May 19, 2024

Following one of the oddest State of the Union addresses given by a sitting president — who spent nearly an hour yelling at his constituents — the sober realization is that Bidenomics may not be the gem that the White House likes to portray. I know it’s a shocker that the current White House Press Secretary, Karine Jean-Pierre, might not be truthful about how the economy is doing under her boss.

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As my colleague Bonchie pointed out earlier Wednesday, if Sleepy Joe and crew expected a bounce from the State of the Union yell fest, what they received was a thud. Panic Time for Democrats As Joe Biden Gets No Bump From Terrible State of the Union Speech

The disconnect between the press and average Americans was laid bare following Joe Biden’s angry and divisive State of the Union speech in early March. 

As RedState reported, the president appeared to be hopped up on stimulants as he shouted his way through the first half-hour of his remarks. That he decided to focus on Ukraine and January 6th before any of the actual things most Americans are concerned about didn’t help his performance either. 

When Biden finally got to the issue of illegal immigration, which consistently places near the top of priorities for voters in various polls, he mispronounced Laken Riley’s name, calling the murdered Georgia college student “Lincoln.” His comments on the economy were no better, with him attempting to garner credit for the deficit still being near record highs while ignoring the stubbornly high inflation and astronomical interest rates that continue to hamper American families. 

Case in point, the economy continues to hamper American families. This story highlights another national chain shuttering over a thousand stores popular with people looking for some relief during the Biden inflation cycle. 

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Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.

Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire.

Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.

This comes on the heels of a less-than-stellar inflation report for last month: Inflation Unexpectedly Higher in February Than Economists and White House Predicted 

Inflation gave Team Bidenomics a swift kick in the pants. It rose by 0.4% in February, the highest monthly increase since September, pushing the year-to-year rate to 3.2%, compared to 3.1% for the January year-to-year rate. Economists had expected a 3.1% year-to-year rate in February.

The White House is pushing the story that “volatile” gasoline prices—and probably predatory price-gouging by gas station owners—are to blame, but the data say something different. The Core Consumer Price Index has increased steadily for seven months.

A couple more increases like this over the next couple of months leading into the summer are probably going to put some doubt into whether or not the Fed will reduce interest rates in any way, shape, or form over the summer. Most economists I’ve read have been pimping the fact that the Fed would possibly reduce interest rates, even a quarter point, and the hope would be that that would stimulate the economy and the housing market to keep this Bidenomocis recovery going.

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At least the appearance of one.

However, now that another nationwide company is not just laying off people but closing a thousand locations, and given that its business model is based on affordable products for people without a lot of expendable income, it has to give people pause, particularly with a national election just around the corner in eight months.

Is this country better off than it was four years ago?

Of course, that answer will vary for every family and individual, but if you look at the country’s overall condition and not just the economy, I think it’s fair to say we are worse off than we were when Joe Biden first took office in January 2021.

Also, with the Biden administration’s policy of allowing millions of undocumented people into the country, which will cost the taxpayers an ungodly amount of money, and with the news that just came out that he’s looking to give more US dollars to the Iranians, you have to wonder: Does this administration care at all about the people who are footing the bill for all this? 

President Biden Is Set to Give a $10 Billion Gift to Iran

The Biden administration is poised to issue a fresh sanctions waiver for Iran that will grant the country access to upward of $10 billion in frozen assets, providing Tehran with “a financial lifeline” as it foments terrorism across the Middle East, according to a group of GOP lawmakers.

In November, shortly after Hamas’s attack on Israel, the State Department signed off on a sanctions waiver that permits Iraq to transfer multibillion-dollar electricity payments to Iran. The waiver, which grants Tehran access to around $10 billion in frozen funds, is set to expire this month unless the Biden administration renews it.

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With all this news about how the country is faring right now, I sometimes wonder if the men and women who founded this country are looking down from heaven and wondering why they sacrificed so much and fought so hard to allow this country to fall into this abyss.

I know if I were one of them, I would be disgusted with us right about now, and I can’t blame them one bit.

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