In a Biden v. Biden Race, Biden Loses

President Biden may want to throw President Trump in jail for the next 750 years, but, even in that unlikely event, Mr. Biden still has to run against his own record. Call it Biden v. Biden — and Mr. Biden is going to lose. A new Monmouth poll out today shows only 34 percent approve of Mr. Biden’s handling of inflation, despite his trying to sell Bidenomics on the campaign trail. By the way, that poll also shows only 30 percent of Americans feel the country is doing a better job recovering economically than the rest of the world since the pandemic. A Reuters poll has Mr. Biden at 33 percent approval for the overall economy, and at 28 percent for inflation. Not good, Mr. President. The other day, Mr. Biden was out pushing an alleged improvement in real wages, and, yes, in the month of June, inflation-adjusted wages might rise for the first time in 26 months. This is better, Mr. President. But, but, but, but: When Mr. Biden tweeted that real wages for the average American worker “is” higher than before the pandemic (can’t even get the grammar right…), no less an authority than Twitter’s Community Notes came down on his head. Get this: “The tweet’s claim about real wages contains a factual error.” I’ll bet it does. Then the Twitter Community Notes starts pounding away with factoids. Get this: “On 3/15/20, when U.S. COVID lockdowns began, real wages adjusted for inflation (AFI) were $11.15. As of 7/16/23 real wages AFI are $11.05. Real wages AFI remain lower (not higher) than before the pandemic.” That is an absolute bombshell. The wrath of Twitter. No more censorship, Mr. President. So, we consulted with the Bureau of Labor Statistics, and it turns out that since January 2021 — the length of Mr. Biden’s administration — average weekly earnings adjusted for inflation, a.k.a. real wages, are down nearly 5 percent. Mr. Biden also likes to make the case that inflation has been conquered. And, while it is true that the 12-month change has slowed to 3 percent on the CPI and 4.8 percent on the core CPI, actually for the length of Mr. Biden’s presidency — which is 26 months — the level of the CPI has increased by 16 percent. Just to name a few categories, grocery prices are up by 19.6 percent, energy prices by 33.1 percent, gasoline prices by 42.7 percent, used car prices by 34.5 percent, and air tickets by 41.6 percent. This is why people doubt the veracity of the president’s assertions. Then, of course, his most famous claim is that he cut the budget deficit by $1.7 trillion, which the Washington Post rated “highly misleading,” and later called it a Bottomless Pinocchio. In fact, in fiscal year 2023 alone, the U.S. budget deficit is now projected to rise by $2.25 trillion. Hard to square with Mr. Biden’s fiscal bragging. What’s more, our pal Liz Peek points out that the Biden brag of 800,000 new manufacturing jobs doesn’t wash, because, as of June, the U.S. had just under 13 million employed in manufacturing, virtually identical to the pre-pandemic number of 12.9 million. Also, the Heritage Foundation recently estimated that the average American household has lost the equivalent of $7,400 in annual income since Mr. Biden’s inauguration. So, even if Mr. Biden locks up Mr. Trump for 1,000 years, when Mr. Biden runs against his own record, Mr. Biden’s going to lose. That’s because the election is going to be about pocketbooks, kitchen tables, and it’s the economy, stupid. Oh, and by the way, the Trump lock-up scenario is just as unlikely as Bidenomics succeeding. From Mr. Kudlow’s broadcast on Fox Business Network.

In a Biden v. Biden Race, Biden Loses

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