It's the Economy... Again
By this November 5, a high electoral price from the Democrats may be called in due to a fractured American economy. In the runup, there are several negative economic indicators flashing red -- factors soon to converge in force, each one predicated on Biden’s incompetence. His economic climate tells against the erstwhile middle class, or the legally voting ‘majority,’ and its prosperity.
The collective, negative impact of Biden’s combined and often unilateral federal actions, the upshots of bad policies and mismanagement, suggests that we will soon have a new, expanded class of ‘the poor’ in the United States -- an historical phenomenon that has eventually manifested itself in every country subsequent to communist/socialist takeover.
Biden’s policies and directives are coalescing and advancing in a hushed, cumulative economic effect very quickly. Many may soon find themselves squarely placed in a traditionally avoided no-man’s land, as the newly poor, separate from the middle class, or the working poor, or the subsidized/welfare poor.
Many do not perceive misfortune as exactly closing in. Why not? Because the suffering is in development, because we were stunned by the COVID years into thinking the bad stuff was just temporary, and because, in waiting for the 2024 election, we are not clocking on current daily survival threats as we might otherwise. And because the federal bureaucracy and its media enablers are flat-out lying about the economy and have been since 2020. Humpty-dumpty is still, sort of, sitting on the wall, but he is slipping, and soon he may fall.
When the Great Depression hit, we had joblessness on a scale never seen before in the U.S. Were it not for the federal ‘cover’ of FDR’s fixes, which now have graduated to over several trillion dollars expended annually on a slew of federal subsidies, entitlements, social welfare, and government salaries and benefits, we would already have much more visible poverty in the U.S. Notwithstanding, the new poverty is advancing, very comprehensively and rapidly, since Biden’s presidential victory in 2020. His ‘administration’ has worked diligently to unravel our prosperous majority from day one.
To get a handle on the gravity of what may be coming in the next six months, look at what Biden is doing to grab economic control across the board: energy prices are driven up because of his tinkering with energy supplies and restrictive energy policies. Unemployment figures are rigged downwards to reflect part-time and/or seasonal/immigrant jobs as full time. Interest rate increases are ‘explained’ by the feds as cautionary but appear now semi-permanent. Huge costs are accruing in ‘supporting’ illegal immigrants, in student loan forgiveness, in piles of new regulatory costs (legal or not), in tax increases on the middle class, in federal land and natural resource grabs, and in crippling regulatory restrictions on farming, energy, transportation, and, of course, in the costs of war.
Additionally, Biden’s federal underwriting of business/corporate production costs related to his ubiquitous and dubious ‘climate change’ fixes are economic disincentives -- as well as a disgrace for independent enterprise.
In a further cost complication, Biden’s serial infrastructure and equipment (see EVs, solar grids) fails are themselves coming at great expense to consumers. Supply-chain restrictions consequent to infrastructure fails drive up consumer costs. Serial emergencies in our infrastructure’s ‘accidents’ and incompetencies are driving the bills way up -- Baltimore city reported in March that the Francis Scott Key bridge collapse could run up to, for the city alone, a whopping $9 M per day.
As this bigger costs picture emerges more clearly in the coming months, the implications of the shocking damage to American productivity and standing in energy, agriculture and transportation will not be lost on the ‘average voter.’
Even now, the economic facts are available to those who are willing to dig for them:
Both rental and mortgage costs are now unaffordable. People are not grocery shopping as their needs dictate, because the prices of all food products are inflated by 40%. Rent prices are now 30% higher than they were before the pandemic.
Those Americans with, say, four-five year set mortgage interest rates (now already unaffordable due to related housing costs such as rising insurance) at pre-pandemic levels, may be losing their original rates by 4-7 percentage point increases, at least, in 2024 and 2025.
The huge growth of the homeless population -- while affected of course drastically by illegal immigration -- is yet another indicator of economic collapse. “Rising rents and low housing inventory spur an unprecedented level of homelessness in America”
Older adults are being increasingly driven into poverty.
According to the latest data from the U.S. Census Bureau, 14.1% of adults aged 65 and older lived in poverty, as defined by the Supplemental Poverty Measure, compared with 9.5% in 2020. That's about a 50% jump in just three years, meaning roughly 8 million older adults now live in poverty.
Biden continues to lie about the economic circumstances of our country, and we have no reason to believe he will change:
President Joe Biden defended his handling of the economy hours after a key economic report found that progress on slowing inflation has stalled, a continued bane on Biden’s presidency.
US consumer prices picked up again last month, marking a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. Inflation has dogged the president and his approval ratings on the economy have suffered as prices have soared following the easing of the Covid-19 pandemic.
Biden pointed to success “dramatically” reducing the rate of inflation from 9% to 3% as he sought to convince Americans that “we’re better situated than we were when we took office, where inflation was skyrocketing.”
