BOoM bUsT FROM TRUMP TO BIDENOMICS
H ave you noticed that Joe Biden isn’t using the term “Bidenom- ics” much anymore? It turns out most Americans are turned off by this term and for good reason. The policies are a flop, and working-class Americans, as well as retirees, know it and feel it when they struggle to pay the bills. What a reversal of fortune from when Trump was president during what I hope will be known as his first of TWO terms in office.
Here’s an example of the superior- ity of the Trump record. First, while Trump was president, the inflation rate averaged just a bit over 2 percent, and the month he left office, it had fallen to 1.6 percent one of the lowest rates in forty years. Then Biden comes into office with his $5 trillion spend and borrow and print money economic program, and in 18 months, the inflation rate zoomed all the way up to 9.1 percent. How do you screw up the economy that quickly? Was he trying to ruin the American
economy? Was he trying to emulate Jimmy Carter? Mercifully, the inflation rate has started to recede since the end of 2022, but the latest Bureau of Labor Statistics numbers indicate we are headed back to 4.5 percent or more. Overall consumer prices have risen roughly 20 percent since Biden took the White House. But the necessities continue to rise much faster than that as anyone who buys grocer- ies, goes to the gas pump, or pays monthly bills knows. continued on page 12
10 • AMAC Magazine
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