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Data revealed by The Wall Street Journal shows the true extent of havoc Bidenomics has wrecked on the U.S. economy. Even as the Dow Jones Industrial Average surpassed 40,000 points, the economy under Joe Biden‘s tenure in the White House has struggled to grow beyond a sluggish rate. Despite the seeming market success that has recently occurred under the Biden government, the numbers belie just how successful investors were under former President Donald J. Trump.

Fast food is no longer healthy for your wallet. Common fast food favorites increased in price under President Joe Biden’s so-called Bidenomics. Fast food inflation has a disparate impact across racial and ethnic groups due to different levels of fast food consumption. According to the Centers for Disease Control and Prevention (CDC), 42.4 percent of non-Hispanic black adults consume fast food, compared with 37.6 percent of non-Hispanic white adults, 35.5 percent of Hispanic adults, and 30.6 percent of Asian adults. The higher price tag of popular foods may be creating political problems for Biden. Thirty percent of black men and...

One tax table is focused on taxing Americans on their ordinary income, the income you earn from your job or your business. The other tax table is focused on taxing your long-term capital gains, meaning assets that have grown in appreciation such as stocks or your business value held more than 365 days. * * * According to a report issued by the Treasury Department, led by Secretary Janet Yellen, Biden’s proposed fiscal year 2025 budget would increase the top marginal rate on long-term capital gains and qualified dividends to an astonishing 44.6%. Today, that top marginal long-term capital gains...

It's crazy to think how much better we had it just five short years ago. You could get a $1.29 McChicken, a $1.69 5-layer burrito from Taco Bell, 8 nuggets at Chick-fil-A for $3.05. We had it made! Since 2019, however, those prices have essentially doubled, and that's not only outrageous, it's depressing. Let's check on the numbers, shall we? So here's what inflation looked like overall during that period: According to the Bureau of Labor Statistics' inflation calculator, prices in general went up by around 21.5% between December 2019 (prior to the onset of the COVID-19 pandemic and economic...

Business groups are pushing back against a new Biden administration rule that would allow third-parties, including union representatives, to accompany federal inspectors of job sites. The Occupational Safety and Health Administration issued the final rule earlier this year, but critics say the rule goes beyond safety needs and panders to unions and their recruitment efforts. The rule would apply even to job sites where workers have not unionized. The National Federation of Independent Businesses, along with the U.S. Chamber of Commerce and other business groups, are helping lead the charge against the new “walkaround” rule, which takes effect May 31...

“Corporate price gouging” is the Biden administration’s latest narrative to displace the responsibility of soaring costs. President Joe Biden, who falsely claimed twice in two weeks that inflation was at nine percent when he assumed office, is transitioning to another tack, albeit a strategy he has used before. “President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” White House deputy press secretary Andrew Bates claimed. “Standing up to corporate price gouging is at the core of that fight.”

Well, we’ve pinpointed the big, ugly disconnect in the Biden economy, and it’s a massive YIKES. While Team Biden clumsily tries to sell us on the idea that the economy is fantastic and we’re better off than ever, the grim reality just got blasted out for all to see in one of the most alarming graphs ever. It shows that since Biden took office, household net worth has plummeted, sharply contrasting the financial stability many enjoyed under President Trump. This graph once again proves that what we see firsthand everyday. The truth always “trumps” the Biden smokescreens and spin. Inflation...

Get ready for a recession that hammers consumers, squeezes companies, and drags down stocks, a veteran economist warned. "There is a very high probability of a recession," Nancy Lazar, Piper Sandler's chief global economist, told WealthTrack in a recent interview. Lazar, a cofounder of Cornerstone Macro and ISI, cited the delayed impacts of the Federal Reserve's interest-rate rises and credit drying up as two likely drivers of a downturn. "We just think this is a very risky economic environment," she said. "When banks are tightening lending standards, and you clearly have higher interest rates, you've never had a soft landing....

According to Kenneth Schrupp at The Center Square, a new analysis from the U.S. News and World Report agency found that California ranked “dead last” among the 50 states when it comes time to “opportunity.” In other news water is still wet.What could have possibly indicated that California wasn’t the friendliest location for anyone wanting to build a life of prosperity and freedom?Was it the state’s nearly seventy-billion-dollar deficit?Was it the mass exodus that has seen hundreds of thousands of people flee the state for friendlier locales, a trend which has resulted in a net negative for legal population and...

President Biden has called for increasing tariffs on imports of steel from China. President Trump has also called for increasing tariffs on all goods from China. Although these tariffs may help with shifting some demand to United States steel, there is a cost involved to the consumer: inflation. The economy was strong during the Trump administration, but Forbes analyzed the effect of tariffs during that time. The conclusion was mixed, but the tariffs may not have been as positive as originally believed.Most economists agree that tariffs don’t always produce a boost in U.S. manufacturing. In addition, the cost of goods...

