You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.
Today’s report shows that we ended 2023 with inflation down nearly two-thirds from its peak and core inflation at its lowest level since May 2021. We saw prices go down over the course of the year for goods and services that are important for American households, like a gallon of gas, a gallon of milk, a dozen eggs, toys, appliances, car rentals, and airline fares. Despite what many forecasters predicted a year ago, inflation is down while growth and the job market have remained strong.
Of course, that's total bullshit, and Americans all know it--at least all the Americans who do their own grocery shopping. Week after week, I go to my local grocery store and am shocked at the price of nearly everything.
I know, however, that I am more fortunate than many of my fellow Americans. I'm retired, but I don't depend solely on Social Security to pay my bills. However, one out of seven retired Americans live almost totally on their monthly Social Security checks. And the average Social Security check is only about $1700.
Who can live on that? Nobody.
President Biden is about to demonstrate the truth of one of Abraham Lincoln's most famous observations. Biden fooled millions of people during the 2020 presidential campaign by hiding his cognitive decline and his family's influence-peddling racket. The obsequious mainstream media pitched a wild yarn about Bidenomics that has fooled some Americans to this day. Incredibly, almost a third of Americans believe Sleepy Joe is doing a good job managing the economy.
But Lincoln was right: you can't fool all the people all the time. Now, we are in the 2024 presidential primary season, and Biden is about to see that millions of Americans have figured out that they are losing ground economically. Retired people, people living on fixed incomes, and working-class families by the millions are going to vote for Donald Trump or Nikki Haley.