At 1:25 Central Time this afternoon, Joe Biden was set to give what was advertised as a “major speech“ on Bidenomics, which we have been told passes for his economic agenda. At any rate a speech is expected, if Joe can be roused from his slumbers long enough to deliver it, and if the speech can be delivered intelligibly.
Let us hope we are able to hear him out, because in truth he has much to answer for. According to the most recent available statistics, inflation has surged to 3.7% year-on-year in August, and remains more than twice the rate that it was when Biden took office.
All told, inflation has gone up 17.4% during his term, so your saved dollars, if you managed to save anything at all, are worth 17.4% less today than they were on the day President Trump left office. If you have $10,000 in savings, Biden has cost you $1740 in purchasing power; if you have $100,000 or more in savings, you should have a few drinks before proceeding any further with this calculation.
But let the bad news not end there. In addition to the foregoing, under Joe Biden earnings are down. Real wages have slumped by 3.1% under Joe Biden, as inflation has outpaced wage increases for most of his presidency. Median household income has now fallen for two straight years- in fact, it remains below pre-pandemic levels!
And your monthly bills continue to mount because the damage caused by this morally flawed and economically inept president is far from over. Gas prices are still up by $1.46 per gallon since the day President Trump left office. While reducing our vital Strategic Petroleum Reserve to the point where the United States of America has exactly eighteen days worth of oil supply on hand, Biden has created so many obstacles to American oil production that our daily output of oil is now about two million barrels per day lower than it otherwise would be.
As I write these lines, nearly twenty million Americans are behind on their utility bills, credit card debt is at an all-time high, and interest rates are at their highest levels in twenty-two years. Half of our fellow citizens say that their financial situation is getting worse, and a substantial majority of us think the country is on the wrong track. But watch and see- Joe Biden is going to tell you just how great a president he has been!
But I must close this depressing essay before the mental health of my readers is further affected. I will say that by my lights you should be mad as Hell at Joe Biden and his woke administration for all of the foregoing, because the damage they caused was as preventable as it was foreseeable. Just remember to vent your anger and frustration on Election Day, November 5, 2024.
LOUIS GURVICH, Chairman
Republican Party of Louisiana