According to Joe Biden, referencing a recent survey from the Federal Reserve, more Americans feel financially comfortable now than at any time since 2013.
Contrary to Biden’s clams, many Americans are struggling. According to a recent Fox News poll, “Eight-two [82] percent of voters rate the economy negatively, including 57% who describe it as poor — the highest in a decade.” Of these, 65% felt pessimistic about the economy. This was an 18-point increase from last year and 30 points higher than four years ago.
As reported by Fox News, the poll included more specific information about Americans’ attitudes about the economy:
Nine in 10 report the cost of food and gas are a problem for their family. That includes majorities who say current grocery (55%) and gas prices (67%) are a “major” problem. For voters in households earning less than $50,000 annually, nearly three-quarters call gas prices a major problem (72%). And by a 50-32% margin, more voters say President Biden’s policies are responsible for current gas prices than blame Russian President Putin’s war with Ukraine.
While Biden sits comfortably in the White House, Americans are facing financial hardships. The average price for a gallon of unleaded gasoline rose to more than $5 nationally and is expected to continue to rise. Food prices are also high. As reported by NBC News, “Americans last month saw the biggest increase in their food bills in 40 years amid rising labor and energy costs, as well as global supply chain issues.” The food price index rose by 10.1% in May as compared to last May. To top things off, inflation is the highest it has been since 1981.
A recent statement by EJ Antoni, research fellow for regional economics with The Heritage Foundation’s Center for Data Analysis, further undermines Biden’s claim. According to Antoni, “Americans are losing savings and purchasing power due to the ‘hidden’ tax of inflation.” He further explained that Americans are unable to buy as much today (compared to 14 months ago) due to rapidly rising prices, and that “real earnings — earnings adjusted for price changes — have dropped 4.5% on Biden’s watch.”
Biden’s claim reflects a major disconnect from what is really happening “on the ground.” Either Biden does not know what is happening or he is simply choosing to ignore it. No matter the reason, his attempt to paint a rosy picture of Americans’ current financial circumstances is unconvincing and does nothing to help the many Americans who are struggling to pay their bills and/or feed their families due to his reckless policies.
Americans deserve much better.
Mr. Hakim is an attorney and columnist. His articles have been published in The Washington Examiner, The Daily Caller, The Federalist, American Thinker, and other online publications. He is also a regular guest on OANN’s Tipping Point, and has appeared on Newsmax, The Dave Weinbaum Show, and Real America’s Voice.
