Since President Biden took office, the rate of inflation has gone up to 18%, and this is making Americans unsettled. The ratings for him have dropped significantly, even among Democrats and it is concerning. Furthermore, it appears that Americans are blaming their President for the rising cost of living despite having “Bidenomics” in play.
The New York Post states, President Biden addresses ongoing high prices, urging companies to reduce costs amid an 18% consumer price surge during his tenure. He criticizes corporations for maintaining prices despite inflation drops, demanding an end to price gouging, emphasizing the need for further economic improvement.
However, congressman Randy Feenstra states that Bidenomics is a “complete failure.” He states that the American household has credit card debts that have reached $1 trillion. Furthermore, Feenstra adds that the national debt is expected to double within this year. His opinion is reflective of what X users are currently thinking.
X users claim that Bidenomics is failing
Then how are retailers supposed to make a profit and keep their doors open? They unfortunately need to raise prices to keep up with the inflation
This is a response to Joe Biden’s request for retailers to reduce their prices in order to combat inflation. However, social media users see this as a suggestion that isn’t valid as retailers need to maintain a profit in order to pay for their daily operations. If they were to reduce their prices, there is a chance in staff reduction.
Following that, there are several debates regarding this matter as X users are angry at how Bidenomics is costing the American families at least $10,000 a year. However, Democrat supporters state that the President inherited the country in a high amount of debt partially due to the pandemic. This is also reflective towards other countries.
Credit card debt just crossed the trillion-dollar mark for the first time ever.
Biden supporters state that the country has reached peak holiday shopping spending this year. Conservatives state that this year has also broken the record for credit card debts for the American people. Seemingly these debates are going back and forth between Republicans and Democrats.
These past six months I’ve noticed like a 40% increase in lots of prices. It hit fast!
Several tweets are depicting that consumers feel the prices are rising this holiday season. Surprisingly, this is reflected in all sectors, from the luxury segment down to the daily necessities. Regardless, on social media, many are still critiquing Bidenomics and are blaming the President for not trying hard enough to combat inflation.