'Bidenomics' equals stagflation, bleak American future

“Bidenomics” equals stagflation. That’s America’s sober economic reality after more than 2½ years of the Biden presidency, pockmarked by profligate government spending, soaring interest and mortgage rates, a precipitous loss of strategic energy dominance, a southern border invasion, a new and expensive endless war, and a rapidly expanding trade deficit.

Stagflation is a “tax” crueler than inflation alone, which eats away at our purchasing power. This is because the “stag” part of stagflation also entails recession or slow economic growth.

As the 2024 presidential election approaches, Bidenomics is conjuring up the ghost of a 1970s stagflation past that ended in a landslide victory by Republican candidate Ronald Reagan over Democratic President Jimmy Carter. In the final 1980 presidential debate, with polls surprisingly close given the grim economy, Reagan asked the American people, “Are you better off than you were four years ago?”