Published November 23, 2023
WSJ editorial board hits ‘rising’ Thanksgiving food prices despite White House’s sunny talk
The Wall Street Journal editorial board torched the Biden administration and the media for telling Americans they should be thankful for “Bidenomics” when the inflation numbers tell a different story.
“The latest White House lecture is that inflation has fallen from 9.1% in June 2022 to 3.2% last month,” the editorial board wrote in an article headlined, “President Biden’s Thanksgiving Dinner.”
The board continued: “But disinflation—inflation rising at a slower rate—isn’t the same as deflation, which is falling prices. Thanksgiving dinner prices are rising less fast than they did in the last two years, but they’re still rising.”
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SOURCE: www.foxnews.com
Economist: Bidenomics is Putting ‘Astonishing Burden’ on American Households
Published November 23, 2023
Food prices ‘are up more than 20% from when Joe Biden took office’
An economist who is the acting director of the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation, Richard Stern, is marking Thanksgiving Day 2023 with a warning that Joe Biden’s economy is putting an “astonishing burden” on American households.
In a commentary at the Daily Signal, he wrote that the traditional Thanksgiving dinner, at $46.90 in 2020, now is $61.17, “an increase of more than 30.4%.
“This price increase puts an astonishing burden on American households. However, that is only one of many price jumps during the Bidenomics era. Across all categories of food at home, prices are up more than 20% from when President Joe Biden took office, while energy prices are up well over 35%,” he explained.
Bidenomics also has “dramatically pushed up the first year’s interest cost on a typical mortgage from around $8,500 when President Donald Trump left office to well over $24,000 now,” he said.
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SOURCE: www.thegatewaypundit.com
RELATED: Matthews: Bidenomics is Xinomics with American characteristics
President Joe Biden speaks while sitting next to other leaders during the Asia-Pacific Economic Cooperation (APEC) conference, Thursday, Nov. 16, 2023, in San Francisco. (AP Photo/Jeff Chiu)
Published November 23, 2023
Deng Xiaoping, who led China from 1978-89, famously described his effort to integrate limited, free market capitalism into China’s communist system as “socialism with Chinese characteristics.” Taking that step helped China become an economic powerhouse and the world’s second largest economy.
Chinese President Xi Jinping has been steadily undoing Deng’s reforms by imposing top-down, command-and-control policies, and China is suffering for it both economically and politically. Ironically, President Joe Biden has been abandoning the U.S. version of free market capitalism that Deng admired and increasingly embracing variations of Xi’s policies. Call it Xinomics with American characteristics. Here are some examples.
Industrial policy. The International Monetary Fund (IMF) says, “‘Industrial policy’ refers to government efforts to shape the economy by targeting specific industries, firms, or economic activities.” The IMF explains that “In the US, industrial policy is no longer a taboo subject.” Indeed, it is one of Biden’s chief strategies, and has also been key to Xinomics.
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SOURCE: www.thehill.com
RELATED: Jumbled mess’: The Bidenomics brand leaves nearly everyone — including Biden — baffled
President Joe Biden leaves the stage after speaking in the South Court Auditorium at the White House on Oct. 23.Samuel Corum / Sipa USA via AP
Published November 5, 2023
At the beginning, the president was reluctant to embrace the term, but he continues to make his economic policies central to his re-election pitch.
WASHINGTON — No one seems to like “Bidenomics,” the eponymous shorthand for Joe Biden’s economic policies — not voters, not Democratic officials, not even, at times, the president himself.
It’s a term that mystifies Americans and confounds even its namesake. “I don’t know what the hell that is,” Biden said in a speech in Philadelphia earlier this year.
In a September focus group with Pennsylvania swing voters, one participant told the research firm Engagious that the concept was a “jumbled mess,” adding that “it’s really hard to explain.”
Biden is undeterred — at least for now. He has made the state of the nation’s economy a central rationale of his re-election pitch, touting “Bidenomics” at events across the country. He talks about rapid job growth and billions of dollars in spending for roads, bridges and renewable energy projects on his watch.
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SOURCE: www.nbcnews.com
