Bidenomics

Crime and empty store shelves became the hallmark of the Biden era.

Bidenomics is the economic program of President Robert L. Peters, aka Joe Biden, and the planned de-industrialization of America, conversion to so-called "green energy," population reduction, destruction of the middle class, and enslavement of the American people to the globalist oligarchs of the World Economic Forum.

By causing inflation with massive government deficits and restrictions on affordable energy development, Biden has made home ownership impossible for most young couples with children. "Mortgage payments on a new home have risen 90% (1.8x, near doubling) under Biden's presidency."

After the Biden/Harris seizure of power, French president Emmanuel Macron announced at the Davos conference that capitalism is dead and the Great Reset is on. Biden puppetmaster, General Secretary of the genocidal CCP Xi Jinping, laid out the talking points and marching orders that he expects the Biden junta to fall in line behind.

Democrat governors devastated the U.S. economy with covid lockdown orders. More than 30 million Americans lost their jobs during the pandemic. The Democrat controlled House delayed a covid relief package until after the November 2020 election. Biden praised the passage of a pork-filled "coronavirus relief" bill in late December 2020 that provided a mere $600 stimulus checks for Americans yet allocated billions in border security for Jordan, Lebanon, Egypt, Tunisia, and Oman. The relief bill was minuscule compared to what was needed to benefit Americans. When asked "what is President Biden doing for my small business?", White House chief propagandist Jen Psaki responded with a straight face, "First and foremost, he nominated a woman to lead the Small Business Administration."

In Biden's first 100 days, unemployment and inflation went up.

According to the Center for Immigration Studies, illegal immigrants received $4.38 billion in stimulus checks.

In October 2022 the New York Post reported: "Since the start of this year, 401(k) plans have suffered $2.1 trillion in losses…The average 401(k) plan had over $135,000 at the start of this year. Today, those assets have shrunk on average to about $101,000…In other words, the average 401(k) plan is down about $34,000 — more than 25% in less than one year!...In terms of purchasing power, inflation also has brought the “real value,” in 2021 dollars, of the average 401(k) down another $5,000, from $101,000 to $96,000...More traditional pension funds also are getting flattened by inflation...At the beginning of this year, pensions in the US had $27.8 trillion in assets...Now, it's under $24 trillion, a drop of about 15% that has wiped out the last two years’ worth of gains — nearly $4 trillion”.

Two years into the regime, 44% of Americans were working two jobs, a 13% increase relative to the Trump administration. A survey found 69% of employed professionals either worked a side job or wanted one.

Inflation (BidiInflation)

Beginning in Biden's first 100 days, inflation began creeping up. A federal judge found Biden's farm debt relief program racist and unconstitutional.

Per October (1-19), 2021 poll, Biden support has dropped sharply among independent voters. The non-improvement, Gallup attributes to recent setbacks such as the infrastructure bill debate and issues such as inflation and worker shortages.

The spike in inflation was especially hard towards 2021 Thanksgiving day, most Americans affected, polled, blamed Biden. Biden called more inflation "a great asset" and a reporter questioning its impact on the 2022 midterm elections a "stupid son-of-b****."

Though Biden administration officials, in 2021, called high inflation “transitory.” But Biden on at least one occasion acknowledged the possible impact of generous social spending. By Feb 2022, Biden, reluctantly admitted: "Americans are being 'clobbered' by inflation."

Biden gas prices hit $10 per gal in California in June 2022 as the globalist's war on energy continued.

Per Feb 10, 2022 report, it showed, inflation soared to a 40-year high. When NBC's Lester Holt asked him, Biden first snapped arrogantly at him: "wise guy."

In March 2022, Biden blamed ‘Putin’s price hike’—no less—for February Inflation...

Indeed, on Mar 10, 2022, Fox News' journalist Doocy jabbed at Psaki: ‘Are you guys going to just start blaming Putin for everything until the midterms?’

In an ABC News/Ipsos poll, based on interviews conducted between March 11–12, 2022, 70% of Americans disapprove of Biden's handling of inflation. Though support ban on Russian oil.

