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Joe Biden’s disastrous economic policies mean young people are saddled with more credit card debt than previous generations.
The post Nolte: Bidenomics Sinks Gen Z Even Deeper into Unprecedented Debt appeared first on Breitbart.
President Joe Biden falsely alleged Wednesday on CNN that inflation was nine percent when he "came into office."
The post Fact Check: Joe Biden Falsely Claims Inflation Was 9% When He Took Office appeared first on Breitbart.
Donald Trump ripped Joe Biden for Friday's weaker than expected jobs report and promised new economic policies.
The post Donald Trump Pledges to Protect American Workers, Slams Biden’s Weak Jobs Report appeared first on Breitbart.
Former President Donald Trump vowed in Wisconsin to trash President Joe Biden's so-called "Bidenomics" and reinstate "MAGAnomics" upon victory in November.
The post Donald Trump Vows to Trash ‘Bidenomics,’ Reinstate ‘MAGAnomics’ appeared first on Breitbart.
Donald Trump is expected to lay out the horrible effects Bidenflaiton has had on Wisconsin families at a rally in Waukesha on Wednesday.
The post Donald Trump at Rally: Wisconsin Families on Average Lost $20K-$30K Due to Bidenflation ‘Tax’ appeared first on Breitbart.
Almost 38 percent of renters in the United States do not believe they will ever be able to call themselves homeowners, per a survey.
The post Survey: Nearly 38 Percent of U.S. Renters Do Not Believe They Will Ever Be Homeowners appeared first on Breitbart.
People hoping to find work assembling offshore wind turbine engines and blades at the Port of Coeymans in New York are out of luck.
The post Hundreds of Local Jobs Vanish as New York Offshore Wind Projects Canceled appeared first on Breitbart.
The already insane cost of purchasing a home has hit a new high, thanks to the ongoing horror show that is Bidenomics.
The post Nolte: Bidenomics Drives House Prices to Another Record High appeared first on Breitbart.
Biden talks up the economy’s strong growth but doesn’t address the fact that the inflation rate he’s given us surpasses the GDP growth rate. He also doesn’t mention that much of this growth was funded directly by government stimulus and other financial aid given to the public.
The White House claims the economy is roaring, and mainstream media suggests only Republicans doubt it. However, consumer sentiment is declining, albeit with a slight recent uptick, which both the White House and mainstream media quickly seized upon as a positive trend. Inflation also rose this month, but the White House contends it’s down compared to 2022 levels. It appears the White House chooses to cite macro or micro data depending on what makes them look better.
The average gas price increased by 7% this month compared to last month. However, it remains lower than the $4.90 it hit in 2022. So, I suppose the White House can chalk up another win.
The reality is, both the average American and business owner perceive the economy as dismal and lack confidence in the future. Despite high inflation, the specter of recession still looms large, suggesting stagflation may become a reality in the near future. We could easily find ourselves grappling with growing unemployment alongside escalating prices. Technically, we’ve been in a recession for some time now, but Janet Yellen’s assertion that a recession isn’t defined by two consecutive quarters of negative growth was surprising to me and most university economics professors, as it contradicts the textbook definition of a recession.
Regarding stagflation, it’s defined by rising prices and growing unemployment. In the strictest sense, the White House is correct that we haven’t reached that point yet. More jobs are being created each month. However, if you’re looking for a job, the difficulty in finding one is obvious. This is largely due to the fact that 70% of the new jobs being created are part-time, while about 20% are government jobs. Depending on one’s definition of “jobs,” an argument could be made that significant numbers of new full-time private sector jobs are not being created.
The truth is, the economy has been on shaky ground throughout Biden’s entire administration. The only thing preventing a complete collapse is government stimulus and government job expansion, both of which add to the deficit and debt, merely postponing the inevitable. And that inevitable end is fast approaching.
Several US municipalities have implemented excessively high minimum wages, reaching up to $20 an hour. As a result, retailers, fast food chains, and ride-hailing apps like Lyft and Uber are exiting these markets. Grocery stores are transitioning to self-checkout systems, while fast-food establishments are introducing order kiosks. Moreover, many CVS and Walgreens drugstores have significantly reduced their floor staff, in some instances to just one employee.
Under Bidenomics, we’ve witnessed a 46% increase in gas prices, with mortgage rates inching closer to 7%. Meanwhile, the demand for new mortgages is dwindling.
Real wages, adjusted for inflation, have dropped by an average of $371. The White House’s deception on this matter lies in presenting a chart of inflation that peaked in June 2022 and has since been declining, while wages have been on the rise. At first glance, it may seem that the worst of inflation is behind us and wages now surpass inflation. However, it’s crucial to remember that prices have not decreased.
The rate at which wages are increasing, at 5%, now exceeds the rate of price increases, at 3.2%. However, over the past four years, we’ve seen cumulative inflation of nearly 20%. So, whereas you once earned a dollar, you now earn $1.05, while goods that previously cost $1.00 now cost $1.20. As a result, your real wages, adjusted for inflation, have decreased.
In short, the money you earn buys you less stuff.
Due to a decline in inflation-adjusted income, US savings rates have dropped to 3.6% from the pre-pandemic level of 6%. Credit card delinquencies and car loan defaults have reached record highs. Many Americans report borrowing money each month just to cover their cost of living.
Bidenomics is a disaster, and the White House is still considering cutting interest rates, which would cause inflation to skyrocket.
The post Credit Card Defaults, Inflation, Part-Time Jobs: The Economy Is a Disaster appeared first on The Gateway Pundit.
Former Speaker of the House Newt Gingrich has suggested President Joe Biden’s “economic failure” may well be his downfall in November’s presidential election.
The post Newt Gingrich: Bidenomics ‘Means You Get Less for More’ appeared first on Breitbart.
Delinquency rates among American credit card holders are at an all-time high, according to a Federal Reserve Bank of Philadelphia report.
The post Nolte: Bidenomics Drives Credit Card Delinquencies to Record High appeared first on Breitbart.
The U.S. Postal Service (USPS) has proposed a 7.8 percent price increase for stamps to "achieve financial stability."
The post U.S. Postal Service Announces Sixth Price Increase Since 2020 appeared first on Breitbart.
The prices of auto repair, auto insurance, and parking have surged since 2023, according to March Consumer Price Index (CPI) data.
The post Car Ownership Prices Accelerate: Bidenflation Hits Auto Repairs, Car Insurance, and Even Parking Prices appeared first on Breitbart.
The costs of daycare and school have soared to nearly five percent since 2023, March Consumer Price Index (CPI) data shows.
The post Kidflation: Daycare and School Prices Soar appeared first on Breitbart.
Prices of dental care, eye care, and personal care have increased since 2023, March Consumer Price Index (CPI) data revealed Wednesday.
The post Open Wide: Bidenflation Pushes Up Dental Care, Eye Care, Personal Care Products appeared first on Breitbart.
Inflation under Joe Biden has sent the costs of maintaining a household soaring. Rent, electricity, and garbage collection prices are all up.
The post Gimme Shelter: Inflation Pushing Up Rents, Garbage Collection, Electricity appeared first on Breitbart.
Retail giant Best Buy is conducting massive layoffs within its Geek Squad tech support division, leaving numerous employees suddenly jobless and struggling to come to terms with their unexpected termination.
The post Bidenomics in Action: Best Buy’s ‘Geek Squad’ Tech Support Unit Hit with Massive Layoffs appeared first on Breitbart.
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