Triple G wrote:
I wasn't denying that inflation WAS bad and that Covid disruptions happened. What Biden has done is bring inflation down to 3% faster than expected to be possible. Wages are positive against inflation. Things besides inflation impact food prices.
Is inflation down to where fed rate cuts are being considered - Yes
Are real wages increasing - yes
Is US the highest oil producer - yes
Is job growth positive - yes
Is the market favorable to Bidenomics - yes
Is the US doing better than most other nations - yes
Your pulling out numbers without relating them to reality is just cherry picking. Everything Biden said is true.
"In response to Biden’s claim, the Republican Party tweeted, “Biden wants us to believe real wages are higher under ‘Bidenomics.’ They aren’t.” The post notes, “real wages are down 3% since Biden took office.” It’s true that measuring from the start of Biden’s term in office, January 2021, real weekly earnings for production and nonsupervisory employees, the measure we prefer, have declined about 3.5%.
But that’s not the statistic Biden cited. Instead, he compared real wages now to those before the pandemic. Using January or February 2020 as a starting point, which makes the most sense, Biden is correct. We’ll leave it to politicians to debate whether that is due to so-called Bidenomics, as Biden claimed."
What other metrics do you want answers for? Next?
I wasn't denying that inflation WAS bad and that C... (
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Biden said that “wages keep going up, inflation keeps coming down.” But over the entirety of Biden’s presidency, wages are down when adjusted for inflation. Average weekly earnings for rank-and-file workers went up 14.8% during Biden’s first three years in office, according to monthly figures compiled by the Bureau of Labor Statistics. But inflation ate up all that gain and more. “Real” weekly earnings, which are adjusted for inflation and measured in dollars valued at their average level in 1982-84, actually declined 3.1% since Biden took office.
The facts about earnings cited above should resolve your misunderstanding about real wages. Re: your last question so we can put that issue to bed. Let's see your fact checks to all of my assertions.