On Apr 14, 2022, Biden had the audacity, with a straight face, conveniently, pinning it all on Ukraine war. Claiming:

"What people don't know is that 70% of the increase in inflation was the consequence of Putin's Price Hike." 

Fascist stooge and Democrat Uncle Tom Wally Adeyemo said shelves will remain empty until people are fully vaccinated.

In June 2022, Biden admitted:

We’re gonna live with this inflation for a while.

In June 2022, Biden blamed it all, conveniently, on Russia. "The reason why gas prices are up, is because of Russia—Russia, Russia, Russia. The reason why the food crisis exists, is because of Russia, Russia..."

In July/2022, Biden said the US is not in a recession, despite two consecutive quarters of shrinking economy. Though the WH did admitted -earlier- on the inflation reality by announcing a so-called Inflation Reduction Act.

Months later, in Sep 2022, the Dow Jones 20% fell from intraday record high of Jan thst year.

Biden partied over 'Inflation Reduction' just as inflation surged upward., in fact, Dems.' Signature legislation actually 'goosed' higher prices.

Under Bidenism, NYC hit record numbers in homelessness.

Some project that, "US recession may strike in September 2023 as Fed continues to fight Bidenflation."

In Jan 2023, noted economist Steve Moore blasted Congress for ramming through insane $1.7T Omnibus Spending Bill.

Campaigning for his 2024 bid, desperate to try to win his image, with the economy in trouble, he/his team came up with a pitch "Bidenomics".

Much in the MSM media who are more than happy to serve him, went into overdrive.

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With two-thirds of the country unhappy with how President Joe Biden is handling the economy, the White House will have to fight to sell Americans on "Bidenomics."

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In January 2024 the price of a Big Mac at a McDonald's restaurant in Darien, Connecticut was reported to have hit $18.

Budget

See also: Modern Monetary Theory, New spending, and Build Back Better

As of 2021, the top 1% pays 40% of all the income taxes. The top 1% earned 21% of the income but paid 40% of the income tax. The entire bottom half of taxpayers who earned 11.6% of the income paid a 2.9% of all income tax. Six in ten households received more in direct government benefits than they pay in federal taxes. Over 53 million low and middle income individuals pay no income taxes because of refundable tax credit, which are effectively a form of federal spending through the tax code.

Analysts predict that Biden's American Families Plan would add 21 million Americans to the welfare rolls. Families earning six figures would be eligible for generous handouts. Most of Biden's spending would benefit middle-income and upper-income households and not "poor kids".

The junta's first budget proposal projected economic growth at 1.9% or a return to the stagnant years of Obamanomics. Communist China is projected to grow at around 6% into the foreseeable future. By the end of the budget period, 10 years out, China's GDP would have grown by roughly 80% and then roughly equal the United States with a concomitant impact on national security and military spending. A deterrent defense posture is dead, and the United States is faced with either an arms race or surrender short of direct military confrontation.

Within every federal spending and appropriation bill there are carve-outs for various segments of the process for resettling illegal immigrants. The Department of Homeland Security (DHS) and Department of Health and Human Services (HHS) receive hundreds of billions in supplemental appropriation funding from within each federal spending package. Each of the COVID relief bills contained money to facilitate various elements of this process. Federal housing grants, food assistance programs, education funding, employment and income assistance, all of it, every single spending package, contains funding mechanisms to support the open border policy.

The junta proposed doubling the size of the IRS by adding 87,000 new employees through an $80 billion budget increase, while simultaneously illegally leaking tax information on some of the richest Americans in keeping with Anita Dunn's strategy to re-kindle Marxist class warfare.

Deficit and dishonesty

The national debt grew nearly 5 times faster than the economy in the 4th quarter of 2023 under Bidenomics.

In Dec 2022, Biden, also, lied to the American people that he supposedly cut national debt by $1.7T, ×hike actually he was increasing it $3.7T.

Biden wrongly claimed Tuesday that he lowered the national debt by $1.7 trillion — when in fact the debt grew by nearly $3.7 trillion during his first 23 months in office. Biden made the error while using the terms “deficit” and “debt” interchangeably during remarks touting the slight decline in the annual inflation rate to 7.1% in November. “We’ve done all of this while lowering the federal deficit in the two years we’ve been in office $1.7 trillion,” Biden said before incorrectly adding, “Let me say that again — $1.7 trillion we’ve lowered the federal debt.”

