{"id":2353411,"date":"2024-10-10T19:18:01","date_gmt":"2024-10-10T23:18:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-same-day-reports-share-bad-news-with-retirees-and-homebuyers\/"},"modified":"2024-10-10T19:19:30","modified_gmt":"2024-10-10T23:19:30","slug":"bidenomics-same-day-reports-share-bad-news-with-retirees-and-homebuyers","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-same-day-reports-share-bad-news-with-retirees-and-homebuyers\/","title":{"rendered":"Bidenomics: Same-Day Reports Share Bad News with Retirees and Homebuyers"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/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%2Fbidenomics-same-day-reports-share-bad-news-with-retirees-and-homebuyers%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=2353411&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--><p>The article\u2062 discusses the negative impacts of\u2064 &#8220;Bidenomics&#8221; on retirees\u2063 and would-be homebuyers, highlighting inflation and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mortgage-applications-fall-to-lowest-level-since-december-2019\/\" title=\"Mortgage Applications Fall to Lowest Level Since December 2019\">rising mortgage rates<\/a>. \u2063Social Security \u2063recipients will see only a 2.5% cost-of-living adjustment (COLA) for 2025, a decrease from 3.2% \u200cin 2024 and a significant drop from \u200b8.7% in 2023. Despite this adjustment, many \u200dretirees \u200bfeel that inflation still burdens\u200d them. For example,\u200b Cindy \u2064Christina from Lebanon,\u200d Oregon, shares her experience of\u2062 groceries \u200bbecoming unaffordable. An analysis shows that COLA increases have often failed to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newt-gingrich-greater-danger-means-less-pay\/\" title=\"Newt Gingrich: Greater Danger Means Less Pay\">match inflation rates<\/a> over the past years. Additionally, mortgage rates are\u2063 climbing, currently at 6.32%, which makes homeownership increasingly difficult for younger generations. The \u200darticle \u2062compares the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/governor-glenn-youngkin-the-chaos-that-we-see-around-the-world-and-at-home-is-bidens-fault\/\" title=\"Governor Glenn Youngkin blames Biden for global and domestic chaos.\">current economic\u2063 situation<\/a> under\u2064 President Biden with that of former President Trump, \u200dsuggesting that voters may prefer Trump&#8217;s record on \u2062mortgage rates. As the election between Trump and Vice President Kamala Harris approaches, economic issues are deemed \u2064crucial for \u200dvoter sentiment. Concerns linger about Harris continuing Biden&#8217;s\u2064 economic \u200dpolicies, leaving voters skeptical about future improvements.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> <script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p>If you needed convincing Bidenomics is a bad deal look no further then how inflation is affecting retirees and what mortgages rates are doing.<\/p>\n<p><a href=\"https:\/\/www.cnn.com\/2024\/10\/10\/politics\/social-security-cola-increase\/index.html\" target=\"_blank\" rel=\"noopener\">CNN<\/a>, citing the <a href=\"https:\/\/www.ssa.gov\/cola\/\" target=\"_blank\" rel=\"noopener\">Social Security Administration<\/a>, reported on Thursday that Social Security recipients will only see a 2.5 percent cost of living adjustment for 2025, down from 3.2 percent in 2024, and a much higher 8.7 percent adjustment in 2023 despite retirees still feelings that <a href=\"https:\/\/www.westernjournal.com\/americas-biggest-french-fry-producer-forced-make-significant-cuts-inflation-takes-toll\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> is a major issue.<\/p>\n<p><a href=\"https:\/\/abcnews.go.com\/Business\/wireStory\/average-us-30-year-mortgage-rate-surges-632-114688885\" target=\"_blank\" rel=\"noopener\">ABC News reported<\/a> the same day that mortgage rates are shooting back up from 6.12 percent last week, to 6.32 percent this week as President Biden&rsquo;s legacy with both issues in mind will surely be one of ineptitude concerning the economy.<\/p>\n<p>As CNN reports it, Cost-of-Living Adjustment (COLA) report for social security recipients is based of inflation rates which have been going down after hitting the highest that rate has been in two decades in <a href=\"https:\/\/www.westernjournal.com\/kari-lake-makes-two-recommendations-supporters-trying-avoid-election-day-chaos-seen-2022\/\" target=\"_blank\" rel=\"noopener\">2022<\/a>.<\/p>\n<p>Whatever the numbers say, retirees that spoke to CNN don&rsquo;t feel the burden of inflation has been lifted as many still struggle to make the most of what they receive.