"Bidenomics," the economic policies of Joe Biden that have brought America inflation as high as 9.1% year-to-year and unemployment that is back on the rise even though many of those many millions of jobs suspended during COVID have returned, is being skewered by Alfredo Ortiz, president and CEO of Job Creators Network and co-host of…
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(Photo by Joe Kovacs)
"Bidenomics," the economic policies of Joe Biden that have brought America inflation as high as 9.1% year-to-year and unemployment that is back on the rise even though many of those many millions of jobs suspended during COVID have returned, is being skewered by Alfredo Ortiz, president and CEO of Job Creators Network and co-host of the Main Street Matters podcast.
In a column at the Daily Caller News Foundation, he charges it is "the worst branding fail since the New Coke debacle of 1985."
Citing this week's September jobs report, which found unemployment remained unchanged at 3.8%, he said that documents "over Biden’s term, real wages have significantly fallen, worsening living standards and making us poorer."
Biden has overseen inflation of 17.4% since he took office, he noted.
"Mortgage rates are nearing 8%, and small businesses are paying double-digit interest on new loans — if they can get credit at all. These costs, which will only increase in the months ahead as the Federal Reserve is forced to continue hiking rates, erode small business profit margins and household budgets."
The result of Biden's actions mean, he said, "Americans face a cost-of-living crisis and a credit crunch. According to JCN’s most recent national SBIQ poll, half of small business owners say inflation is a top concern, and two-thirds are concerned about accessing credit due to rising rates."
And he cited the Denver Post's recent conclusion that, "Finding a way to pay the monthly bills is forcing small-business owners to consider all options: from cutting back staff and hours of operation, to changing a business’ focus and raising prices, to moving into a smaller space, and even to making the difficult decision of closing up shop."
So it's obvious, he said, why "only 28% of Americans are satisfied with the economy."
"Yet Biden and his wealthy allies continue to tell Americans to believe their Bidenomics spin and not their own eyes," Ortiz wrote.
In fact, Biden recently said, "For the first time in a long time, we’ve climbed out of our great economic crisis. It’s beginning to work for working people."
But even some Democrats are beginning turning against Bidenomics, Ortiz pointed out, quoting Politico's report that, "Several top Biden allies have privately raised concerns about the phrase to the White House."
Ortiz wrote, "Coca-Cola almost destroyed its brand by changing its formula and branding to New Coke to try to capture the Gen X market. Customers hated it. Coke quickly reversed course and reverted to Coca-Cola Classic in only 77 days. If only the public sector reacted that quickly to failure. Americans will have to wait at least another year to vote Bidenomics out on Election Day, setting the stage to return to the shared economic prosperity of 2017 to 2019."
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