Economic dream? Or nightmare?
The holidays are around the corner and in this economy, that means Americans will either stretch budgets as best they can, go into debt, or go without. Bidenomics, the name President Joe Biden embraced for his plan to “restore the American Dream,” has proven to do anything but that. Reports on how the economy is doing on a macro level vary. Some wonder if we are currently in a recession, others say it’s coming, and still others posit we just missed one. In October, liberal economist Paul Krugman tweeted joyously that inflation was over based on a chart which excluded essential items people need like food, energy, shelter, and used cars. The backlash online was swift and fierce. Sure, the economy is great, according to Biden and some economists, if you don’t have to buy or finance anything. All this raises the question: If this is Biden’s economic plan to help people achieve the American Dream—where a 6.25 pound package of chicken breasts is $18 at Walmart— what would constitute a nightmare?