President Joe Biden's economic plan, dubbed "Bidenomics," is to blame. three laws signed during Biden's first two years in office. It's the plan's three pillars—The infrastructure law, which has bipartisan support, aims to stimulate road and bridge construction. The Chip Act seeks to boost semiconductor manufacturing within the US. And the Inflation Reduction Act allocates hundreds of billions of dollars to finance clean energy projects and tackle climate change.—have all contributed to the hamster wheel effect.
The infrastructure law has helped to stimulate economic growth, but it has also led to higher prices. The semiconductor law has boosted manufacturing, but it has also contributed to supply chain disruptions. And the inflation reduction law has had little impact on rising prices.
It seems that Biden believes that the American economy is a hamster wheel, where he can improve things by making it spin faster. But the problem is that the American economy is not a hamster, it's a complex system that requires more thought and understanding.
According to the Wall Street Journal, American voters are concerned about rising prices and falling real wages during Biden's presidency. His age and manner of speech also represent major weaknesses, even in the face of 77-year-old Trump.
Even Americans of all races are feeling the pain of Bidennomics. A new survey conducted by the US Federal Reserve explained the reason for the dissatisfaction of Americans, especially minorities, from Biden's economic policies. This translated into a widespread increase in economic pessimism that was particularly strong for Americans. Non-whites, and although Americans in general have become wealthier during Biden's term, minorities in particular have suffered during his years in office. Average wealth did not grow much for Hispanic families, while it decreased for black families after adjusting for inflation. Income for white families increased by 1.3%, while it decreased for black and Latino families by 1.6% and 1.1%, respectively. Minority wages have not kept pace with inflation compared to whites, according to Fed data, although unemployment is relatively low at 3.8%. Americans' bills have risen at the same rate or faster than their salaries, and they may also be concerned that economic
In short, Americans feel like lab rats in a scientific experiment, where they are being tested to see how they react to a failed economic plan. The result is that Americans are feeling frustrated and angry, and they are ready to get rid of the responsible for this experiment.
