Bidenomics in Freefall: Americans Struggle to Pay Bills as Economy Tanks Under Biden-Harris Administration

It’s no secret that the Biden-Harris administration’s economic policies have left many Americans struggling to make ends meet, but a recent survey has revealed just how bad things have gotten. Nearly 40% of Americans are now worried about being able to pay all of their bills on time—an even higher percentage than during the Great Recession of 2008-09.

According to a CNN poll, 39% of Americans are concerned about paying their bills consistently, a 33% jump from the peak of Biden-flation. This figure even surpasses the 37% who were worried during the 2008 crisis when unemployment was nearly 10%. Under the Biden-Harris administration, inflation has skyrocketed, and while it has slightly eased recently, it’s still crushing American families with the rising costs of essentials like food, gasoline, housing, and utilities. As CNN reported, “consumers are still trying to catch up to the price spikes of the last few years.”

But “catching up” is putting it lightly. According to The Daily Signal, the gap between nominal wages and inflation-adjusted wages since 2021 is over 20%. Sure, it might look like you’re earning more on paper, but in reality, workers have lost thousands in income due to inflation. And if you consider the real-world prices—from housing to groceries—the situation is even worse.

Here’s the cold, hard truth: Official inflation since COVID-19 is reported at 21%, but the cost of fast food—often a more accurate measure of true inflation—has more than doubled. Housing costs have also shot up, with both house prices and mortgage rates soaring. If these real-world numbers are closer to the true inflation rate, then American workers have potentially lost thousands of dollars each month.

As if things couldn’t get worse, the CNN poll found that over one-third of Americans have had to take on additional part-time work just to stay afloat. This includes 44% of Black individuals, 52% of Latinos, and nearly half of workers under age 45. No wonder the number of employed Americans has plunged by 600,000 in the past eight months, despite what the job numbers on paper might suggest.

It doesn’t end there. The poll also revealed that over two-thirds of Americans are cutting back on grocery spending, almost half are driving less to save on gas, and 4 in 10 are resorting to credit cards to cover essential expenses like food and fuel. Meanwhile, the Labor Department’s latest data showed that employers only added 114,000 jobs in July, falling far short of the 175,000 expected. To top it off, the unemployment rate rose unexpectedly to 4.3%, marking the highest level since October 2021.

The economy is now one of the top concerns for most Americans as we head into the election season. Vice President Kamala Harris, the new face of the Democratic Party, has been touting “Bidenomics,” but the reality on the ground paints a different picture. Under the Biden-Harris administration, Americans have endured some of the highest inflation rates in decades, and people are feeling the pain.

In stark contrast, a May poll from Financial Times-Michigan Ross showed that former President Donald Trump is leading President Biden by 8 points when it comes to trust in handling the economy. And since then, more Americans have shown they trust Trump over Harris to be a better steward of the economy. The numbers don’t lie—only 28% of voters believe Biden has helped the economy, with a staggering 58% disapproval rating.

As we move closer to November, it’s clear that the economy will be front and center. Americans are struggling, and they’re looking for leadership that can turn things around. With Trump gaining ground in the polls, it’s becoming increasingly clear that many believe he’s the one who can get the job done. The stakes couldn’t be higher, and the choice couldn’t be clearer.