Inflation, however, began to rise in 2021 -- Biden’s first year as president -- as normalcy began to return to American life following the worst parts of the pandemic. It peaked in June 2022 as the rate of inflation reached 9.1%” (emphasis added)
Ruling-class Democrats talk the talk about sharing the wealth, but their own elitism and flagrant double standards, e.g. in extravagant life styles and stock-market shenanigans, tell a different tale. The elite’s lion’s share of our national wealth has gone from grown even more bloated under Biden:
“In the third quarter of 2023, 66.9 percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth.”
Americans may take note of these disparities.
At the least, we can probably expect that, by November, American voters will be ready enough to weigh in -- if only on the strength of their wallets.
Image: PickPik
CBS Poll: Half of Swing State Voters Say Economy Got Worse Under Biden
About half of voters in swing states Wisconsin, Pennsylvania, and Michigan believe the economy got worse under President Joe Biden’s management, a CBS News poll found Sunday.
With the economy ranked as the top 2024 issue, Biden’s poor marks in the three key swing states are terrible news for the president’s reelection hopes.
RELATED VIDEO — Zakaria: Biden’s Plan Is “Give in to the Left” on Cultural Issues and Say “the Economy Is Doing Great”:
Seven states, (Michigan, Pennsylvania, Wisconsin, Arizona, Georgia, Nevada, and North Carolina) will decide the president, longtime Democrat adviser Doug Sosnik wrote in the New York Times. If Trump wins one or more of Pennsylvania, Michigan, and Wisconsin, Biden’s chances of obtaining 270 electoral votes become narrower, he said.
Recent polling shows former President Donald Trump leads in Pennsylvania and Wisconsin.
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Below is the share of voters who say the economy became worse under Biden, CBS News reported:
- Wisconsin: 48 percent
- Pennsylvania: 50 percent
- Michigan: 50 percent
With inflation looming large in their minds, most voters don’t say there’s even been improvement in their state’s economy post-pandemic: only a quarter say it has improved in the years since, with about half saying it has actually gotten worse.
And few say their own finances are better compared to before the pandemic. This may be an essential part of their memory — comparing to before the coronavirus.
Voters in the three swing states looked back on Trump’s economy more fondly than Biden’s, the poll found.
Wisconsin
- Biden’s rating: 42 percent
- Looking back at Trump’s: 62 percent
Pennsylvania
- Biden’s rating: 38 percent
- Looking back at Trump’s: 61 percent
Michigan
- Biden’s rating: 38 percent
- Looking back at Trump’s: 62 percent
The poll sampled 1,245 registered voters in Wisconsin, 1,306 registered voters in Pennsylvania, and 1,287 registered voters in Michigan from April 19-25 with a 3.2 margin of error.
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.
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Rust Belt Despair: West Virginia Workers Forced to Find New Jobs as Plant Closes from Lack of Tariffs
Hundreds of West Virginia workers have been thrown back into job hunting in a labor market with slashed wages as a plant in Weirton closed last week. The plant closure comes as the federal government refused to impose tariffs on cheap imported tin.
“It’s a tough situation. We’re used to working locally and making a decent wage. Everything [else] around here is a 40 percent pay cut,” Dan Strapazzon, 41 years old, told the Pittsburgh Post-Gazette about finding a new job.
Strapazzon, along with about 900 others, were told in February they would be laid off at Weirton’s Cleveland-Cliffs Inc. tin plant.
The reason for the closure, executives said, is because the United States International Trade Commission (ITC) refused to allow the Commerce Department to impose tariffs on unfairly subsidized and cheap imported tin products from Canada, China, Germany, and South Korea.
“… the ITC shockingly ruled against [the] imposition of tariffs, keeping the uneven playing field in place and making it impossible for us to viably produce tinplate,” Cleveland-Cliffs executives said in a statement about the plant closure.
Last week, many of the laid-off Cleveland-Cliffs workers headed to a job fair in the hopes of finding nearby work with similar wages and benefits. Some of the workers said they may get out of the industry altogether because of its instability.
“Up to this point, it’s provided a great life for me, my parents, and my grandparents,” Josh Martin, 28 years old, told the Post-Gazette. “But now it seems like every two years something’s closing.”
Many locals in Weirton, who rely on jobs in supporting industries, hope the tin plant will reopen under new management.
Local United Steelworkers (USW) 2911 President Mark Glyptis says he is talking with Cleveland-Cliffs and the transformer manufacturer ERMCO about retooling the plant to manufacture electrical components.
The “Godsend” idea would bring anywhere from 800 to 1,000 jobs back to Weirton, according to Glyptis.
“It’s a substantial investment,” Glyptis said. “It’s a very large investment to transform this mill into making transformers there’s a very large amount of high-tech electrical equipment that needs to be bought, installed. There’s some lead time in doing that with this equipment, but it’s a very good business to be in.”
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.