{"id":2037867,"date":"2023-09-19T18:43:02","date_gmt":"2023-09-19T22:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-food-and-lodging-how-bidenomics-is-crushing-the-little-guy\/"},"modified":"2023-09-19T18:44:43","modified_gmt":"2023-09-19T22:44:43","slug":"gas-food-and-lodging-how-bidenomics-is-crushing-the-little-guy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-food-and-lodging-how-bidenomics-is-crushing-the-little-guy\/","title":{"rendered":"&#8216;Bidenomics&#8217; crushing small businesses with rising costs of gas, food, and lodging."},"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\">24<\/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%2Fgas-food-and-lodging-how-bidenomics-is-crushing-the-little-guy%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=2037867&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 Biden&#8217;s Economic Claims: A Reality Check<\/h2>\n<p>President Joe Biden \u200dand the rest\u200d of the Biden regime continue to tout the success of \u200c&#8221;Bidenomics&#8221; in saving the U.S. economy. However, \u200bit is painfully obvious that they \u200bare out of touch with the reality faced by the\u2063 American working class. For them, the economy may seem \u200dstable, but for the\u200b average American, it is teetering on the brink and Bidenomics has been \u200bnothing short of a disaster.<\/p>\n<p>At a Labor Day celebration in <a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-touts-america-strongest-economy-lowest-inflation-world-despite-soaring-prices\" target=\"_blank\" rel=\"noopener\">Philadelphia<\/a>, the president\u2062 boldly claimed that\u200b Bidenomics &#8220;is working&#8221; and that\u2062 it is a &#8220;blue-collar blueprint for America&#8230;\u200d It&#8217;s for you.&#8221;\u2062 However, the economic \u200ddata tells a \u2063different story. Just last week, the Consumer Price Index (CPI), which measures \u2063inflation for the American consumer, rose more than expected to \u2063an annual rate\u2063 of 3.7%. This rise in inflation was primarily driven by\u2064 skyrocketing gasoline prices, soaring rent and housing costs, and the \u2063increasing prices of basic necessities like food, which \u2063hit\u2064 working-class Americans\u2063 the hardest. Shockingly,\u200d the shelter \u200cindex\u2064 alone has\u2064 been on the \u200drise \u200bfor 40 consecutive months.<\/p>\n<p>Considering that the CPI in\u2064 August 2022 was at 8.3%, consumers are now paying a staggering 12%\u200b more for goods and services in 2023 compared to 2021. In fact, a study from The Heritage Foundation revealed that Americans have lost around $7,100 in spending power since Biden took office in January 2021. And things have only \u200dgotten worse.<\/p>\n<p>Gas prices have \u2062also been on the rise, with the\u2063 national average for a gallon of\u200c gas \u200breaching \u200c$3.85, a $0.05 increase \u200djust last\u200c week. This surge in oil \u2062costs, despite a drop \u2062in domestic \u200cdemand, has pushed oil prices to hover around $90 per barrel.<\/p>\n<p>At the grocery store, Americans \u2064are feeling \u200dthe pinch as well. The average family of four is \u2064now paying $89-132 more per month for the same groceries compared to January 2022, according to the USDA.<\/p>\n<p>The loss of \u200dpurchasing power has forced many Americans to take on debt just to cover their basic needs. Credit card debt in America has\u200c surpassed \u2064$1 trillion for the first time, with\u200b people using their credit cards not for luxury items, but for essentials like\u2063 gas, rent, and food. And with a current interest \u200crate of 28.02%, this debt is becoming increasingly burdensome.<\/p>\n<p>Overall household debt levels have reached a \u2063staggering $17.6 trillion, driven by credit \u2062card debt and auto \u2064loan balances. This represents a spike of $2.9 trillion since the\u2064 end of 2019.<\/p>\n<p>As working \u2063Americans struggle to make ends meet, obtaining credit has become\u200c more difficult. A survey by the New York Fed revealed that 60%\u200d of respondents believe that \u2062getting loans, credit cards, and mortgages has become harder compared \u200bto a year ago.<\/p>\n<p>Furthermore, the\u200b rejection rate \u200bfor \u200dcredit applicants, including those applying for car loans and mortgages, \u2062has increased to \u206321.8%, the highest level \u200csince 2018.<\/p>\n<p>Foreclosures continue to rise, with foreclosure \u200cstarts\u200c up 15% in the\u200b first half \u200cof\u200d 2023, affecting nearly 186,000 properties.<\/p>\n<p>And\u2063 if you&#8217;ve noticed \u200bmore tow \u200btrucks on the road, it&#8217;s not\u200d your imagination. Vehicle \u2062repossessions have increased by over 20% since February 2023.<\/p>\n<p>Inflation is here\u200c to stay, \u200dand high interest rates \u200bseem to be\u200d sticking \u200daround as well. As President Biden seeks reelection, he may want to \u200dfind something\u2064 else to\u200b highlight besides the\u2062 economy.