Showed in Feb 2023, how the Government's own numbers undermine Biden's boasts about deficit reduction.

Now it is the government's own numbers that show Joe Biden is misleading the American public when he boasts that he made a huge reduction in the nation's budget deficit.

Biden repeatedly has claimed he has reduced the budget deficit by a trillion dollars – more than anyone else ever.

In the 4th quarter of 2023 GDP grew by $182.6 billion while the national debt grew by $834 billion, or four and half times GDP growth.

Oil dependency

During the Democrat primary elections, Biden stated several times that he will end fracking. After winning the primary elections he pretended that he had never said that he will end fracking to his supporters in Pennsylvania, and he declined to comment further on ending fracking. The Washington Post admitted that Biden would lose what popularity he allegedly had in Pennsylvania because of his comments on fracking. Pump prices rose over a dollar from under President Trump a year earlier, with half of the increase occurring in Biden's first two months after signing executive orders shutting down U.S. energy independence and making the United States energy dependent on hostile foreign powers again.

Despite being urged otherwise over the heavy economic losses that would occur, Biden signed an executive order to revoke a permit for the Keystone XL, which led to killing 11 thousands jobs immediately, including 8,000 union jobs. Even far-left Canadian prime minister Justin Trudeau expressed disappointment. Crude oil prices immediately rose 24%.

Biden's artificially induced pump price increase instantly destroyed American jobs and profited Vladimir Putin, Saudi Arabia, and the Marxist regime of Venezuela.

Additionally on day one, the junta banned oil and gas leasing on federal lands, destroying the state of New Mexico's economy. During the covid lockdown, while the state government was busy destroying jobs and businesses and the state's share on income and sales taxes collected, New Mexico's oil gas severance tax contributed more than a full one-third of all state spending. New Mexico Democrat Gov. Michelle Lujan Grisham harshly criticized the junta's actions saying it "doesn't make any sense." Nearly one million high paying union jobs are expected to be lost across the nation by the junta's determination to make America energy dependent on America's enemies. Reuters reported:

"New Mexico—home to the country’s richest oil fields on federal lands—depends heavily on drilling revenues to finance its struggling public schools. And budgets have already taken a hit from falling crude prices as the coronavirus pandemic sapped global fuel demand. . . . The U.S. federal lands drilling program yielded some $1.8 billion directly to states in 2020, supporting schools and other programs in places like Wyoming and Utah, according to data from the U.S. Interior Department. School superintendents from Montana, Wyoming, North Dakota, Utah, and Alaska have written to Biden asking him to reverse the ban, calling it “imperative that we bring to light the arbitrary and inequitable move to shut down oil and gas production on federal lands in our states that depend on revenues from various taxes, royalties, disbursements, and lease payments to fund our schools, community infrastructure, and public services.”

Sinopec is a Chinese natural gas and mineral oil company and is the biggest company in China. Sinopec Marketing Company enjoyed nearly $1 billion in investment from Hunter Biden's private equity firm BHR Partners. Finalized in March 2015, the investments from the BHR Partners led to BHR amassing a nearly 30 percent stake in Sinopec. BHR Partner's LinkedIn profile highlights its Sinopec investment, revealing it was involved “in the pilot state-owned enterprise reform deal involving the segregation and capitalization of Sinopec Group’s non-oil business into Sinopec Marketing Corporation.” As of October 2021, Hunter Biden reportedly still owned a 10 percent stake in BHR Partners.

After the Biden regime destroyed America's energy independence with cancelation of the Keystone XL pipeline, by October 2021 when the global energy crisis hit, Sinopec reported record-breaking output figures. A company press release stated: "Fuling Shale Gas Field – the first commercially developed and operated large-scale shale gas field in China – announced on October 8 that it has produced 40 billion cubic meters of shale gas, setting a new record for the cumulative production of shale gas in the country."

