President Joe Biden, apparently the only Democrat left who still wants to promote “Bidenomics,” appeared to be a little miffed with the way the media is reporting on his economic programs.
As posted on X on Friday by the Republican National Committee, Biden snapped at a reporter for asking about his outlook on the economy in 2024. “All good. Take a look! Start reporting it the right way,” said Biden.
But there seems to be no “right” way to report something that’s gone so wrong.
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The conservative Media Research Center offered a look at why many Democrats are slinking away from Bidenomics, while acknowledging the legacy media likely won’t share such info.
Under former President Donald Trump, the price of gas actually dropped, falling four cents a gallon while he was in office. During Biden’s first 34 months, gas prices have spiked 42%, going from $2.42 in January 2021 to $3.44 last month.
Real wages have dropped under Biden. In the first quarter of 2021, the median among weekly real earnings averaged $373. But as of the third quarter of 2023, they had fallen to $365. When Trump was in office, real wages actually rose from $352 to $373.
Inflation, as we all know, is bad. Here’s how bad: Consumer prices increased 7.6% during Trump’s entire administration. In just 34 months, Biden has presided over a 17.2% increase, with inflation averaging on monthly basis about 5.8%, compared to just 1.9% under Trump.
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Mortgage rates have more than doubled under Biden, as the average 30-year fixed mortgage rate that under Trump stood at 2.77%, compared to 7.03% now.
From February 2017 to February 2021, Americans’ average personal savings rate increased 86%, spiking from 7.2% to 13.4%. But, by October 2023, the rate had plummeted to 3.8%.
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