During his "My Take," Thursday, "Varney & Co." host Stuart Varney shredded Biden's economic agenda, arguing Federal Reserve money printing and massive spending, which is "Bidenomics," led to record inflation - and that every income group in America losing ground.
STUART VARNEY: The U.S. Census Bureau just took down "Bidenomics."
Economists may rant and politicians may spin, but the hard numbers don't lie.
"Bidenomics" is making us poorer.
Inflation is the cause and inflation is the result of money printing by the Federal Reserve, and, yes the massive spending, which is "Bidenomics."
Not to mention the ending of our energy independence.
In 2022, the inflation-adjusted income for men dropped $3,620, it dropped $2,880 for women.
Every income group lost ground. The poor lost more than the wealthy. That's always the case when inflation hits.
Middle America, and here let's single out the upwardly mobile strivers making $94,000 to $153,000.
That group lost $4,600 in 2022.
If elections are fought and lost on the economy, the Biden-Harris ticket is not looking good, especially when Republicans will endlessly bring up Trump's stellar economy.
So now what? "Bidenomics" part two. The Green New Deal. More spending. Gigantic deficits.
Massive subsidies and possibly a rebound for inflation.
It's not a pretty picture, but then again, Bidenomics never was.