<p>It&#8217;s time for your daily dose of Bidenomics — where the rules are made up and the points don&#8217;t matter.</p>
<p>In today&#8217;s lesson, we&#8217;ll learn how the U.S. poverty rate increasing for the first time in more than a decade is actually a sign of a booming economy or something.</p>
<p>According to the U.S. Census Bureau, a whopping 12.4% of Americans lived in poverty in 2022. That&#8217;s up from 7.8% in 2021. In fact, it was the first increase in the U.S. poverty rate in 13 years.</p>
<p>That news comes as the Census also reported that the U.S. real median household income decreased by 2.3% to $74,580 in 2022. Meanwhile, year-over-year inflation rose 7.8%, <a href="https://www.foxbusiness.com/economy/us-household-income-fell-2022-census-data-shows" target="_blank" rel="noopener">per</a> Fox Business.</p>
<p>The Biden administration has long claimed that his policies are working and that his spending plans have juiced the American economy. Meanwhile, prices have increased <a href="https://x.com/TimMeadsUSA/status/1704138531386323270?s=20" target="_blank" rel="noopener">more than 17%</a> he took office.</p>
<p>In August, inflation continued to tick upward.</p>
<p>In a statement given to Townhall.com, <span data-preserver-spaces="true">Job Creators Network President and CEO Alfredo Ortiz said,</span><span data-preserver-spaces="true"> &#8220;This accelerating inflation, which is nearly twice the Federal Reserve&#8217;s target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years.&#8221;</span></p>
<p>Indeed, as <a href="https://rollcall.com/2023/08/02/voters-just-arent-buying-bidenomics/" target="_blank" rel="noopener">explained recently</a> by David Winston, the president of The Winston Group and a GOP adviser, just about everything is more expensive than it was on the day Biden took office.</p>
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<p>Biden&#8217;s solution, Winston correctly points out,  has been &#8220;trying to dress up central planning as America First.&#8221;</p>
<p>The current president even tried to sell his economic agenda as &#8220;BABA&#8221;— Building a Better America. As previously discussed, BABA sounds similar to former President Donald Trump&#8217;s MAGA — Make America Great Again, but like most phony imitations, it has proven to be a crappy product that falls apart under the slightest bit of pressure.</p>
<p>BABA didn&#8217;t really click with the American people, so now he&#8217;s trying to sell his vision for the country as Bidenomics.</p>
<p><em>It&#8217;s been a great success for America, just ask him.</em></p>
<p>Whatever he calls it, the results are the same: The American people are worse off today than they were four years ago. The proof is in the pudding — that <a href="https://www.foodandwine.com/news/snack-prices-rising-2022-oreo-mondelez-kraft#:~:text=%22The%20products%20include%20varieties%20of,percent%2C%22%20CNN%20Business%20wrote." target="_blank" rel="noopener">now costs more money</a>, evidently.</p>
<p><em>The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.</em></p>

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Poverty Rate Increases For First Time In Over A Decade: Bidenomics!

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Poverty Rate Increases For First Time In Over A Decade: Bidenomics!