycheck to paycheck is very bad news, however, it\u2019s much worse than that. Incredibly, 29 percent of Americans \u201creported that their income doesn\u2019t even cover their standard expenses,\u201d according to a Forbes Advisor poll also conducted in 2023.<\/p>\n\n\n\n

Because prices for everyday goods and services are rising much faster than wages under Biden, more and more Americans are resorting to using credit cards to make ends meet. In early 2021, Americans had less than $800 billion in credit card debt. Just three years later, that has skyrocketed to an all-time record of $1.1 trillion.<\/p>\n\n\n\n

Moreover, credit card delinquencies have risen every month of the Biden administration, as more than 20 percent of Americans have \u201cmaxed out\u201d their cards over the past three years. Americans are also struggling to pay their auto loans and more than 20 million households are unable to pay their utility bills on time.<\/p>\n\n\n\n

In short, President Biden is apparently clueless when it comes to the current economic circumstances of most Americans.<\/p>\n\n\n\n

Let me just offer a snapshot of what Americans people actually think about their personal financial situations according to several recent polls conducted by Gallup. Here are a few of the headlines:<\/p>\n\n\n\n

\u201cAmericans Continue to Name Inflation as Top Financial Problem\u201d<\/p>\n\n\n\n

\u201cConfidence in Biden Economic Stewardship Historically Low\u201d<\/p>\n\n\n\n

\u201cAmericans Expect Home Prices to Rise, See Market as Poor\u201d<\/p>\n\n\n\n

\u201cAmericans Remain Discouraged About Personal Finances\u201d<\/p>\n\n\n\n

\u201cU.S. Mood Remains Glum; 18 percent Satisfied With State of Nation\u201d<\/p>\n\n\n\n

\u201cMore in U.S. Say Inflation Is Causing Financial Hardship\u201d<\/p>\n\n\n\n

It is ironic that Biden is so wildly out of touch with the struggles of everyday Americans, considering that he constantly portrays himself as someone especially attuned to blue collar America. In the aforementioned CNN interview, Biden mentioned that he approaches the economy from \u201ca Scranton perspective\u201d while his 2024 election opponent, former President Donald Trump, comes from \u201ca Mar-a-Lago perspective.\u201d This could not be further from the truth.<\/p>\n\n\n\n

During his decades-long career in the U.S. Senate, Biden repeatedly did the bidding of big banks and credit card companies. What\u2019s more, his administration\u2019s policies have been a boon to the ultra-wealthy, politically connected elite, while wreaking havoc on the rest of the nation. This is particularly evident in terms of Biden\u2019s energy policies, which include huge subsidies for pricey electric vehicles and hundreds of billions of taxpayer dollars diverted to \u201cgreen energy\u201d projects that overwhelmingly benefits Biden\u2019s donor class to the detriment of hardworking Americans.<\/p>\n\n\n\n

As my colleague, Sterling Burnett recently wrote, \u201cafter less than two full years in office, Biden\u2019s climate and energy policies increased average household energy costs by more than $2,300.\u201d<\/p>\n\n\n\n

At this point, it is no secret that Bidenomics has not achieved the Biden administration\u2019s goal of rebuilding the U.S. \u201ceconomy from the middle out and the bottom up, not the top down.\u201d In fact, based on empirical data, the exact opposite has occurred. As Bloomberg reports, under Biden, U.S. income inequality has risen to an all-time high.<\/p>\n\n\n\n

And the opposite scenario took place during the Trump administration. As Reuters put it, \u201cIncome inequality in the United States narrowed in the first three years of the Trump administration as rising wages and a low unemployment rate fueled gains for lower-income and less educated families, according to U.S. Federal Reserve data.\u201d<\/p>\n\n\n\n

More than three years into the Biden presidency, it is already evident that the vast majority of Americans recognize Bidenomics as a disaster for the nation.<\/p>\n\n\n\n

Will Biden at last come to the same conclusion? Or will he remain blissfully unaware of the damage his economic policies have unleashed upon the American people?<\/p>\n\n\n\n

Good question.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a recent interview with CNN, President Biden downplayed Americans\u2019 genuine concerns about the economy in general and inflation in particular, declaring, \u201cWe\u2019ve already turned it around \u2026 the polling data has been wrong all along.\u201d Most Americans are \u201cpersonally in good shape,\u201d Biden added. \u201cThey have the money to spend.\u201d Interestingly, Biden did receive […]<\/p>\n","protected":false},"author":7,"featured_media":6094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[61],"class_list":["post-6093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-usa"],"yoast_head":"\nBiden has become detached from economic reality - LISTEN WORLD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tingchao.xyz\/?p=6093\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden has become detached from economic reality - 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