{"id":1993403,"date":"2023-08-07T17:07:02","date_gmt":"2023-08-07T21:07:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-america-heres-how-much-bidenonmics-has-cut-your-paycheck\/"},"modified":"2023-08-07T17:09:01","modified_gmt":"2023-08-07T21:09:01","slug":"bidens-america-heres-how-much-bidenonmics-has-cut-your-paycheck","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-america-heres-how-much-bidenonmics-has-cut-your-paycheck\/","title":{"rendered":"Biden&#8217;s Impact: How Bidenomics Reduced Your Pay"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-america-heres-how-much-bidenonmics-has-cut-your-paycheck%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1993403&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President Joe Biden&#8217;s &#8220;Bidenomics&#8221; Policies: A Disastrous Impact on\u200b Americans&#8217; Paychecks<\/h2>\n<p>President Joe Biden is attempting to\u200c rev\u200d up his \u200dbase by claiming his \u201cBidenomics\u201d policies somehow \u201cfixed\u201d the economy. But few everyday Americans \u2062are\u200d seeing the \u2062benefits he keeps talking about. Indeed, paychecks \u2064have taken a serious \u200dhit in the Biden era.<\/p>\n<p>Americans are facing \u2064a long list \u200cof things bleeding away their \u200cearning power. The cost of gasoline, <a href=\"https:\/\/www.westernjournal.com\/experts-another-substantial-jump-food-prices-coming\/\" target=\"_blank\" rel=\"noopener\">food<\/a>, rent and\u200b mortgages, \u200dutilities\u2063 and nearly\u200b everything else has soared\u2064 under this administration.<\/p>\n<p>Biden has made \u2062all Americans poorer,\u200c but his horrible <a href=\"https:\/\/www.westernjournal.com\/kamala-admits-bidenomics-not-working-saying-americans-cant-afford-400-surprise-expense\/\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a> economy is hitting \u200cthe poor and \u200cmiddle\u200b class very hard.<\/p>\n<p>Overall, the cost of living has risen 16 percent from <a href=\"https:\/\/www.westernjournal.com\/white-house-post-graph-bragging-inflation-going-completely-blows-face\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> since Biden took office, Tiana Lowe Doescher noted Thursday in the <a href=\"https:\/\/www.washingtonexaminer.com\/opinion\/beltway-confidential\/your-paycheck-has-lost-16-of-its-value-since-biden-took-office\" target=\"_blank\" rel=\"noopener\">Washington Examiner<\/a>. \u200bThat means Americans have lost 16 percent of their\u200c spending power.<\/p>\n<h3>The Impact\u2062 on Everyday Americans<\/h3>\n<p>\u201cThe numbers are even more egregious when you break them down by the categories on which the least \u2063privileged\u200c spend a\u200b disproportionate amount of\u2063 their\u2064 incomes,\u201d Doescher wrote.<\/p>\n<ul>\n<li>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-america-heres-how-much-bidenonmics-has-cut-your-paycheck\/\" title=\"Biden's Impact: How Bidenomics Reduced Your Pay\">consumer price index specifically<\/a>\u2064 for \u200bfood\u2063 is up 19% since January\u200d 2021<\/li>\n<li>Electricity prices are up 23%<\/li>\n<li>Used car prices are up a staggering\u200d 30%<\/li>\n<li>Car repairs cost 23% more than \u200btwo \u200dyears ago<\/li>\n<\/ul>\n<p>The\u200c economic situation is so bad that last week,\u200d Fitch Ratings <a href=\"https:\/\/www.westernjournal.com\/op-ed-establishment-arms-us-credit-downgrade-dont-let-fool\/\" target=\"_blank\" rel=\"noopener\">downgraded<\/a> the country\u2019s credit rating to \u200cAA+, down from AAA, an announcement that\u200d \u201cShark Tank\u201d star Kevin\u200c O\u2019Leary said was a\u200c very\u2063 bad thing \u2062for the U.S.<\/p>\n<p>\u201cThere is no way to sugarcoat this \u2063at all.\u2064 It\u2019s bad. And I\u2019ll tell you how you measure it\u2019s bad. Basically, when you downgrade the U.S. economy, which is what this downgrading is, you are\u200c losing a little faith in the U.S. dollar and the U.S. Treasury bill,\u201d <a href=\"https:\/\/www.westernjournal.com\/shark-tank-star-refuses-sugarcoat-downgrading-us-credit-rating-bad\/\" target=\"_blank\" rel=\"noopener\">O\u2019Leary<\/a> said Tuesday.<\/p>\n<p>The Heritage \u2064Foundation also slammed \u2063the Biden administration for the \u2063 <a href=\"https:\/\/www.westernjournal.com\/op-ed-establishment-arms-us-credit-downgrade-dont-let-fool\/\" target=\"_blank\" rel=\"noopener\">downgrade<\/a>.<\/p>\n<p>\u201cThis has been a direct result of the Biden administration\u200d spending, borrowing, and printing too much money,\u201d \u2062E.J. \u2063Antoni, a research\u2064 fellow at the think\u2062 tank\u2019s Grover M. Hermann Center for the Federal Budget, told \u200cthe <a href=\"https:\/\/dailycaller.com\/2023\/08\/03\/bidenonmics-blame-credit-rating-downgrade-experts-say\/\" target=\"_blank\" rel=\"noopener\">Daily Caller News Foundation<\/a>.<\/p>\n<p>\u201cAs \u2063the\u2062 yield on US Treasuries marches higher, the cost to service the debt is exploding,\u201d Antoni said. \u201cThe Treasury is spending an annualized $1 trillion according to the latest monthly data from the Fiscal Service. This interest\u200b expense adds to the deficit which \u2062snowballs into a faster growing debt, which means even more \u200bexpensive financing costs, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/janet-yellen-as-congress-for-billions-to-help-other-countries-debt-relief-climate-change-initiatives\/\" title=\"Janet Yellen As Congress For Billions To Help Other Countries\u2019 \u2018Debt Relief,\u2019 \u2018Climate Change\u2019 Initiatives\">higher interest rates<\/a>, etc.