Political experts agree that the state of the economy will play a critical role in the upcoming elections.
With this in mind, Joe Biden and his allies will do just about anything to convince voters that he has helped them economically.
But, this troubling statistic completely blows up Joe Biden’s claims about “Bidenomics.”
Joe Biden has some explaining to do as he tries to sell “Bidenomics” to the American public
Almost as soon as President Joe Biden entered the White House in 2021, inflation began to skyrocket.
Before too long, inflation neared 10%, causing the very politicians and unelected government bureaucrats who caused the issue in the first place to claim they were going to “fix” it.
That is when Congress passed the so-called “Inflation Reduction Act,” which Biden and his cronies claimed was about reducing inflation, even though it had virtually no impact on the issue, and Democrats ultimately admitted it was more about environmental extremism than inflation.
While inflation is no longer increasing as rapidly as it was at its peak, the prices of most goods and services have sharply increased, negatively impacting working class Americans the most.
On Sunday, USA Today published an article in which it reviewed one statistic that many economic experts have looked over.
According to USA Today, pawn shops have seen a massive spike in people selling and pawning their valuables, which experts attribute to rising inflation and economic hardship.
USA Today spoke to an El Paso area pawnbroker named Clay Baron on the matter, who said “Right now we have a glut of inventory,” adding, “which tells me that our clientele doesn’t necessarily have money.”
The report then cited Laura Wasileski, spokeswoman for the National Pawnbrokers Association, who told USA Today that “Pawn balances have risen across the country in the past two years.”
She added that the reasons for this increase include, “cost-of-living increases, the lack of access to credit, short-term emergencies, and the fact that 50% of American households do not have $1,000 in savings to cover those emergencies.”
These economic woes directly oppose the narrative President Joe Biden, his regime, and their media allies have tried to force feed working class Americans when it comes to inflation.
“My top economic priority is lowering costs and today’s report shows we continue to make progress on that front,” Biden claimed last month.
“Inflation is down two-thirds from its peak and annual core inflation is the lowest since May 2021,” he added, once again mischaracterizing what the Consumer Price Index indicates about inflation. “Wages are rising faster than prices over the last year and since the pandemic.”
The Biden economy doesn’t work for most working class Americans
Biden has made it his mission to convince the American people that his policies have helped their bottom line.
However, report after report – not to mention the reality Ammericans have experienced their entire lives – indicates that prices are not going down any time soon, straining the budgets of millions of Americans.
Nonetheless, Biden and his regime continues to “take credit” for what they claim is a booming economy.
For President Biden and his cronies, upselling the state of the economy is crucial to victory this November, as is the case in most Presidential elections.
Despite Joe Biden’s best efforts to convince Americans on how good they have it, his approval ratings remain very low, showing that most Americans are not buying it.
US Political Daily will keep you updated on any developments to this ongoing story.