<\/p>\n<p><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE\u2064 TO GET THE DAILY WIRE APP<\/strong><\/a><\/p>\n<p><em>Jim Nelles is a \u200cNavy veteran and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-food-and-lodging-how-bidenomics-is-crushing-the-little-guy\/\" title=\"'Bidenomics' crushing small businesses with rising costs of gas, food, and lodging.\">supply chain\u200b consultant based<\/a> in Chicago. His\u2063 articles \u2062have appeared in the Washington Examiner, Newsweek, Foxnews.com, and the Daily Wire.\u2062 He has served\u2064 as a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/border-crossings-are-at-an-all-time-high-the-homeland-security-department-is-prioritizing-diversity-equity-and-inclusion\/\" title=\"Border Crossings Are at an All-Time High. The Homeland Security Department Is Prioritizing \u2018Diversity, Equity, and Inclusion.\u2019\">chief procurement officer<\/a>,\u2062 chief \u200bsupply chain officer, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/repos-and-foreclosures-on-the-rise-but-bidenomics-is-working\/\" title=\"Repos and foreclosures increasing, yet Bidenomics succeeds.\">chief operations \u200bofficer<\/a> for multiple \u200bcompanies.<\/em><\/p>\n<p><em>The views expressed in this piece are those \u200bof the author and do not necessarily represent those of The Daily Wire.<\/em><\/p>\n<p> <\/p>\n<h2> \u2064 What factors have led to the lowest level of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-social-security-is-the-worlds-largest-ponzi-scheme\/\" title=\"Why Social Security Is The World\u2019s Largest Ponzi Scheme\">labor force participation rate<\/a> since\u2062 the 1970s under the Biden administration?<\/h2>\n<p><span>  Rica reached a record high of $1.1 trillion in August 2023,\u200b a clear indication that the average American is struggling to make ends meet under \u2062the Biden administration&#8217;s economic policies.<\/p>\n<p>Another\u200b aspect that \u2063cannot \u2062be ignored is the impact of the labor market. While President Biden boasts about job creation, the reality is that the labor force participation rate is at its lowest level since the 1970s. Many Americans \u200dhave given up looking for work due to a lack of \u200bsuitable\u2062 job opportunities or the inability to\u2064 find employment that pays \u200denough to support their families. The unemployment rate may seem low, but this is mainly due to discouraged workers dropping out of the labor\u2063 force altogether.<\/p>\n<p>Furthermore, small businesses, the \u2064backbone of the American economy, have been hit hard by Bidenomics. The burdensome regulations and increased taxes have made\u200b it nearly impossible for many small businesses to survive.\u200d According to the National Federation of Independent Business, small business optimism\u2062 has plummeted to its lowest level since November\u200b 2021, with \u2063concerns over government policies and \u2062rising costs cited as major factors.<\/p>\n<p>The Biden administration&#8217;s push for more government intervention\u2064 and spending has also contributed to inflation and a growing national debt. The massive stimulus packages and\u2062 proposed infrastructure plans have put \u200ban enormous burden on\u2062 future generations, who will be left to pay \u2062the price for these reckless policies.<\/p>\n<p>In conclusion, President Biden&#8217;s economic claims are\u200d far from reality. The average American is feeling the effects of rising prices, stagnant wages, and a shrinking job\u200d market. While the Biden administration may talk about a &#8220;blue-collar blueprint,&#8221; the reality is that their economic policies\u200d have been a disaster for the working \u200cclass. It is time for a reality check and a shift towards policies that prioritize the economic well-being\u2062 of all Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden and his administration persist in asserting that &#8220;Bidenomics&#8221; rescued the U.S. economy. However, it is evident that they are disconnected from the struggles faced by the American working class. To them, the economy appears precarious, and Bidenomics has proven to be a catastrophic failure.<\/p>\n","protected":false},"author":1881,"featured_media":2037868,"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":[541],"tags":[],"class_list":["post-2037867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"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\/2037867","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\/1881"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2037867"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2037867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2037868"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2037867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2037867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2037867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}