Columnist: The grim reality of ‘Bidenomics’ on this Labor Day

by WorldTribune Staff, September 4, 2023

On Labor Day 2023, after two and a half years of Team Biden, the grim reality is that the American worker is struggling “and no amount of ‘Bidenomics’ will change that,” a columnist wrote.

American workers ‘know that this economy is not working for them.’ / Sean Rayford / Getty Images

“Economic indicators tell a bleak story,” Linda McMahon, chair of the America First Policy Institute (AFPI) and the AFPI’s Center for the American Worker wrote for The Daily Caller. “Inflation hit 40-year high last year due to the Biden Administration’s reckless $6 trillion spending spree, and prices have risen by 17% under this administration. Interest rates have continued to increase. And for just the second time in history, Fitch Ratings has downgraded our Nation’s long-term credit rating.”

It wasn’t this way before “Bidenomics.”

“The spirit of the American worker is the very foundation of our great Nation. There is no force more potent, when left to be free, to prosper, and to flourish. From 2017 to 2020, American workers experienced once of the greatest and most robust economies in U.S. history, which featured the lowest unemployment rate in half a century, consistent wage increases, and a clear path out of poverty for millions of low-income Americans,” McMahon noted.

But the economic landscape is much different in 2023 and American workers “know that this economy is not working for them,” McMahon wrote. “Their salaries have not kept up with inflation, and 61% are living paycheck to paycheck. Under a mountain of paperwork requirements and new regulatory burdens, their productivity has declined. Credit card debt has hit a record $1 trillion. More of them have had to pull from their retirement savings just to make ends meet. At the same time, the Biden Administration is trying to limit worker flexibility by eradicating many kinds of freelance and independent contracting jobs, all in the name of allegedly protecting workers.”

Under Team Biden’s policies, McMahon added, hundreds of thousands of union jobs will be lost in the coming years.

“Requiring two-thirds of U.S. auto sales to be electric vehicles in the next 10 years will eliminate an estimated 117,000 auto manufacturing jobs nationwide, because electric vehicles require significantly fewer parts and assembly workers,” McMahon wrote. “Unfortunately, union leadership has gone along with the Biden Administration’s plans, sacrificing their members’ jobs and prospects in the process.”

It comes at no surprise, McMahon continued, that in 2023 “ ‘quiet quitting’ and ‘lazy girl jobs’ have been trending, especially with younger members of the workforce. The labor force participation rate — the number of people in the workforce or actively looking for a job — remains nearly two million workers lower than during the Trump Administration. American workers know that the current economy is being controlled by an administration that does not have their best interests at heart.”

McMahon concluded: “America was not made great by central planners and paternalistic governments, but by the blood, sweat, and tears of American men and women. This Labor Day, we would do well to honor their hard work — and respond by championing policies that empower them.”

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