As the holiday season approaches, Americans face the challenge of stretching their budgets, going into debt or doing without due to the current state of the economy. Despite President Joe Biden’s economic plan, known as Bidenomics, being aimed at “restoring the American Dream,” it has fallen short of that goal.
There are conflicting reports about the macroeconomy, with some predicting a recession is imminent or already occurring. In October, economist Paul Krugman tweeted that inflation was over based on a chart that excluded essential items such as food, energy, shelter and used cars. This was met with backlash, highlighting the disconnect between economic performance and people’s everyday struggles.
According to Biden and some economists, the economy is doing well. However, this perspective may not reflect reality for those who have to purchase or finance essential items. This raises questions about whether Biden’s economic plan is truly designed to help people achieve the American Dream, especially when basic necessities become increasingly expensive.
In light of these challenges, it’s worth considering what would constitute a nightmare under Bidenomics. For example, a 6.25 pound package of chicken breasts continuing to rise in cost could be seen as a nightmare scenario for many families struggling to make ends meet during the holidays.
Overall, while there are conflicting views on the state of the economy under Bidenomics, it is clear that Americans are facing significant challenges in achieving financial stability and security during this holiday season.