On Thursday, Issues & Insights posted an article about the impact the Biden administration has had on the pocketbooks of Americans. It’s not a pretty picture.
The article notes:
In one of the most memorable presidential debate moments, Ronald Reagan asked voters if they were better off in 1980 than they were when Jimmy Carter was elected in 1976. The obvious answer was, for most, a resounding “no.” Whoever runs against the Democratic nominee next year needs to bring back that question, because it’s a certainty that in the fall of 2024, we’ll still be worse off than we were in pre-pandemic 2020.
And for that, we can thank, or rather blame, Joe Biden.
In a poll taken earlier this year, 41% of Americans said they were financially worse off than they were two years earlier when Biden took office, the highest number in “ABC News/Washington Post polls dating back 37 years.” Only 16% said they were better off, the lowest number since 2009, when only 8% said their financial situations were better.
At roughly the same time in Donald Trump’s term, only 13% said they were worse off than when he became president while a quarter said their finances had improved.
An America struggling under Biden is not a new development. In a survey conducted in the spring of 2022, 52% said they were worse off than a year earlier; 39% said they expected to be worse off in one year than they were when they were asked the question in June.
Last year’s New York Times|Momentive Poll further discovered that “The number of people who expect periods of widespread unemployment or depression to occur in the next five years has risen to 71%, another new high,” while 41% said “now is a bad time to make large purchases.” This was “up from 36% in April and slightly” exceeded “the 39% that number reached in April 2020 at the start of the COVID pandemic.”
A few months after those poll results were released, the Heritage Foundation published an analysis that determined the average American had lost $4,200 in annual income since Biden stumbled into the Oval Office.
It’s where we are, folks. I will make a calculated guess that most Americans want the economy to improve. Unfortunately, under the Biden administration, the economy will not improve. When the economy tanks in the next month of two, the Democrats will blame the Republicans for not raising the debt ceiling. That’s how Washington works. A recession is coming. The only way the Democrats can avoid being blamed is if the Republicans refuse to raise the debt ceiling–then the Democrats can blame the Republicans. Refusing to raise the debt ceiling will not be the cause of the recession, but Americans who watch the mainstream media will not know that. Hang on to your hats–the next two years is going to be rough, and if a Democrat is elected to the White House in 2024, the next six years are going to be very rough.