The Disastrous Effects of Bidenomics on American Households

By Michael Lodge - The Business Advisor - www.lodge-co.com:  Since taking office, President Joe Biden's economic policies, commonly referred to as "Bidenomics," have been a subject of intense debate. While democrat politicians argue that his approach aims to address income inequality and promote sustainable growth, Americans have expressed concerns over the negative consequences of his policies on the American people. In this article, we will focus on some key areas where Bidenomics has been criticized, including the depletion of oil reserves, excessive spending, rising inflation, and the impact on American households.

Depletion of Oil Reserves:  One of the major criticisms of Bidenomics is the impact it has had on the country's oil reserves. The Biden administration's push towards clean energy and its commitment to combating climate change has led to policies that restrict oil exploration and production. While transitioning to renewable energy sources is essential for a sustainable future, critics argue that the rapid shift has come at the cost of depleting oil reserves that could have provided a buffer during times of crisis. This depletion has raised concerns about energy security and may lead to increased reliance on imports, potentially impacting energy prices for American households.

Excessive Spending and Lack of Benefit:  Another significant concern surrounding Bidenomics is the immense level of government spending without commensurate benefits to the American people. The Biden administration has pursued expansive economic policies, including large-scale infrastructure plans and social programs. While these initiatives may have noble intentions, critics argue that the associated costs and potential tax burdens may outweigh the benefits. The increased spending threatens to saddle future generations with a heavy debt burden while leaving many Americans questioning the tangible impact on their daily lives.

Rising Inflation and Financial Strain:  Bidenomics has also been the main reason of rising inflation, which has a direct impact on American households. As the government pumps money into the economy through stimulus measures and increased spending, the purchasing power of the dollar diminishes. This leads to higher prices for goods and services, putting a strain on household budgets.  Food costs for households are being purchased with credit cards creating more credit card debt, wages have been short to pay these bills. Inflation erodes the value of savings, affects retirement plans, and increases the cost of borrowing, exacerbating personal credit card debt.  Debt on cars have created a risk to the banks as Americans are 90 days late in paying their car loans and are losing their cars to the repo man.  Credit to purchase cars has almost vanished as interest rates go up and some banks leaving the auto loan industry, it is harder to get credit to purchase a car and auto prices are out of control and inventory is not moving.  The resulting financial pressure leaves many Americans struggling to make ends meet and diminishes their quality of life.

While the full consequences of Bidenomics are still unfolding, it is clear that some aspects of the economic policies pursued by the Biden administration have raised concerns and caused hardships for American households. The depletion of oil reserves, excessive spending without clear benefits, and the impact of inflation on everyday Americans have all contributed to a sense of economic uncertainty. It is essential for policymakers to carefully consider the long-term implications of their decisions and strike a balance between addressing pressing challenges and safeguarding the financial well-being of American households. Only through thoughtful and well-informed economic policies can we hope to achieve sustainable prosperity for all.

Banks have two things that will hit them hard.  Auto loans and commercial real estate.  Buildings are now being repossessed by the banks.  With the increase in interest rates, owners that have loans are making the decision to just giving back the properties to the banks because loan payments are not supported by rental income, office buildings are empty.  The work from home has hurt the commercial renting market.  And with no one in downtown anymore, small businesses and major retail businesses are shutting down.  In major cities where crime has become out of control, many businesses have given up.

When we look at the economic numbers of America, we have to look at the entire picture.  It is not just the CPI, GDP or employment numbers.  The economy is not just wall street.  But there is a whole big world of economic data that all affect each other.  It's easy to report just the good numbers, that may not be so good because there are other factors that affect the American economy.

Bidenomics has and is a big failure to the nation.  That is why Americans do not support Bidenomics.  Bad economic policies, a corrupt political agenda, Americans just feel a totally different economy then what the President is bragging about.  Americans have had enough of Bidenomics.