Retail gas prices

On its first day, the Biden junta killed 70,000 high-wage middle class and union jobs by canceling the Keystone Pipeline, making America energy dependent on Vladimir Putin, Saudi Arabia, and the Venezuelan Marxist regime while making America's enemies richer. Biden signed an executive order to revoke a permit for the Keystone XL, which led to killing 11 thousands jobs immediately, including 8,000 union jobs. Even far-left Canadian prime minister Justin Trudeau expressed disappointment. Crude oil prices immediately rose 24%.

Sinopec is a Chinese natural gas and mineral oil company and is the biggest company in China. Sinopec Marketing Company enjoyed nearly $1 billion in investment from Hunter Biden's private equity firm BHR Partners. Finalized in March 2015, the investments from the BHR Partners led to BHR amassing a nearly 30 percent stake in Sinopec. BHR Partner's LinkedIn profile highlights its Sinopec investment, revealing it was involved “in the pilot state-owned enterprise reform deal involving the segregation and capitalization of Sinopec Group’s non-oil business into Sinopec Marketing Corporation.” As of October 2021, Hunter Biden reportedly still owned a 10 percent stake in BHR Partners.

After the Biden regime canceled the Keystone XL destroying America's energy independence, by October 2021 when the global energy crisis hit, Sinopec reported record-breaking output figures. A company press release stated: "Fuling Shale Gas Field – the first commercially developed and operated large-scale shale gas field in China – announced on October 8 that it has produced 40 billion cubic meters of shale gas, setting a new record for the cumulative production of shale gas in the country." In addition to killing off the domestic oil industry and enriching Russia and Saudi Arabia by doing so, Biden pledged to increase gas taxes by $90 billion.

After banning Russian oil due to Putin's operation to de-nazify Ukraine, Republicans and conservative pundits tried to push Biden to increase domestic oil production. Since March 2022, the Biden Junta has been releasing Oil from the Strategic Reserves to Europe. On June 2, 2022, the Biden Junta's Energy Secretary spoke about "clean energy goals" and gleefully asserted that gas will remain above $4 a gallon.

Many police agencies in local communities stopped answering 911 emergency calls for lack of gasoline to get to the site.

Energy crisis

Granholm laughed at the suffering of ordinary people caused by high gasoline prices and the Biden regime's policy to cut back U.S. oil production.

Energy Commisaar Jennifer Granholm's deception was on full display in a Bloomberg TV interview. After Biden had destroyed the United States as the world's leading oil producer, Granholm laughed when asked about the hardships created by the Biden regime on ordinary Americans with higher gasoline and home heating oil prices.

Host Tom Keene asked, “What is the Granholm plan to increase oil production in America?” Granholm burst out laughing and said, “That is hilarious. Would that I had the magic wand on this. As you know, of course, oil is a global market. It is controlled by a cartel. That cartel is called OPEC. And they made a decision yesterday that they were not going to increase beyond what they were already planning." The question of course, was about increasing production in America, not in OPEC countries.

Granholm was trotted out to the White House microphones to tell the White House Press Corps how brilliant, beneficial and strategically necessary it was to release 50 million barrels of oil from the Strategic Petroleum Reserve. Granholm read the script, gave her talking points and then took questions. One journalist asked: “that said, how many barrels of oil do U.S. consumers use every day?”... Granholm paused, looked down and said: “I don’t have that number in front of me, I’m sorry“.

Infrastructure

See also: Green New Deal and Reparations

The East Palestine, Ohio disaster became a metaphor for the train wreck that became the Biden presidency.

Biden's American Jobs Plan would spend roughly $2 trillion on so-called "infrastructure" projects and other boondoggles Biden proposed to pay for the spending by increasing taxes. “The largest federal tax increase since 1942,” is how the New York Times described the Biden plan. Biden claimed that the last five leaders of the Federal Reserve had declared that his American Jobs Plan proposal will increase economic growth. The only problem with Biden's remarks was only three of the last five leaders of the Fed are still alive.

