December 8, 2023 | Rapid Response | RNC Communications
Economy

"Bidenomics" =/= "Better Off"

Rapid Response

Just 14 percent of Americans say Biden has made them “better off,” according to a recent poll — while barely a quarter say “Bidenomics” has been a good thing.

Today’s jobs report does nothing to assuage that unease as wage growth continues to slow and prices remain way too high. In fact, November was tied for the lowest month of wage growth in more than two years as workers and families reel from “Bidenomics,” while the labor force participation rate remains below pre-pandemic levels.

There was also zero growth in manufacturing jobs last month — with the supposed “gains” wiped out entirely with the return of 30,000 striking auto workers.

Meanwhile, “Bidenomics” continues to decimate Americans’ finances:

  • Americans are spending more than $11,400/year to maintain the same standard of living they had in 2021.
  • The average middle-class household has lost over $33,000 in real wealth in just the past year.
  • The nationwide average for gas is $3.19/gallon — almost $1/gallon higher than when Biden took office.
  • The Federal Reserve has hiked interest rates — now at their highest in more than two decades — almost a dozen times since March 2022, making it much harder for Americans to buy a home, finance a car, pay off debt, and keep small businesses afloat.

Americans know what to do to supercharge Biden’s lagging economy: elect Republicans.