THE STUPID ECONOMY
Written by on June 29, 2023
CAL THOMAS COMMENTARY JUNE 30,2023
PRESIDENT BIDEN FELT IT NECESSARY ON WEDNESDAY TO APPEAR BEFORE CAMERAS AND READ A TELEPROMPTER WHICH SAID THE ECONOMY IS DOING GREAT UNDER HIS ADMINISTRATION. DO YOU FEEL IT? I DON’T. FROM EVERYONE’S 401K, TO SUPERMARKET AND GAS PRICES AND INTEREST RATES, EVERYTHING LOOKS JUST THE OPPOSITE OF WHAT BIDEN SAYS. NOTHING NEW THERE.
AS THE WALL STREET JOURNAL NOTES, BIDEN’S APPROVAL RATING ON THE ECONOMY IS 38 PERCENT. HE CAN TALK ALL HE WANTS ABOUT ROADS AND NEW PLANTS, BUT WHAT ABOUT THINGS THAT TOUCH THE LIVES OF EVERY AMERICAN?
WE HAVE THE WORST INFLATION IN 40 YEARS. AVERAGE HOURLY EARNINGS WERE $11.39 WHEN BIDEN TOOK OFFICE, BUT STARTED TO DECLINE IMMEDIATELY AND DIDN’T STOP FALLING UNTIL INFLATION PEAKED IN JUNE OF LAST YEAR. THEY HAVE BOUNCED UP A LITTLE BUT WERE STILL BACK ONLY TO $11.03 IN MAY. THAT’S A 3.16 PERCENT DECLINE IN REAL EARNINGS FOR THE AVERAGE WORKER ACROSS ALL 29 MONTHS OF THE BIDEN PRESIDENCY.
BIDEN CAN SPIN THE ECONOMY ALL HE WANTS, BUT HE’S NOT GOING TO FOOL PEOPLE WHO LIVE HIS ECONOMY. I’M CAL THOMAS.
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