Either President Bill Clinton’s unhinged former labor secretary is completely detached from reality or is flat-out lying about how star-spangled awesome President Joe Biden’s inflation-rattled economy supposedly is.
Robert Reich joined the Aug. 16 edition of MSNBC’s The ReidOut to throw rainbow sprinkles on top of the policy monstrosity known as “Bidenomics.” Insufferable MSNBC host Joy Reid attempted to browbeat Republicans for focusing on “manufactured crises” such as critical race theory as some sordid scheme to ignore the illusory economic genius of “Bidenomics.” She then tee’d up Reich to go on a ridiculous rant about an economy that has seen prices skyrocket upward 16.6 percent since Biden took office: “[T]he economy is great. It’s a Goldilocks economy. I’ll tell you, I’ve been watching or participating in economic policy for at least thirty years, and I don’t recall an economy that was this good.” Yes, he actually said that.
Of course, Reid kicked off the segment by falsely asserting Biden’s so-called “Inflation Reduction Act” was responsible for the decrease in the inflation rate from 8.56 percent to 3.2 percent between Aug. 16, 2022 and Aug. 16, 2023. But as PBS pointed out, “most economists say little to none of the drop came from the law.”
Reid and Reich just bypassed the fact that American households are currently paying $709 more for the same goods and services compared to two years ago. Specifically, as Washington Examiner commentary writer Tiana Lowe Doescher analyzed in an Aug. 9 column: “[F]ood is up 19% since January 2021, and electricity prices are up 23%. Used car prices are up a staggering 30%, and car repairs cost 23% more than two years ago.” Heritage Foundation Research Fellow EJ Antoni also noted in July, “The average American worker last month paid an inflation tax of 13.5%, like paying a second income tax.” But that’s not all. GO Banking Rates reported Aug. 4 based on a December 2022 Heritage Foundations study that “that Americans had lost around $7,100 in spending power since Biden’s inauguration in January 2021."
MRC Business Vice President Dan Schneider ripped apart Reich for his foolish take. “Reich was at odds with his own boss Bill Clinton when he was the Labor Secretary. He never saw a socialist program he didn’t like,” Schneider rebuked. “Economic reality has never been Reich’s strong suit, and he’s clearly missing the mark now.”
It’s easier for propagandists like Reid and Reich to dismiss the increasingly tenuous cost of living for the plebeians dwelling on planet earth, given that they both boast a networth of about $4 million each. A recent CBS News/YouGov poll found that a majority 65 percent of Americans view the economy as “bad.” Specifically, the survey of 2,181 U.S. adult residents revealed that 61 percent described the economy as “struggling;” 56 percent said “uncertain;” 36 percent said “unfair;” and 27 percent said “punishing.” What was more revealing was that a majority of the respondents placed either “a great deal” (44 percent) or some (36 percent) of the blame on Biden’s disastrous economic policies.
Conservatives are under attack. Contact MSNBC at (800) 952-5210 and tell it to stop peddling falsehoods to protect Biden’s economic image.