The junta's infrastructure plan includes the building of clean energy infrastructure to reduce carbon emissions. The purpose is to shift the US from the use of fossil fuels and grow the amount of solar, wind and other renewable energy. Another of Biden's proposals is to spend $174 billion to boost the electric vehicle market and shift away from gas-powered cars. Wind turbines, solar panels and electric vehicles all rely on rare earth materials. Extracting rare earth materials is a highly polluting process. More than 60% of the world's solar panels are made in China. Forty-five percent of the global supply of solar-grade polysilicon, the base material used in solar cells, is made in China. Polysilicon is produced in Xinjiang, where China is accused of using forced labor in the production chains.

Only about 5% of the proposed $2.25 trillion plan goes for what traditionally is recognized as infrastructure; specifically, public construction projects, such as roads and bridges. The junta's plan includes the building of clean energy infrastructure to reduce carbon emissions. The purpose is to shift the US from the use of fossil fuels and grow the amount of solar, wind and other renewable energy. Another of Biden's proposals is to spend $174 billion to boost the electric vehicle market and shift away from gas-powered cars. Wind turbines, solar panels and electric vehicles all rely on rare earth materials. Extracting rare earth materials is a highly polluting process. More than 60% of the world's solar panels are made in China. Forty-five percent of the global supply of solar-grade polysilicon, the base material used in solar cells, is made in China. Polysilicon is produced in Xinjiang, where China is accused of using forced labor in the production chains.

Housing

See also: Debt slavery

Housing cost increases under Bidenomics.

Amid surging layoffs in the real estate market, slumping homebuilder sentiment, soaring rates and plunging mortgage applications, housing Starts crashed 14.4% month-over-month in May 2022 and Permits plunged 7.0% MoM.

Worker rights

Despite being urged otherwise over the heavy economic losses that would occur, Biden signed an executive order to revoke a permit for the Keystone XL, which led to killing 11 thousand jobs immediately, including 8,000 union jobs.

Ford Motor Company previously agreed with its workers, the United Auto Workers (UAW), to spend $900 million on a new electric vehicle product line for its Avon Lake, Ohio plant. The UAW had endorsed Joe Biden in the 2020 election. By March 2021, Ford announced it was shifting production to Mexico claiming "conditions had changed since 2019" when the agreement was made, according to Reuters. The junta refused to enforce provisions of the USMCA, which replaced the NAFTA trade deal.

The White House Council of Economic Advisers deleted its entire internship page after the Daily Caller News Foundation reported that the office offered exclusively unpaid positions despite calling for a higher federal minimum wage. Biden had said on January 22, 2021, “No one in America should work 40 hours a week making below the poverty line. Fifteen dollars gets people above the poverty line. We have so many millions of people working 40 hours a week — working — and some with two jobs, and they’re still below the poverty line.”

Child care

The junta proposed spending $225 billion on subsidized daycare over the next decade as part of its nearly $2 trillion American Families Plan. This is on top of the proposed $200 billion the administration hopes to spend to create a universal government preschool program for 3- and 4-year-olds. The plan is presented as a way to get mothers back in the labor force by subsidizing child care expenses. A study on the long-term impact of universal child care subsidies found that "the negative effects on noncognitive outcomes persisted to school ages, and also that cohorts with increased child care access had worse health, lower life satisfaction, and higher crime rates later in life.” Boys were particularly harmed by the child care subsidy program: “Increases in aggression and hyperactivity are concentrated in boys, as is the rise in the crime rates.”

Two-parent households with two preschool-age children and incomes up to $130,000 would qualify for federal cash assistance for daycare. Single parents with two preschoolers and incomes up to $113,000 would qualify. And some families with incomes over $200,000 would be eligible for health-insurance subsidies.

The Economist noted that “Joe Biden wants to Europeanise the American welfare state” by installing child care subsidies, universal government preschool, “free” community college, and related programs. When the UK implemented subsidized child care and preschool programs, it led to private providers going out of business, along with higher costs and less customer satisfaction.

Steep government regulation of child care programs limits the supply of daycare providers by raising costs and barriers to entry. Occupational licensing and expanded degree requirements for daycare workers create higher costs. Between 2005 and 2017, the number of small, in-home family child care centers dropped by 48 percent, with providers citing increased regulations as a reason. Coronavirus lockdowns only made matters worse. Many small daycare providers shut down entirely, contributing to supply shortages and rising costs.

