Liberal media are declaring Bidenomics a success – but, after more than three years, hard numbers tell a much different story, regardless of whether the measure is how much Americans are paying, earning or saving.
Gas prices:
While gas prices held steady under Pres. Donald Trump (down four cents a gallon), they’ve surged 46% in the first 38 months of Pres. Joe Biden’s term. From January 2021 to March of 2024, the average price of a gallon of gas (all grades) has increased from $2.42 to $3.54, according to the U.S. Energy Information Administration.
Real Wages:
After accounting for inflation, real wages earned by Americans have declined under Biden. In the first quarter of 2021, median weekly real earnings averaged $373. But, by the fourth quarter of 2023, average real earnings had fallen to $371.
Under Trump, however, real wages rose from $352 on January 1, 2017, to $373 on January 1. 2021.