The cost of living in the United States has risen exponentially despite “good” job numbers from recent data. President Joe Biden has been touting a thing he refers to as “Bidenomics” in recent speeches. This is, apparently, his answer to “Reaganomics” which was praised and also criticized in the 80s. The key difference is that there is nothing to praise here. Biden has only introduced more inflation into the economy by printing and spending money.
There has been some positive job growth, but these jobs do not satisfy the current needs of the workforce. Many of these jobs are either low-paying or unable to be staffed for other reasons. An idea in the minds of some geniuses in non-governmental organizations is to simply raise the Federal minimum wage to make low-paying jobs more attractive and economical. The problem with that is the fact that Government intervention is what has created the current inflationary environment. More of the same will not fix the problem… it will only become worse.
SOURCES:
‘Real disconnect’ between cost of living and workers’ paychecks | Meet the Press Reports – YouTube
Jobs report: The US economy added 339,000 jobs last month, soaring past expectations — again | CNN Business