<\/p>\n<p> <script type=\"text\/javascript\"> \t\t\tif ( getCookie( \"ff_subbed\" ) ) { \t\t\t\tdocument.getElementById(\"stnvideo\").remove() \t\t\t} \t\t<\/script> <\/p>\n<p>Cindy Christina of Lebanon, Oregon, gave a story many of us are familiar with as she says $150 used to buy her several bags of groceries and supplies prior to <a href=\"https:\/\/www.westernjournal.com\/watch-angel-reese-slammed-bragging-covid-vaccinations-waiting-next-one-come\/\" target=\"_blank\" rel=\"noopener\">COVID<\/a>. Now? That same $150 will net her two bags.<\/p>\n<p>She and her husband had to finance replacing the brakes on their 1996 Dodge, while she stated she eats cereal for dinner to save money.<\/p>\n<p>Both she and her husband Wally rely on social security but don&rsquo;t feel the adjustments are enough.<\/p>\n<p>According to a Senior Citizens League analysis cited by CNN, while COLA is supposed to account for inflation, over the past five years, only 2023 has beaten it, with eight of the last 15 years falling short.<\/p>\n<p>Retirees are feeling Bidenomics, but so are potential <a href=\"https:\/\/www.westernjournal.com\/california-senate-passes-bill-give-illegal-immigrants-money-buy-homes-government-points-problem\/\" target=\"_blank\" rel=\"noopener\">homebuyers<\/a>.<\/p>\n<p>With the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economist-u-s-housing-market-in-deep-recession\/\" title=\"Economist: U.S. Housing Market in &quot;Deep Recession&quot;\">average 30-year mortgage rate<\/a> getting an increase, home buying for younger people seems more and more distant.<\/p>\n<p>Granted 6.32 percent is a far cry from the 7.57 percent rate a year ago, or the 7.22 percent from May, but this rate still isn&rsquo;t promising.<\/p>\n<p>In September 2023, <a href=\"https:\/\/www.newsweek.com\/chart-reveals-mortgage-rates-skyrocketed-joe-biden-1829825\" target=\"_blank\" rel=\"noopener\">Newsweek reported<\/a> on and analyzed the mortgage rates when looking at President Joe Biden&rsquo;s term at a comparable point to former President Donald Trump&rsquo;s:<\/p>\n<p>&ldquo;Rates went down from 4.09 percent to 2.77 percent between January 19, 2017, and January 21, 2021&mdash;when Trump was president&mdash;but shot up from 2.77 percent to 7.09 percent between January 21, 2021, to August 17, while Biden has been president.&rdquo;<\/p>\n<p>Sure, Biden&rsquo;s current rates aren&rsquo;t what they were a year ago, but potential homebuyers are probably wishing <a href=\"https:\/\/www.westernjournal.com\/fox-news-makes-last-minute-offer-kamala-harris-donald-trump-campaigns\/\" target=\"_blank\" rel=\"noopener\">Trump<\/a> was president (again) right about now.<\/p>\n<p>With only a month to go before the election between Trump and Vice President Kamala Harris, these numbers for retirees and potential homebuyers matter.<\/p>\n<p>While Harris has stated <a href=\"https:\/\/www.westernjournal.com\/kamala-harris-got-second-chance-answering-joe-biden-question-didnt-go-much-better\/\" target=\"_blank\" rel=\"noopener\">she is not Biden<\/a>, she hasn&rsquo;t offered Americans anything different from what he&rsquo;s giving them.<\/p>\n<p>Voters have no reason to believe she won&rsquo;t continue his disastrous inflationary spending policies that led us here.<\/p>\n<p>The economy is a powerful means of swaying voters.<\/p>\n<p>While the mainstream media can lie and cover for the Biden\/Harris administration on anything from foreign policy to illegal immigration, voters know the economy because they personally see how bad it is every day.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! ( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<p><script>console.log(\"ad slot (BA1)\")<\/script> <\/p>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you need proof that Bidenomics is unfavorable, consider the impact of inflation on retirees and rising mortgage rates. CNN reported that Social Security recipients will receive only a 2.5% cost-of-living adjustment for 2025, a decrease from 3.2% in 2024<\/p>\n","protected":false},"author":1,"featured_media":2353412,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/10\/these-two-4.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[12626,35077,36435,24735,11970],"class_list":["post-2353411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-bidenomics","tag-economic-impact","tag-financial-news","tag-homebuyers","tag-retirees"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/10\/these-two-4.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2353411","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2353411"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2353411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2353412"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2353411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2353411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2353411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}