'Bidenomics' Gets Huge Reality Check As President Called Out Over False Claims

'Bidenomics' Gets Huge Reality Check As President Called Out Over False Claims


President Joe Biden — or whoever runs his Twitter account — was called out again for a “factual” error on Monday regarding a tweet about his economic record, also known colloquially as “Bidenomics.”

Biden claimed that his economic policies benefitted ordinary wage earners over the past couple of years, which Twitter fact-checkers noted “contains a factual error.”

“Right now, real wages for the average American worker is higher than it was before the pandemic, with lower wage workers seeing the largest gains,” said the tweet. “That’s Bidenomics.”

Twitter’s Community Notes added context for readers that said: “The tweet’s claim about real wages contains a factual error.”

“On 3/15/20 when US COVID lockdowns began real wages adjusted for inflation (AFI) were $11.15. As of 7/16/23 real wages AFI are $11.05,” the Twitter note added. It added: “Real wages AFI remain lower (not higher) than before the pandemic.”

The Republican Party noted in its response, “Since Biden took office, real wages are down 3%.”

Other users noted that under Biden, inflation climbed to near-historic highs and while it has come down somewhat, it remains higher than normal.

In June, the president said under his administration he has slashed the deficit by $1.7 trillion, which the Washington Post rated “highly misleading.” That claim was also pooh-poohed by other fact-checkers.

Biden also tried taking credit for the new 988 suicide hotline, but it was actually signed into law by then-President Donald Trump. Previously said healthcare was “a right not a privilege in this country,” prompting Twitter’s Community Notes to say that Biden has “never publicly supported universal healthcare or Medicare for All, and has suggested he would veto bills that implement such a system.”

Several economists who spoke to Fox News blamed Biden’s economic policies and the Democrats’ spending for inflation.

“Bidenomics has been defined by 40-year-high inflation, record drops in labor productivity, anemic economic growth, growing credit card debt, rising interest rates, insipid labor force participation, onerous regulation, falling real incomes, and runaway government spending, borrowing, and printing of money,” EJ Antoni, a research fellow for the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the outlet. “Distilled down to a single word, Bidenomics means ‘failure.’”

“They spend like drunken sailors — that is what’s causing problems,” added Desmond Lachman, a senior fellow at the American Enterprise Institute. “It’s easy to get unemployment down for a short period of time, but it’s difficult for a long period of time. The way they got it down so much is by overstimulating the economy, but now they have inflation.”

In May, a Fox News poll found that nine of 10 respondents said they remain concerned about the impact inflation is having on their personal finances.


Poll

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