Kerby Anderson
Throughout the 2024 campaign, President Biden and his administration argued that the economy was doing well. Many voters did not agree with their assessment. And even in the waning days of his administration, President Biden has argued that he is “handing the Trump administration a robust labor market.”
E.J. Antoni (Heritage Foundation) replies, “I’m sorry, I think that the Biden Administration’s own data contradicts that narrative.” He explains that the post-pandemic economic recovery wasn’t as robust as Biden argues. “There are actually fewer native-born Americans working today than there were before the pandemic in 2019.” Instead, the net job growth has gone to foreign-born workers.
Douglas Carr provides another example of economic misperception by posting numerous charts illustrating the impact of Bidenomics. For example, his first chart illustrates that many more American families were worse off now than a year ago, and this was worst for young adults.
Of even greater concern was his chart that documents the financial well-being of high-school educated Americans versus college-degree holders. His chart shows that the financial situation for Americans with just a high school degree has fallen to its lowest point in a half century.
Inflation over the last few years dropped average earnings for most Americans. He also quotes a study from the Brookings Institute that the “effects of rising prices have been even more pronounced for poorer families, and especially families of color.”
President Biden and his administration may believe the economy was good. But Americans were feeling pain at the pump, in the grocery store, and in their wallets.
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Penna Dexter