The New York Times employed two of their Bidenomics-shilling flunkies to harp on why the president’s decrepit economy is actually great and the disgruntled voters are just dumb for not buying it.
Times columnists Paul Krugman and Peter Coy co-authored a conversational-like piece of propaganda to once again attempt to prop up the Bidenomics cadaver. “Paul, I think the economy is going to be a huge problem for President Biden in 2024,” Coy wrote. He then condescended to voters: “Voters are unhappy about the state of the economy, even though, by most measures, it’s doing great.” Krugman, who already made himself look foolish Dec. 16 by claiming 2023 was “one of the best years ever” for the U.S. economy, echoed Coy’s nonsense: “I’m not sure about the politics. We can get into that later. But first, can we acknowledge just how good the current state of the economy is?” To which Coy gleefully responded, “Absolutely.” Their bumbling conversation piece was headlined: "Will the Economy Help or Hurt Biden ’24? Krugman and Coy Dig Into Data."
Sure, Krugman. Biden’s economy is so — er — great that it “is now less affordable than any time in recent history to buy a home, and the math isn’t changing any time soon,” as The Wall Street Journal reported Dec. 11. A Dec. 10 CBS News poll found that 76 percent of Americans said their wages were not keeping up with inflation.
Another CBS News analysis from November 2023 found that “[t]he typical American household must spend an additional $11,434 annually just to maintain the same standard of living they enjoyed in January of 2021.” If that’s not bad enough, household debt also hit a new, chilling record of $17.29 trillion. But Krugman propagandized that many analysts are allegedly proclaiming that “the soft landing has arrived.” In Krugman’s world, “The eagle has landed.”
Coy, however, did not exactly share Krugman’s optimism about the Federal Reserve sticking the so-called “soft-landing,” but still proceeded to downplay Americans whose wages are struggling to keep pace with the exorbitantly high prices. “While everyone talks about the cost of living going up, pay is up lately, too.”
Heritage economist Peter St. Onge pointed out in a recent explainer video that Americans’ incomes aren’t the only things taking a major hit from the inflation crisis spurred on by Bidenomics. Americans’ retirement savings are also in jeopardy: “One quarter of American's retirements savings -- $30,000 -- are gone since Joe Biden took office. Enough to delay millions of Americans' retirement for a decade,” St. Onge wrote in an X post. Bloomberg News also reported in October 2023 that “Half of Working-Age Americans” are struggling to afford medical care due to rising prices.
One quarter of American's retirements savings -- $30,000 -- are gone since Joe Biden took office. Enough to delay millions of Americans' retirement for a decade.— Peter St Onge, Ph.D. (@profstonge) January 1, 2024
All while prices have soared to the point the average American is spending $11,400 more per year just to keep up,… pic.twitter.com/0J7CgKl2t2
But Krugman, true to form, tried to downplay the disconnect between his illusory concept of a goldilocks economy under Biden and the disgruntled voters as simply a Republican issue. “One effect is partisanship. People in both parties tend to be more negative when the other party controls the presidency, but the Briefing Book folks find that the effect is much stronger for Republicans. So part of the reason consumer sentiment is poor is that Republicans talk as if we’re in a depression when a Democrat is president, never mind reality,” Krugman spewed. “That is so true. And I think the effect is even stronger now than it used to be because we’re more polarized,” chimed Coy.
No, Americans’ discontent with Biden’s economy is not a partisan issue. A Bankrate survey found in November 2023 that 59 percent of independent voters have expressed that their economic situation “has deteriorated since 2020,” according to Fox Business.
In fact, a recent Monmouth University poll of 803 adults — which featured 41 percent who identified themselves Independents, 31 percent as Democrats and just 28 percent as Republicans — found that 68 percent of respondents panned Biden’s handling of inflation. Even more notable is Democrats’ growing discontent with the president: “while 62% of Democrats approve of how Biden has handled inflation, a sizable 35% disapprove.” [Emphasis added.]
Conservatives are under attack. Contact The New York Times at 800-698-4637 and demand it distance itself from Krugman and Coy’s gaslighting on Bidenomics.