Bidenomics leads to first decade-long rise in poverty rate.

It’s time for ‍your daily dose ⁤of Bidenomics — where⁢ the rules ‍are made up and the points‍ don’t matter.

In today’s lesson, we’ll learn how the U.S.⁢ poverty rate increasing for the first time in more than a decade is‍ actually⁣ a ⁣sign of a⁢ booming economy or something.

According to the U.S.⁤ Census Bureau, a whopping 12.4% of⁣ Americans lived in poverty in 2022. That’s up from 7.8% in 2021. In fact, it was the first increase in the ⁤U.S.⁤ poverty rate in 13 years.

That news comes ⁣as the Census also reported that the U.S. real ​median household income decreased by 2.3% to $74,580 in 2022. Meanwhile, year-over-year inflation rose 7.8%,‍ per Fox Business.

The Biden administration has long claimed ⁣that⁣ his policies are working and ⁤that his spending plans have ​juiced⁢ the American economy. Meanwhile, prices have increased more than 17% since⁤ he took office.

In August, inflation continued to tick upward.

In ⁢a statement given to Townhall.com, Job Creators Network President‌ and CEO Alfredo Ortiz said,

“This accelerating‍ inflation, which is nearly twice the ‌Federal Reserve’s target rate, is another ⁤Bidenomics blow to ordinary Americans and small businesses⁣ dealing with rapidly rising prices that are lowering their real wages and living standards for two⁢ and ⁣a half years.”

Indeed, as ⁣ explained recently by David Winston, the president ‌of​ The⁣ Winston Group and a GOP adviser, just about everything is more expensive than⁤ it was on the day Biden took office.

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Biden’s solution, Winston correctly points out, has been “trying to dress‍ up⁤ central planning as America First.”

The current president even tried to sell his economic‍ agenda as “BABA” — Building a Better‌ America. ‍As previously discussed, BABA ⁤sounds ⁣similar to former President Donald Trump’s⁢ MAGA ⁢— Make America Great ​Again, but like most phony imitations, it has proven to be a crappy⁣ product that falls apart under the slightest bit of pressure.

BABA didn’t really click with the American people, so now he’s trying to sell his vision for​ the⁢ country as Bidenomics.

It’s been ⁢a great​ success for America,⁢ just ask him.

Whatever he calls it, the results are the same: The American people are ​worse off today than they were four years ago. The proof is in the pudding⁢ — that now costs more money, evidently.

The views expressed in this‌ piece‌ are the author’s own and do not necessarily represent those ‌of The⁣ Daily Wire.

How are low-income individuals and families disproportionately affected by the increase in prices for everyday goods and services,​ and what are‌ the potential consequences ​for poverty levels and economic mobility ⁤in ‍the country

Business owners. Higher prices for everyday goods and⁣ services mean ‌less money in people’s pockets and less ‌capital for small businesses to invest and grow. This ⁣undermines economic opportunity and ‍stifles job creation.”

Despite ‌these alarming factors, the Biden administration continues to push forward⁢ with its ambitious spending plans, ⁢such as the infrastructure bill and ⁤the ‍Build Back Better ​agenda. They argue ​that these policies will lead⁢ to long-term economic growth and ⁢benefit the American people.

However, the⁤ reality seems to contradict their claims. The ‌increase in ‌the poverty ⁣rate is ⁣indicative of the​ struggles faced by many Americans, especially in the midst of rising inflation. It raises ‌questions about the effectiveness of the administration’s economic policies.

Additionally, the decrease in real⁣ median household income further compounds the issue. As the cost of living continues to rise, people are finding⁣ it harder to ‌make ends meet. This puts a strain on families and individuals, particularly those who ​were ‍already‌ struggling financially.

While the Biden administration may argue that their spending ⁢plans will ‌create jobs and stimulate the economy, the ⁤evidence so far​ suggests otherwise. The rising inflation‍ and declining household‍ income paint⁤ a ‍bleaker picture ⁢for the average ⁤American.

Furthermore, the increase in prices for everyday goods and services has a disproportionate impact on low-income individuals and families. Basic necessities become increasingly ⁣unaffordable, exacerbating‌ the challenges of​ poverty and making it even harder for people to escape its grasp.

It is ‍essential‌ for policymakers to address these concerns ‍and reassess their economic‌ strategies. ⁤Ignoring​ these warning signs and pushing⁤ forward with policies that seem ⁤to exacerbate the very issues they aim to solve will only lead to ‍further economic hardships for hardworking Americans.

The American people deserve policies that prioritize their well-being and economic​ stability. It is time for a critical evaluation of Bidenomics and a reexamination of the strategies being implemented.

Ultimately, the points do matter, and​ the consequences of the administration’s economic policies‌ are⁢ being felt by millions of ‍Americans. ⁣It⁣ is crucial to hold our leaders accountable and⁢ demand better solutions for our economy and the well-being of our citizens.