As the holiday season approaches, Americans are facing a tough decision: stretch their budgets, go into debt, or do without. President Joe Biden’s economic plan, known as Bidenomics, aimed to “restore the American Dream,” but it seems that goal is still out of reach.
There are mixed reports about the state of the economy on a macro level. Some experts predict a recession is either imminent or already happening. In October, economist Paul Krugman tweeted that inflation had ended based on a chart that excluded essential items such as food, energy, shelter, and used cars. This tweet sparked controversy and highlighted the disconnect between the economy’s performance and people’s everyday struggles.
While President Biden and some economists claim that the economy is doing well, this perspective may not reflect reality for those who need to purchase or finance basic necessities. This raises questions about whether Biden’s economic plan truly helps people achieve the American Dream when basic needs become increasingly expensive.
Given these challenges, it’s worth considering what would constitute a nightmare under Bidenomics as the cost of items like a 6.25-pound package of chicken breasts continues to rise.
In conclusion, Americans face tough decisions during the holidays due to the current state of the economy. While President Joe Biden’s economic plan aimed to restore the American Dream, it seems that goal is still out of reach. The conflicting reports about the macroeconomy add to this uncertainty and make it challenging for individuals to make informed decisions about their finances during this time of year.