President Joe Biden will reportedly brag during his State of the Union address on Thursday about the alleged success of “Bidenomics,” a term coined by the Biden administration to put a bow on the president’s economic agenda.
If Biden does boast about his alleged economic success, it could come across as tone-deaf for Americans struggling to afford necessities.
As citizens suffer from prices about 20 percent higher across the board since Biden assumed office, most taxpayers believe Biden’s economic policies will cause prices to rise, a recent YouGov poll found. Only 17 percent think his policies will make prices fall.
Biden will “discuss the historic achievements he’s delivered for the American people and lay out his vision for the future,” Director of the president’s National Economic Council Lael Brainard told the New York Times. Brainard also said Biden will try to contrast his economic successes with former President Donald Trump’s, portraying America First as synonymous with corporate greed.
“So you’re going to see the president focus on continuing to … invest in areas like child care, health care, elder care, paid family leave, and also continue the progress on reducing and eliminating student debt,” White House Chief of Staff Jeff Zients told Politico Playbook.
“Costs [are] still too high in some areas,” Zients said, highlighting Biden’s plan to increase subsidies, which could further raise prices.
Economic experts told Breitbart News that prices are not expected to decrease anytime soon. Inflation, they say, will continue to inch higher.
The increased costs for taxpayers are visible. As Breitbart News reported, a Big Mac burger, a medium beverage, and a medium fry meal now cost $18 in some locations, up $10 from 2018 when Trump was president.
Families’ grocery budgets shrunk in response to the rising cost of food, according to a Bloomberg report from late 2023:
- A pound of ground beef costs $5.23 on average, up from $3.89 in January 2020.
- Coffee is up $2 a pound. Prices for fresh fruits and vegetables are about 14 percent higher.
- At one point, eggs were triple pre-pandemic pricing.
Biden’s economy remains a top three issue heading into the 2024 election. More about Biden’s economy is here.
Wendell Husebo is a political reporter with Breitbart News and a former GOP War Room Analyst. He is the author of Politics of Slave Morality. Follow Wendell on “X” @WendellHusebø or on Truth Social @WendellHusebo.