Tuesday, August 22, 2023

It Ain't 'Just Bidenomics', Pal

In a story intended to tell us all about the horrors of Bidenomics (there are plenty), the Federalist raises a far larger question:  how could the 'Trump Economy' have been so damn bad?

...The U.S. Census Bureau regularly conducts Household Pulse Surveys (HPS). Among other things, the Household Pulse Surveys ask respondents about spending and debt, loss of employment, anxiety, and the effects of natural disasters.

One of the most important questions included in the HPS asks Americans about their “difficulty paying for usual household expenses.” In a truly healthy, growing economy, fewer, not more, working Americans should say that they are having less trouble paying their “usual” bills. But the exact opposite has occurred.

In January 2021, the first month of Biden’s presidency, an estimated 80.53 million Americans found it “somewhat” or “very” difficult to pay their household expenses. According to the most recent HPS survey, conducted in July 2023, that number soared to 86.92 million, an increase of more than 6 million....

So there's been a <10% increase in expense-challenged households since Biden?  That's a 'so what?' statistic.

What was the problem BEFORE Biden, when unemployment was scraping bottom, fuel prices were extremely low, and loaned money was damn near free for the taking?

Is the study methodology horrible?  Or did they only interview hysterics?

Inquiring minds, and all that.

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