As the holidays approach, Americans are facing financial challenges due to the current state of the economy. President Joe Biden’s economic plan, known as Bidenomics, aimed to “restore the American Dream,” but has fallen short of this goal.
There are conflicting reports about the state of the economy on a macro level, with some speculating that a recession is imminent or already occurring. In October, economist Paul Krugman tweeted that inflation was over, based on a chart that excluded essential items such as food, energy, shelter, and used cars. This tweet was met with backlash, highlighting the disconnect between the economy’s performance and people’s everyday struggles.
According to Biden and some economists, the economy is doing well, but this perspective may not reflect reality for those who have to purchase or finance essential items. This raises questions about whether Biden’s economic plan is truly designed to help people achieve the American Dream, especially when basic necessities are becoming increasingly expensive.
In light of these challenges, it’s worth considering what would constitute a nightmare under Bidenomics as the cost of items like 6.25-pound package of chicken breasts continues to rise.
Overall, it seems clear that there is still much work to be done in order to ensure that all Americans have access to affordable basic necessities and can achieve their dreams under Bidenomics.