As the holiday season approaches, Americans are facing financial challenges due to the current state of the economy. President Joe Biden’s economic plan, known as Bidenomics, aimed to “restore the American dream” but has failed to achieve this goal.
With conflicting reports on the state of the economy at the macro level, some speculate that a recession may be imminent or already underway. In October, economist Paul Krugman tweeted that inflation had ended based on a chart that excluded essential items such as food, energy, shelter and used cars. This tweet sparked backlash and highlighted the disconnect between the economy’s performance and people’s daily struggles.
While some economists and President Biden argue that the economy is doing well, this outlook may not reflect reality for those who must buy or finance essentials. This raises questions about whether Biden’s economic plan is truly designed to help people achieve the American dream, especially as basic necessities become increasingly expensive.
In light of these challenges, it’s worth considering what a nightmare it would be under Bidenomics, especially as prices continue to rise for items such as a £6.25 pack of chicken breast.