Inflation is as plainly obvious as blue in the sky or green on the grass, but that hasn't stopped President Biden and his administration from spinning yarns about how great the economy is doing almost one year into his first term.
Of course, Biden's promise to "build back better" and his claims about how great the economy is doing or how temporary economic pain may be don't work out when Americans look at their budgets. The White House called inflation transitory and reasoned it was something that wouldn't last long as the economy reopened following Democrats' extended Wuhan coronavirus lockdowns. But it didn't, and Americans are not hesitant to express their disapproval of the economy.
"Only 17 percent of workers say they have received raises that kept up with inflation over the past year, according to a survey of 5,365 adults conducted last month," explains a report The New York Times published Tuesday. "Most of the rest say either that they have received raises that lagged price increases or that they have received no raise at all; 8 percent of respondents said they had taken a pay cut."
When even The New York Times is admitting that "in the aggregate, prices have risen faster than pay in recent months" and noting "the Consumer Price Index rose 6.8 percent in November, a nearly four-decade high; average hourly earnings rose 4.8 percent in November, and other measures likewise show pay gains lagging price increases," you know Biden's build back better honeymoon, if ever there was one, is over.
Whether The Times intends its report as a shot across the bow to warn Biden and Democrats that they need to jump into action if they have any hope of stemming the losses that seem imminent in the midterms, or they're just tired of carrying water for a president and administration that seems uninterested in governing well, the report paints a stark picture of how Americans are struggling under Biden's policies.
"Nearly nine in 10 Americans say they are at least 'somewhat concerned' about inflation, and six in 10 are 'very concerned,'" The Times reports. "Worries about inflation cross generational, racial and even partisan lines: 95 percent of Republicans, 88 percent of independents and 82 percent of Democrats say they are concerned."
The Times' also notes that "Republicans have been particularly pessimistic about the economy since President Biden took office a year ago, but in recent months, Democrats too have become more dour."
That's bad news for Biden and his party which will need every one of their voters to be enthusiastic about turning out in the midterms to try and stop GOP candidates from taking control of the House and Senate.
While Americans, including Democrats, are becoming increasingly irked at Biden's failed economic policies, the White House is carrying on as if nothing is wrong, albeit their messaging has become more desperate as they seek positives to highlight.
One doesn't have to look far to find the Biden administration's furious spin-masters putting on an emperor's new clothes-level show of reality-denying nonsense. Loyal lieutenant (and unofficial prime minister) Ron Klain claimed that 2021 ended with "another month of strong private sector job growth" and that Biden's economic agenda has "bolstered our economy."
Vice President Kamala Harris who is more of a spokesperson for the Biden administration than anything else at this point — her assigned duties such as the southern border, police reform, and federal election takeover have not gone well — also asserted that everything is just fine. Bragging about the movement in the unemployment rate — despite repeated months of dismal jobs reports that were termed "big misses" by market watchers — she characterized 2021 as a year of economic progress and insisted "we're keeping that progress going as we move into 2022." If she and Biden think 2021 was a year of progress, they should probably do the opposite in this new year if they want their own party's members, let alone independents or fickle Republicans to perk up.
The disingenuous spin has been going on for months, which makes its ineffectiveness at shifting public opinion all the more clear. Biden can highlight wage growth all he wants, but Americans will keep losing buying power so long as inflation continues to outpace increased pay.
For those who didn't get a raise this year, the situation is even more dire, but you won't hear Biden talking about that. "Jobs are up, wages are up, home values are up," Biden bragged in November. "There is no question that the economy continues to recover and is in much better shape today than it was a year ago," he claimed.
The economy is, of course, not in "much better shape today." And what the Biden administration leaves out is that job creation and wage growth doesn't make for a better economy if Americans can't afford groceries, gas, or their families utility bills.
Clearly, Americans aren't buying the White House's spin. Unless Ron Klain or Kamala Harris show up to pay for Americans' bills, it's hard for them to hide the hit wallets are taking with tweets or gaffe-filled speeches. Biden's agenda that promised to "build back better" has actually made Americans broke-r.
