11.14.23

Bidenomics Is A Stubbornly Expensive Reality

“Earlier this month, President Biden told a gathering in rural Minnesota that, ‘Bidenomics is just another way of saying ‘the American Dream.’ But the American people just aren’t buying it.”

WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the economy:

“This morning’s October inflation report tells a story that has become familiar on President Biden’s watch. Prices remain stubbornly high, and well above the Federal Reserve’s 2 percent target.  Prices are up 3.2 percent year over year. And cumulative inflation since the President took office now clocks in at 17.6 percent.

“Even as the rate prices are growing, working Americans are growing more frustrated with an expensive new normal. The price of a gallon of milk has risen 15.8 percent since January 2021. Meanwhile, a gallon of gas is going for 54.8 percent more.

“As one small business owner in Texas put it to reporters recently, ‘I’m trying to think of one area where prices have eased and I can’t think of anything.’

“Earlier this month, President Biden told a gathering in rural Minnesota that, ‘Bidenomics is just another way of saying ‘the American Dream.’ The American people just aren’t buying it. 

“According to one recent survey, only 14 percent of US voters have said President Biden has made them better off. And 65 per cent of voters said they had cut back on non-essential spending.

“So, if the President thinks that Bidenomics is the American Dream, he might want to pay closer to how many Americans are desperate to wake up.”

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Related Issues: Inflation, Economy