OPINION:
When President Biden took office 2½ years ago, he promised the country he would “Build Back Better.” His lofty plans were to revamp the economy and the nation. But as we have come to find out, Building Back Better was just code for building back broke. The president took an economy that was once strong and turned it into a train wreck. Welcome to “Bidenomics.”
Still, Mr. Biden had the audacity to stand in front of the American public and unveil what he calls Bidenomics, a name to highlight his alleged economic successes. While the president smiled and boasted about his “accomplishments,” the numbers told a different story. Under the leadership of Mr. Biden, inflation has increased by a whopping 16.6%, according to the Bureau of Labor Statistics.
Like you, I see that number and shake my head. We are just one year removed from Mr. Biden’s Inflation Reduction Act being signed into law. Despite accounts from the Congressional Budget Office warning lawmakers that this legislation would have little to no impact on inflation and actually spike up our nation’s debt, Democrats and the president rushed it through. What was chalked up to be a golden ticket by the president to reduce inflation has only created more problems across the board.
The burden of inflation has crept into every aspect of our daily lives. For instance, grocery bills have increased over 20% in the last two years. What used to be a routine trip to the store now adds a layer of stress that has forced Americans to make crucial decisions in every aisle about the food they need to feed their families. Your hard-earned money is bringing home less and less every week, and clearly, this is not transitory.
Making matters worse, our homes are inching closer to going cold and dark. Mr. Biden has taken a devastating stance against American energy from his first day in office, sending natural gas and electricity prices through the roof. Rather than investing in homegrown energy production, the president has cut off drilling on federal lands, eaten away at our Strategic Petroleum Reserve, shut down pipelines, slow-walked natural gas permits, and turned to countries like Venezuela and Saudi Arabia to fulfill our oil needs.
The president’s attacks on American energy have been a direct attack on your wallet. Natural gas prices have increased nearly 21%, the price of electricity is up 26%, and the cost of gasoline has gone up by 52% nationally since the president took office. These drastic price increases we are experiencing are not sustainable, and sooner than later, the American public will no longer be able to afford daily life. That’s the secret of Bidenomics that the president does not want anyone to know.
Let me make one thing clear: Despite what the president and other Democrats say, Bidenomics is a complete and utter failure. The American public has been stretched thin having to fund the president’s progressive agenda, all while his policies continue to exacerbate our nation’s economic problems.
President Biden has chosen to create a mirage of lies about the state of our economy, all while smiling as he totes how “great” Bidenomics is.
Here’s the truth: Americans cannot afford Bidenomics.
• Lisa McClain has represented Michigan’s 9th Congressional District since 2021 (known as the 10th Congressional District until 2023). A member of the Republican Party, she was elected to the state’s redrawn 9th District in 2022.
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