‘Bidenomics’: Poverty Rate Increases for First Time in 13 Years

Under Democrat President Joe Biden’s leadership, America has just suffered the first rise in the U.S. poverty rate in 13 years.

The news is just the latest failure of the president’s so-called “Bidenomics” policies.

Under “Bidenomics,” a staggering 12.4% of Americans lived in poverty in 2022, according to the U.S. Census Bureau.

The figure is a huge increase from 7.8% in 2021.

In fact, it was the first time the U.S. poverty rate had increased in 13 years.

That news comes as the Census also reported that the U.S. real median household income decreased by 2.3% to $74,580 in 2022.

Meanwhile, Fox Business reports that year-over-year inflation rose 7.8%.

The Biden administration has long claimed that his policies are working.

The Biden White House insists his spending plans have juiced the economy, despite the American people seeing otherwise.

Meanwhile, prices have increased more than 17% since he took office.

In August, inflation continued to tick upward.

In a statement given to Townhall.com, Job Creators Network President and CEO Alfredo Ortiz said:

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“This accelerating inflation, which is nearly twice the Federal Reserve’s target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years.”

Indeed, as explained recently by David Winston, the president of The Winston Group and a GOP adviser, just about everything is more expensive than it was on the day Biden took office.

Biden’s solution, Winston correctly points out,  has been “trying to dress up central planning as America First.”

The current president even tried to sell his economic agenda as “BABA”— Building a Better America.

As many have noted, BABA sounds similar to President Donald Trump’s MAGA — Make America Great Again.

However, as with most phony imitations, it has proven to be a inferior product that falls apart under the slightest bit of pressure.

BABA didn’t really click with the American people, so now he’s trying to sell his vision for the country as Bidenomics.

It’s been a great success for America, according to Biden and his allies.

Nevertheless, no matter how Biden and the Democrats try to pitch it, the American people are worse off today than they were four years ago.

READ MORE: Biden Moves to Block Trump’s Plan to ‘Fire’ the ‘Deep State’ and ‘Drain the Swamp’

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By Frank Bergman

Frank Bergman is a political/economic journalist living on the east coast. Aside from news reporting, Bergman also conducts interviews with researchers and material experts and investigates influential individuals and organizations in the sociopolitical world.

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