White House Press Secretary Karine Jean Pierre praised Biden’s trickle-down economy during an interview on Friday.
Jean Pierre claimed, “it’s clear Americans are starting to feel President Biden’s strong economy.”
She also boasted that “wages have risen faster than inflation for ten months in a row. The unemployment rate has remained below four percent for the longest stretch in 50 years. Inflation has fallen by about two-thirds.”
However, this remains in contrast on the ground. The truth is, Americans haven’t seen the Bidenomics trickled into their pockets during his term.
According to a poll by CBS in December, at least 62 percent of Americans feel the condition of the US economy under Biden is “bad.”
Additionally, these respondents do not agree with how Biden has been handling the economy, and 70 percent slammed his control of inflation.
Furthermore, about 56 percent of Iowa caucus voters disapproved of Biden’s handling of the economy and 71 percent agreed that the economy is “bad.”
The inflation rate continues to rise amid election season. According to the consumer price index, the cost of essential goods rose to 3.4 percent at the end of 2023.
Jean-Pierre also attempted to dodge a media inquiry last Wednesday as Biden seemed to lose touch on the rising prices of goods in his visit to Allentown, Pennsylvania last week.
A Fox Business Reporter asked the press secretary, “Last Friday, the president was at a coffee shop in Pennsylvania, and he seemed to be surprised that the smoothie was $6 and how expensive it was.”
“I’m curious. So is the president now realizing the costs that Americans are bearing?”
Jean-Pierre continued to skirt the cost of the smoothie, accusing Republicans of not wanting to see Americans’ health care prices reduced and as a result, Republicans did not support the Inflation Reduction Act.
“But with the smoothie, why was he so shocked by the price?” Lawrence questioned Biden.
“He was joking around. He was certainly joking around with the press corps,” Jean-Pierre stated. “He offered to buy coffee. That’s what he did, and pastries. But I think the most important thing about that trip is that he was able to visit a small business.”
The majority of American households are under extreme financial strain due to high inflation, as they must now pay more for needs like food and rent. Food costs have increased by 33.7% since the beginning of 2021, while housing costs have increased by 18.7%, according to data made by FOX Business. The cost of energy has increased by 32.8%.
According to updated estimates from Moody’s Analytics, the average American family had to pay $211 more each month in December due to persistently high inflation to buy the same products and services as it did a year earlier. When compared to the same period two years ago, American monthly payments have increased by an average of $1,020.
The most recent data coincides with a rising sense of pessimism among American households regarding their financial circumstances under Biden.
According to a recent Bankrate survey, 50 percent of Americans believe their financial conditions worsened since the 2020 presidential election. Comparatively, only 21% of respondents say their financial status has become better, while 26% say it has stayed the same.
