Analysis finds Americans need extra $11,400 to afford the basics as GOP lawmakers blame Bidenomics

[Vambram]

Analysis finds Americans need extra $11,400 to afford the basics as GOP lawmakers blame 'Bidenomics'

GOP lawmakers and more blamed "Bidenomics" while reacting to an analysis that found the typical American household would need an "extra $11,434" to afford the basics.

www.foxnews.com

Republican lawmakers and more called out President Biden and his administration on Wednesday while reacting to a new report that found Americans need an extra $11,400 just to afford the basics, pointing to the president's economic policies and his "Bidenomics" message.

Several Republican lawmakers posted to social media on Wednesday, blaming Biden's economic policies following a report from CBS News, citing a recent analysis by Republican members of the U.S. Senate Joint Economic Committee, which found that a typical American household would need an "extra $11,434 to maintain the same standard of living they enjoyed in January of 2021."

The analysis found that it might be worse on a state-by-state basis. For example, in Colorado, the average American household must spend an extra $15,000 per year to afford the same standard of living they had in 2021.

CBS reported that the numbers reflect the increased cost of basic goods, despite other positive economic measures, such as the jobless rate being at a two-decade low.

Rep. Eli Crane, R-Ariz., said "Bidenomics" was a "huge tax" on Americans and added that the "D.C. Swamp is ruining this country for future generations."
Colorado Republican Rep. Ken Buck sounded the alarm about the numbers from his state, noting that it was "even higher."
Rep. Brett Guthrie, R-KY., in a post on social media on Wednesday, said Americans deserved better, adding, "this is the real Bidenomics in action."
Americans are spending an additional $11,400 and Kentuckians are spending an additional $9,784 every year to keep up with the same standard of living they enjoyed before Joe Biden took office. This is the real Bidenomics in action. You deserve better.

 

[RocksInMyHead]

What Biden policies have led to these increases in costs? Please show your work.

 

[Vambram]

What Biden policies have led to these increases in costs? Please show your work.

Read the article.

 

[RocksInMyHead]

Read the article.

The article just makes the categorical statement that this is Biden's fault. The only specific policies mentioned are those just announced, which cannot have had an effect yet, since they have not yet been implemented, and there's no discussion of how "Bidenomics" has increased the prices of basic goods, just assertions that it is responsible.

If it's so obvious, you should be able to point to specific changes that have been implemented since January of 2021 and find economic analysis on how those changes have negatively affected the economy.

 

[Vambram]

The article just makes the categorical statement that this is Biden's fault. The only specific policies mentioned are those just announced, which cannot have had an effect yet, since they have not yet been implemented, and there's no discussion of how "Bidenomics" has increased the prices of basic goods, just assertions that it is responsible.

If it's so obvious, you should be able to point to specific changes that have been implemented since January of 2021 and find economic analysis on how those changes have negatively affected the economy.

Practically every "change" or economic policy from the Biden Administration has had a negative effect on the national economy.

However, perhaps the people who don't have a problem with all of the escalating inflationary prices and costs of living are unable to recognize and/or agree that the cost of living is far too high for most Americans.

 

[Desk trauma]

I am told eliminating avocado toast fixes such issues.

 

[RocksInMyHead]

Practically every "change" or economic policy from the Biden Administration has had a negative effect on the national economy.

That's an easy assertion to make. Now, specifics. What changes has the Biden administration made and how have each of those changes manifested in a negative manner?

 

[Fantine]

Golly gee, it's a challenge being middle class!
But those Republicans never give the tax cuts to the people who need them.
SMH.

 

[Vambram]

Golly gee, it's a challenge being middle class!
But those Republicans never give the tax cuts to the people who need them.
SMH.

In 2017, everyone got significant tax cuts. As someone in the middle class, my wife and I really appreciated those tax cuts.

 

[JustOneWay]

However, perhaps the people who don't have a problem with all of the escalating inflationary prices and costs of living are unable to recognize and/or agree that the cost of living is far too high for most Americans.

The misinformation posted is no longer working.

US inflation hits its lowest point since early 2021 as prices ease for gas, groceries and used cars​

US inflation hits its lowest point since early 2021 as prices ease for gas, groceries and used cars

The inflation figure the government reported was down sharply from a 4% annual rate in May, though still above the Fed’s 2% target rate.

apnews.com

 

[Vambram]

That's an easy assertion to make. Now, specifics. What changes has the Biden administration made and how have each of those changes manifested in a negative manner?

How do you explain the escalating costs of living? Are you happy with the rising costs of living?

 

[JustOneWay]

In 2017, everyone got significant tax cuts. As someone in the middle class, my wife and I really appreciated those tax cuts.

The tax cuts were designed to expire for individuals, but corporations are permanent. Did you not know this?

Explaining the Trump Tax Reform Plan

President Trump created a sweeping tax overhaul, which rewards the wealthy and corporations the most, has fizzled among voters.

www.investopedia.com

 

[Vambram]

The misinformation posted is no longer working.

US inflation hits its lowest point since early 2021 as prices ease for gas, groceries and used cars​

US inflation hits its lowest point since early 2021 as prices ease for gas, groceries and used cars

The inflation figure the government reported was down sharply from a 4% annual rate in May, though still above the Fed’s 2% target rate.

apnews.com

Add this year's inflation to that of the last couple of years and then try to tell me that you are very happy with the rising costs of living.

 

[JustOneWay]

How do you explain the escalating costs of living? Are you happy with the rising costs of living?

The pandemic. Everybody knows this, except perhaps you.

 

[Vambram]

The tax cuts were designed to expire for individuals, but corporations are permanent. Did you not know this?

Explaining the Trump Tax Reform Plan

President Trump created a sweeping tax overhaul, which rewards the wealthy and corporations the most, has fizzled among voters.

www.investopedia.com

But the tax cuts for individuals has not expired.

 

[Vambram]

The pandemic. Everybody knows this, except perhaps you.

So bad policy has nothing to do with it?

 

[JustOneWay]

Add this year's inflation to that of the last couple of years and then try to tell me that you are very happy with the rising costs of living.

You should blame Trump for all the cash he gave away during the pandemic, but I doubt you will.

 

[JustOneWay]

So bad policy has nothing to do with it?

What bad policy. If you want to make an honest argument, go for it. Point out a bad policy and prove it caused the problems you describe.

 

[Fantine]

The U.S. is handling a global problem more successfully than other countries.
Thanks to competent leadership, and good decisions of the Fed.
No one can guarantee smooth sailing, and no one should blame a leader for handling problems well. That's all (s)he can do.
I remember during the Trump administration the Fed was asked to keep interest rates at zero...and why? To help him win.
Instead of dealing with an incipient problem, he put himself before the country.
Contemptible.

 

[JustOneWay]

But the tax cuts for individuals has not expired.

Read the article.....

2025 it expires Don't blame Biden - blame Trump because that is how the law was written by republicans. You and your wife may no longer be happy.