As the holidays approach, many Americans are struggling to make ends meet due to the current state of the economy. President Joe Biden’s economic plan, known as Bidenomics, was intended to restore the American Dream, but it has fallen short of that goal.
Economists have conflicting opinions about the state of the economy on a macro level. Some predict a recession is imminent or already occurring, while others say it is too early to call. In October, economist Paul Krugman tweeted that inflation had ended based on a chart that excluded essential items such as food, energy, shelter and used cars. This tweet was met with backlash from those who pointed out the disconnect between the economy’s overall performance and people’s everyday struggles.
Despite this disconnect, some argue that the economy is doing well under Bidenomics. However, for those who have to purchase or finance essential items like a 6.25 pound package of chicken breasts, this may not be true. This raises questions about whether Biden’s economic plan is truly designed to help people achieve the American Dream when basic necessities become increasingly expensive.
In light of these challenges, it’s important to consider what would constitute a nightmare under Bidenomics as we navigate through this holiday season.