EJ ANTONI: Biden Loves Vacations. His Economic Policies Mean Most Americans Can’t Afford OneE.J. Antoni
Contributor
September 10, 2023 2:44 PM ET
The middle class is demonstrably worse off under President Joe Biden, but that hasn’t stopped him from spending 40 percent of his presidency on vacation. Many Americans would love such a lax job schedule, but they’re too busy working a second job to make ends meet. They cannot afford one day of vacation, let alone 382 like Mr. Biden.
On the few days Mr. Biden has actually been working, he has instituted policies that caused the middle class’s financial plight. Here are just a few examples.
Bidenomics is best defined by the government spending, borrowing, and printing too much money. That has caused inflation, which has eroded the value of people’s earnings. Real earnings (i.e., inflation-adjusted) have fallen about 5 percent under Mr. Biden.
The average American family’s weekly paycheck is about $230 bigger today, but it buys about $100 less compared to when Mr. Biden took office. That loss in value is a real tax. The average American worker is paying more on his or her hourly wages in the hidden tax of inflation than in federal income taxes. That means inflation has effectively doubled what the average American workers pays to the government.
From his beach chair, Mr. Biden has presided over a 17 percent decline in the dollar’s value. Additionally, he is helping to destroy the dollar’s reserve currency status by wielding the dollar like a weapon, even confiscating dollars rightfully owned by some foreigners. That has shattered confidence in the dollar’s apolitical nature and emboldened China to try and dethrone King Dollar in international trade.
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https://dailycaller.com/2023/09/10/ej-antoni-biden-loves-vacations-his-economic-policies-mean-most-americans-cant-afford-one/
