President Biden issued a statement a few days ago assuring us that the economy is robust and we're all getting richer. Here is what he said:
Inflation is down
two-thirds from its peak, and annual core inflation is the lowest since May
2021. Wages are rising faster than prices over the last year and since the
pandemic. Prices for key household purchases like gas, milk, eggs, and
appliances are lower than a year ago. Inflation is down, while unemployment has
remained below 4% for the longest stretch in more than 50 years.
In short, Americans have become
wealthier since Joe Biden took office. Unfortunately, many Americans are so
fuckin’ dumb that they don't realize how prosperous they are.
New York Times columnist Paul Krugman, chief spear
carrier for the progressive left, asked why Americans are so down on the economy. Why are they ignoring "fancy statistics" showing that "America
is doing pretty well"?
Krugman thinks many Americans have been
duped by "the false narrative that the economy is doing badly."
I hate to break it to you, Paul, but
that's bullshit. You may not know this, but millions of Americans living
on fixed incomes in flyover country do their own grocery shopping. I'm one of
those people. Every time I go to the grocery store, I am shocked by the price
of food and paper goods.
Property and auto insurance costs have also spiraled upward, rising 26% over last year. Homeowner's insurance costs have risen, too—by 11%.
Krugman urges Democrats to argue that Biden inherited a damaged economy "and led us through the aftermath to a much better place."
I think that's bad advice. If the
Democrats want to win this year's presidential election, they need to fall back
on the political tactics that have worked so well in the past: race-baiting, ballot harvesting, and frivolous litigation.
Paul Krugman: Slinging Joe Biden's bullshit
Photo credit: Leigh Advisory
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