Twitter fact-checkers piled on POTUS Joe Biden on Monday after a dubious claim about the effectiveness of so-called ‘Bidenomics’; Joe says wages are up for the average American worker.
“Right now, real wages for the average American worker is higher than it was before the pandemic, with lower-wage workers seeing the largest gains. That’s Bidenomics,” the official POTUS account tweeted.
Not so fast, Joe.
“The tweet’s claim about real wages contains a factual error. On 3/15/20 when US COVID lockdowns began real wages adjusted for inflation (AFI) were $11.15. As of 7/16/23 real wages AFI are $11.05. Real wages AFI remain lower (not higher) than before the pandemic,” context added by fact-checkers says under the tweet.
Right now, real wages for the average American worker is higher than it was before the pandemic, with lower wage workers seeing the largest gains.
That's Bidenomics.
— President Biden (@POTUS) July 16, 2023
Several economists spoke with Fox News about the obvious failures of ‘Bidenomics.’
“Bidenomics has been defined by 40-year-high inflation, record drops in labor productivity, anemic economic growth, growing credit card debt, rising interest rates, insipid labor force participation, onerous regulation, falling real incomes, and runaway government spending, borrowing, and printing of money,” EJ Antoni, a research fellow for the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told Fox News Digital. “Distilled down to a single word, Bidenomics means ‘failure.’”
“They spend like drunken sailors — that is what’s causing problems,” Desmond Lachman, a senior fellow at the American Enterprise Institute, told Fox News Digital. “It’s easy to get unemployment down for a short period of time, but it’s difficult for a long period of time. The way they got it down so much is by overstimulating the economy, but now they have inflation.”
More over at Fox News:
Biden called out for 'factual error' in 'Bidenomics' tweet, after boasting about wage levels https://t.co/NkVEwcmMrj
— Fox News (@FoxNews) July 17, 2023