The junta budget proposal is basically an effort to begin teaching critical race theory to 3- and 4-year-olds. Critical race theory is pseudoscientific dogma that teaches "whiteness is a malignant, parasitic like condition" that is "voracious, insatiable, and perverse - with no permanent cure."

Climate change

Climate Czar John Kerry went to China to discuss climate change and received the cold shoulder. The Taliban was more welcome. Kerry was given only a video conference with senior leaders, which could have been done from home in the United States.

At an Earth Day virtual summit on April 22, 2021, Biden pledged to cut U.S. emissions by half by 2030, the European Union agreed to go carbon neutral by 2050, and the People's Republic of China pledged only to reduce coal consumption - starting in 2026. The junta also waived sanctions on the Russian Nord Stream II pipeline, enriching Vladimir Putin and in direct contradiction to Biden's claim that the “climate crisis” is a major factor in foreign policy decisions. The pipeline from Russia to Germany undercuts Germany's efforts to meet Paris Climate Agreement targets. The Paris Agreement, which Biden rejoined in one of his first actions, also benefits Russia, which simply ignores carbon emission goals.

Junta Executive Order on Climate-Related Financial Risk contained all the far-left Green New Deal climate change features to destroy fossil fuels, capitalism, jobs and the economy in the name of global warming. The order allowed the government to do virtually anything in any part of the economy or the financial markets, or labor markets, or agriculture — or anything — in the name of mitigating risk of climate change. The diktat claims that “intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies — such as increased extreme weather risk leading to supply chain disruptions.” The junta claimed the power to regulate everything, to include signing a loan for a new home, how savings and retirement funds are managed, and to “reduce the risk of climate change to the federal budget.” Massive and unprecedented central power would come from the District of Columbia and be exercised by upper- and middle-level bureaucrats.

Biden plans to cut carbon emissions 50% by 2030 by driving farmers out of business and creating food shortages.

Desperation / campaign tricks

By June 2023, seeing the drastically low approvals, Biden's advisors pitched a so-called "Bidenomics." While in fact it was: a record of failure. Some at MSM volunteered to propagate for him too.

Survey

A Dec 2023 Fox News poll: 'Only 14% say they have been helped by Biden’s economic policies.'

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78% of voters say the economy is in bad shape, worse by 9 points since Biden took office.

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A Feb 4 2024 published NBC Poll showed Trump ahead of Biden with 20 points on handling economy.

Or as it was put: "Bidenomics' falls flat with voters as Trump takes huge lead in new poll."

In March 2024: 'Bidenomics in crisis: younger Americans think Tmthe Biden economy stinks.'

Bidenomics.com

In March 2024, a major conservative group unveiled Bidenomics.com to target president's economic policies. Americans for Prosperity launched 8-figure campaign.

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AFP argues that their website "will serve as a real-time resource for the truth on Bidenomics, up to date information about the economy, and fact checks of Biden’s latest misleading rhetoric on the economy."

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IMF

In Apr 2024, the IMF slammed Biden spending as US debt balloons past $34 trillion: ‘Something will have to give.’

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The International Monetary Fund sounded the alarm on the Biden administration’s rampant spending as “out of line with what is needed for long-term fiscal stability.

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Gaslighting

On Feb 25 2024 broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” White House Council of Economic Advisers Chair stated that the White House is okay with the latest GDP report, “especially once you get under the hood, you take out some of those more volatile components, consumer spending and investment look great.” And “the underlying economy is solid as ever.”

Fast food as a 'luxury'

May 2024 analysis: "Bidenflation Turned Fast Food into ‘Luxury’ for 78% of Americans."

See also

• Stagflation
• Misery index
• Globohomo

External links

• Bidenomics: A Path to National Shrinkage, City Journal, Jan 15, 2024
• How Bidenomics Shattered The American Dream Of Homeownership, The Federalist, 2024
• Failure of “Bidenomics” Is Rankling Americans, Heritage Center, November 30, 2023
• This Part of Bidenomics Needs More Economics, Wall Street Journal, July 12, 2023
• Bidenomics and Its Contradictions, Wall Street Journal, June 8, 2023