It's No Secret, Americans Overwhelmingly Worse Off Under Joe Biden
"Are you better off than you were four years ago?"
— Ronald Reagan
That's the now iconic rhetorical question posed by then presidential candidate Ronald Reagan in his 1980 debate with then-President Jimmy Carter.
The voters answered with a resounding "No!" as they elected Ronald Reagan president by a huge margin of 489 electoral votes to 49.
Now, that Reagan question is a staple of presidential polls.
Fast forward 43 years: a record number of Americans — 44% — said in response to an ABC News/Washington Post Poll that was released this month that they are worse off financially today than before Biden was elected president.
Historically, that is the worst figure for any president since the poll began in 1986; and more than three times worse (44% versus 13%) than the result for President Trump.
Biden’s approval rating is equally dismal as it stands at a weak 37% in the same poll. In a hypothetical match up against Trump, Trump leads by 9 percentage points, 51% to 42%.
These dreadful Biden poll numbers are due in large part to the abject failure of Biden’s radical, progressive driven economic policies (aka "Bidenomics").
These policies have ignited inflation, stifled America’s energy production, invested government subsidies in so-called green energy companies that end in bankruptcy, and produced the highest mortgage rates in over 20 years.
The Bidenomics Debacle
Bidenomics has created severe economic turmoil for Americans. Families are struggling mightily.
Sixty-one percent (61%) of hard-working Americans are living paycheck-to-paycheck. Seventy-five (75)% of those earning less than $50,000, and 65% of those making $50,000 to $100,000 per year struggle to pay for gas and groceries, and to make ends meet due to the heavy weight of inflation.
In difficult straits, many families have resorted to credit cards to pay their bills, including necessities like groceries.
As a result, Americans’ overall credit debt has reached a record high of $1 trillion.
This represents a $300 billion increase since Biden was elected president.
All this mounting debt is creating a financial crisis for families and the country.
Delinquencies in payments and default rates on credit cards, auto loans and consumer loans are at their highest levels in a decade and are increasing at a rapid rate.
Not only are families in an intractable bind, but consumer-focused businesses such as car dealerships and department stores are dealing with significant losses and shortfalls in revenue due to these delinquencies and defaults.
And home ownership for so many Americans is a fading dream as interest rates that have risen above 7%, and families’ debt burden make a mortgage unaffordable and unattainable.
Americans’ discontent and struggles are reflected in the ABC News/Washington Post Poll where 74% of Americans described the economy as not good or poor.
Even worse, nine out of 10 Americans have the same negative assessment of rising gas and food prices.
Families are not fooled by Biden’s false economic rhetoric.
They see the truth every time they pull into a gas station or buy groceries.
American voters need to say "No!" to the radical, progressive policies of Bidenomics inflaming the current economic crisis, and "Yes!" to free enterprise, innovation, entrepreneurship, and the unleashing of American energy.
Michael Clancy is a lawyer, member of The Federalist Society and Heritage Foundation, and former congressional candidate. He provides incisive, analytical commentary on political and constitutional law issues; and is a frequent guest on political news programs. Mike is a graduate of The George Washington University Law School and Notre Dame. Twitter: @MikeClancyVA. Read More Mike Clancy — Here.