Boasting Biden CALLED OUT – They Aren’t Buying It!

(ConservativeSense.com) – President Biden repeated his claim that the American economy is improving and inflation is dropping, while Americans struggle to make ends meet and the cost of living rises monthly. During a speech in Milwaukee on August 15, Biden said, “In case you haven’t noticed, inflation is down, too—and it’s going lower.” The President acknowledged the audience’s disbelief when he addressed a voter, saying, “You’re looking at me a little skeptical, but I promise you, check it out.”

The venue was littered with placards featuring the word “Bidenomics,” signaling that the Biden campaign intends to focus on the economy for its 2024 White House bid.

Only days before Biden’s speech, the chief economist at Moody’s Analytics said Americans were paying more than $700 extra every month on everyday goods and services. “Due to the high inflation, the typical household spent $202 more in July than they did a year ago to buy the same goods and services. And they spent $709 more than they did two years ago,” Mark Zandi said on Twitter.

Zandi did offer some reassurances, though, and predicted that the cost of housing, electricity, and cars would decrease soon.

In response to the President’s speech, Republican House Speaker Kevin McCarthy acknowledged the $700 jump in outgoings for American households and said “Bidenomics” is a “total failure.” On his website, the speaker noted that the price of gasoline rose 40 cents in a month to $3.74 a gallon, and mortgage repayments are 92% higher than one year ago.

Meanwhile, Biden’s Inflation Reduction Act (IRA) comes under scrutiny as analysts at the University of Pennsylvania predict that the legislation will cost the American taxpayer $1 trillion. Researchers at the Wharton School of Business said the IRA contains a “range of climate and energy provisions” that will cost $1,045 billion over the next decade. Much of the cost will be incurred through the “electrification of everything,” including switching to electric cars, which is expected to cost around $393 billion.