President Joe Biden recently took to a stage in North Carolina to tout his economic agenda, which includes bringing high-speed internet to rural America. But that’s hardly what Americans struggling with a cost-of-living crisis need to hear.
Millions of Americans have been terribly frustrated with the economy over the last three years, as witnessed by countless economic polls. While several aggregate numbers like gross domestic product and its largest component, consumer spending, may paint a rosy picture, millions of Americans are economically worse off than they were three years ago.
After annual inflation outpaced earnings growth for a record 26 consecutive months, real (inflation-adjusted) incomes are down about 4.5% compared to January 2021. Yet Biden claims “we’re doin’ pretty damn well economically.”
While Biden claims that real earnings have risen for…
