The bogus narrative of the economic prosperity brought by “Bidenomics” doesn’t match the reality that most Americans are feeling the pain of a prolonged period of sustained inflation with new numbers from Moody’s providing a fact check about the effects of President Joe Biden’s policies.
As Biden, the White House, and an army of propagandists continue to gaslight the public about the true state of the U.S. economy, the respected economic analysis firm did the hard work of crunching the numbers and found that the typical American household spent over $200 more in July for the same goods and services that they did last year and a staggering $709 more than two years ago in 2021, the year that the Biden regime took over the policy-making apparatus.
“To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago,” wrote Moody’s Analytics chief economist Mark Zandi on Twitter/X.
To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago.
— Mark Zandi (@Markzandi) August 10, 2023
While the crushing effects of inflation may have moderated somewhat from last year, real Americans fully understand that they have suffered under Biden’s tenure with trips to the grocery store becoming a painful experience and gas prices once again on the way up, the numbers are so brutal that even CNN has been forced to cover them.
The typical American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics. https://t.co/ij5PVGa2rK
— CNN (@CNN) August 11, 2023
In an email to CNN, Zandi attributed much of the increased spending being in housing costs, “He added that families are also spending more at the grocery store; on buying, maintaining and insuring vehicles and on recreational services like cable,” the outlet reported.
The Moody’s economist also engaged in some familiar excuse-making for why earnings remain low, telling CNN, “Real earnings remain below what they would have been if not for the pandemic and the Russian war, which is weighing on the collective psyche.”
Many were happy to point out that the real definition of “Bidenomics” is inflation.
Now I finally understand what this whole Bidenomics thing is about. New term for inflation?
— leannbagley (@leannbagley) August 11, 2023
Bidenomics is so bad for American families, even CNN is refusing to cover for the president’s disastrous economic agenda. https://t.co/Bm6v1NdR9L
— Guy Reschenthaler (@GReschenthaler) August 13, 2023
Bidenomics and the Inflation Reduction Act working as intended.
— TWEETO BANDITO (@DjptrsnMana) August 12, 2023
Bidenflation is very real and very painful to the average American household. And once prices go up due to inflation they don’t come back down no matter how hard Biden and Dem propagandists make believe that it’s getting better.
— Don’t Be Ignorant (@dontbei) August 12, 2023
#Bidenomics pic.twitter.com/igChdUnp1C
— JWF (@JammieWF) August 12, 2023
Now I finally understand what this whole Bidenomics thing is about. New term for inflation?
— leannbagley (@leannbagley) August 11, 2023
Bidenomics! Telling voters everything is great? Biden ignoring facts: there’s no affordable housing/rent, no univ. healthcare (dying in debt), crippling student debt restarting, have to work multi jobs to survive, price gouging, monopolies, no retirement, can’t afford groceries. https://t.co/b1YfKZVB4z
— Professor Ben Alonzo (@benbiotic) August 11, 2023
Don’t let anyone try to tell you things are better under Biden. They clearly aren’t living in reality if they believe that https://t.co/stXRSsnO8J
— Washingtons ghost (@hartgoat) August 11, 2023
It may not be a good omen for Biden’s reelection prospects When even CNN is forced to tell the truth.
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