An economist offered an explanation for a paradox that has emerged in recent data showing that spending has remained robust even as consumers report feeling pessimistic. Joanne Hsu, who is the director of the University of Michigan’s consumer sentiment survey, told CNBC on Friday that she thinks Americans have abandoned plans to save money as they see their financial goals look less attainable and are spending money instead. “This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have,” he explained. “And instead my interpretation is that consumers see that a lot...

Grocery prices fell on the whole in April for the first time in 12 months, according to data released Wednesday by the Labor Department.

President Javier Milei of Argentina continues to stun his critics with an economy that has outperformed expectations and continues along an ambitious path for national security, including pursuit of a NATO global partnership. "The fact that you have a president, head of state, who is defending the free market, who is defending the role of entrepreneurs and businessmen as creators of value and just defending deregulation when the tendency in Latin America and much of the West has been to regulate the economy . . . I think that's very positive, not only for Argentina, but for the region as...

I never imagined that we would ever see a time when it takes $177,798 for a family of four to live comfortably in the United States. Unfortunately, that day has arrived. Our leaders have been pursuing highly inflationary policies for many years, and now we have reached a point where inflation is wildly out of control. In fact, the latest wholesale inflation figure that was released on Tuesday came in much higher than expected. Sadly, this is just the beginning and we are in far more trouble than most people realize.According to an incredibly shocking new study, most Americans do...

s the nation’s $34 trillion-plus debt remains top of mind for some on Capitol Hill, polling has shown Americans have also grown more concerned about the country’s balance sheet. Although Washington is deeply divided over how to tackle the nation’s deficits, there has been some momentum among House Republicans for a special commission to explore ways to improve the country’s fiscal trajectory. Those efforts have fueled concerns about cuts to key programs seniors rely on, like Social Security and Medicare. But experts warn the potential consequences of higher debt could impact all Americans.

Sen. Mitt Romney (R-UT) told MSNBC on Wednesday there was “no question” that the economy under President Joe Biden was “strong” and “doing well.” After MSNBC host Stephanie Ruhle asked Romney during an interview why he was so optimistic about the future of the country, Romney replied, “First of all, America is an extraordinarily resilient country.” He explained, “We just had this extraordinary pandemic, and yet our economy is strong, low levels of unemployment, it’s extraordinary, and it’s not because the president is pulling all the levers in the right way. No, it’s not. It’s because the American people are...

California Gov. Gavin Newsom (D) has turned to climate change to explain how the state went from a $100 billion surplus two years ago to a $28 billion deficit, which would have been even higher prior to drastic actions last month. As CalMatters noted, deficit estimates ranged from $38 billion to $73 billion: That prompted Newsom and the Legislature to take “early action” last month to reduce the deficit by more than $17 billion ahead of the regular budget process. Their plan included some program cuts, but mostly relied on new revenue, internal borrowing and funding delays and shifts for...

Credit card delinquencies are on the rise, as research from the New York Federal Reserve shows nearly a fifth of borrowers are “maxed-out.” According the new report, issued by the bank’s Center for Microeconomic Data, household debt rose by 1.1 percent, or $184 billion, in the first quarter of the year, bringing the total to $17.69 trillion. “In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” Joelle Scally, regional economic principal within the household and public policy research division at the bank, said in a statement....

Dozens of Democratic lawmakers signed a letter to President Biden, pleading with him to act on high grocery prices that have been slow to fall as inflation has come down. Sen. Elizabeth Warren, D-Mass., led the letter Monday morning, calling on Biden to "exercise your executive authority to take additional action to address rising food prices without congressional action." The letter amassed 40 Democratic signatories between the House and Senate, including senators Bernie Sanders, I-Vt., and Richard Blumenthal, D-Conn., and representatives Ilhan Omar, D-Minn., Alexandria Ocasio-Cortez, D-N.Y., and Rashida Tlaib, D-Mich., among others. The lawmakers acknowledged "Americans are facing sky-high...

Actor John Leguizamo wants Latinos to stop blaming President Joe Biden for the economy, telling them to instead blame record-high consumer prices on COVID and Trump. In a Salon interview last week, John Leguizamo was reacting to recent polling figures showing former President Donald Trump gaining ground among Latino voters. “Because Latinos, they’re blaming him [Biden] for the economy, which they shouldn’t be because COVID was the culprit and Trump not handling COVID was the culprit in damaging our economy,” he said. “But our economy is doing great. It’s just inflation that’s messing up everybody’s paycheck. So I understand that.”