Biden Shredded Online Over Bidenomics Post: “All Americans Poorer”

( – President Joe Biden celebrated the first anniversary of the Inflation Reduction Act (IRA) on August 16 with a White House speech highlighting the legislation’s benefits. White House communications published a compendium of praises about the measure and its effects from Democrats nationwide. On August 22 and 23, Biden used the celebration to springboard into posting tweets touting Bidenomics, his economic policies resulting from the IRA. As a result, everyday Americans are lashing out online, shredding Bidenomics as an abject failure, with one poster tweeting, “Bidenomics has made all Americans poorer.”

On August 22, Biden posted on X, formerly Twitter, “We’re growing the economy from the middle out… lowering costs for… families, and making smart investments in America: that’s Bidenomics.” Paul A. Szypula, an animation artist and average American, was the poster who replied that the policy had made people like him poorer. He cited a statistic, saying prices on everything had increased an average of 17% above their January 2021 levels.

Another X user posted a tweet showing a graphic illustrating Szypula’s point. Bonnie S, who styles herself an old-school Liberal now called far-Right, posted that in addition to inflation, wages had dropped and mortgage rates had exploded.

X poster Joel, an engineer who described himself as an ex-Democrat, made another point. He posted a chart showing how the average residential electricity price had increased annually from 1975 to 2022. It rose from 13.15 cents/KWH in 2020 to 15.12 cents/KWH in 2022, almost a 15% jump. By contrast, Americans only saw a similar increase over the 10-year span from 2010 to 2020.

Biden posted on August 24, hyping Bidenomics again. He claimed an investment strategy in middle-class America would pay off with “stronger economic growth,” benefitting everybody. However, some X users took issue with how or whether the middle class was seeing investments or benefits.

X poster Steven Noyes noted, “Bidenomics has cut my pay by 26%.” Eddie retired from the Navy as a Lieutenant Commander after also serving a 4-year stint as a Marine in Desert Storm. While noting increased inflation and lending rates and decreased wages, he posted, pointing out that credit bureaus downgraded the US credit rating on August 1, increasing the interest rate the nation pays on its debt. He commented about how the interest growth would inflict cumulative damage on the country even if inflation drops to zero immediately.

Although the administration celebrated the IRA and other legislative wins, ordinary people made the point on social media that Democrats may get their comeuppance in the 2024 elections.

~Here’s to Our Liberty!

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