<\/p>\n<p>\u201cThat\u2019s a\u200b death spiral.\u201d<\/p>\n<p>Peter Earle, an economist at \u200bthe American Institute for Economic Research, pointed out \u200dthat the downgrade was only the second\u200b in U.S. history, the first \u2062being in \u20642011 when \u200dBarack Obama was president.<\/p>\n<p>\u201cFor the second\u2063 time in history, the first having\u2064 been in \u2064August 2011, the credit\u200c rating of the issuer of US Treasury bonds, the US government,\u2064 has been\u200b downgraded,\u201d Earle said in a post on Twitter, which has been rebranded as X.\u200b \u201cWhat this\u2064 means is that there is increasing doubt \u2063about the US\u2063 government\u2019s ability to meet its financial obligations.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">US Treasury Secretary Yellen called the US credit downgrade\u2063 by\u2063 Fitch \u201coutdated.\u201d Quite accurate: the current\u2063 median debt-to-GDP ratio of AAA-rated\u200d sovereign debt issuers\u200b is currently 39.3%. The last time America\u2019s debt-to-GDP \u200bratio was at that level was \u200bbetween 1978 \u2063&#038; \u20621979.<\/p>\n<p>\u2014 Pete Earle \u2062(@peter_c_earle) <a href=\"https:\/\/twitter.com\/peter_c_earle\/status\/1686831983840673792?\">August 2, 2023<\/a><\/p>\n<\/blockquote>\n<p>Doescher noted that <a href=\"https:\/\/www.westernjournal.com\/watch-biden-gets-torched-live-fox-news-graphics-shows-truth-bidenomics\/\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a> \u2063has \u200dbeen a \u201cdisaster\u201d \u2062for Americans. Rent is up 16 percent, and if \u200bone hopes to buy a home, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/saturday-december-4th-2021\/\" title=\"Saturday | December 4th, 2021\">mortgage interest rates<\/a>\u2064 have soared from around 3 percent when\u2064 Biden took office to 7 percent\u200b today. That can be\u2064 a difference of hundreds\u2064 of dollars a month.<\/p>\n<p>Getting \u200cto and from work is also once again costing Americans more\u2063 as gas\u2064 prices\u2063 are soaring once again.<\/p>\n<p>\u201cThe national average \u200cfor gas \u200bprices stood at\u200d about\u2062 $3.78 a gallon on Tuesday \u2014 about 25 cents higher than \u2064that seen one month ago, according to motor club AAA,\u201d <a href=\"https:\/\/apnews.com\/article\/gas-prices-rising-heat-wave-production-cuts-4cecfbe2ee68eccab7224f163fc676db\" target=\"_blank\" rel=\"noopener\">The Associated Press<\/a> \u2063 reported on Wednesday.<\/p>\n<p>Former Reagan economist Larry Kudlow blasted Biden\u2019s destructive economic \u200dpolicies.<\/p>\n<p>\u201cAfter Joe Biden\u2019s\u200b $2\u2062 trillion American Rescue Plan, \u2064which was his landmark policy,\u200b a 6.5 percent economy\u200c delivered by Donald Trump \u2064sputtered to a 1 percent growth rate in Biden\u2019s first full year, 2022 and \u2062early \u200b2023,\u201d <a href=\"https:\/\/www.westernjournal.com\/reagan-economist-takes-presidents-claims-bidenomics-numbers\/\" target=\"_blank\" rel=\"noopener\">Kudlow said<\/a> in June.<\/p>\n<p>\u201cAnd after Trump \u2062hand-delivered a 1.4 percent inflation rate, under\u200b Bidenomics, it soared to a 9 percent inflation\u2063 rate, which <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reagan-economist-takes-down-presidents-claims-about-bidenomics-by-the-numbers\/\" title=\"Reagan economist debunks President's claims on Bidenomics.\">destroyed family affordability<\/a> and worker income,\u201d the Fox Business host added.<\/p>\n<p>Kudlow had the perfect capper to \u200bhis \u200ccomments. After Biden was heard criticizing former\u200d President Ronald Reagan\u2019s economic policies, Kudlow quipped, \u201cReagan healed the sick and Biden has infected the healthy.\u201d<\/p>\n<p>Sadly, \u200baccording to Fitch Ratings,\u200c things are going to get worse.<\/p>\n<p>\u201cFitch Ratings predicted a recession starting in the \u200dfourth quarter of 2023 later this year and extending into the first quarter of \u200c2024, according \u200cto its press release. The agency also predicted that \u200cthe Federal Reserve will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">raise interest rates<\/a> by September to between \u20625.5 percent and \u20635.75 percent,\u201d \u2062the DNCF reported.<\/p>\n<p>Joe Biden may think he has a success to \u200ccelebrate as part of his re-election campaign, but Americans \u200cbeg to differ.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/bidens-america-much-bidenonmics-cut-paycheck\/\">Biden&#8217;s\u200d America: Here&#8217;s\u2064 How \u2063Much Bidenonmics Has Cut Your Paycheck<\/a> appeared first on\u2062 <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is striving to energize his supporters, asserting that his &#8220;Bidenomics&#8221; strategies have successfully repaired the economy. However, ordinary Americans are not witnessing the touted benefits. In fact, paychecks have significantly suffered under the Biden administration, with numerous factors eroding their earning potential.<\/p>\n","protected":false},"author":180,"featured_media":1993404,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1993403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/180"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1993403"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1993404"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1993403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1993403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1993403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}