Joe Biden has been touting the success of his economic recovery from the pandemic for quite awhile.
One of his big talking points during the midterms was that wages were increasing faster than inflation.
For the last several months, wages have gone up more than prices have gone up. Wages have gone up more than prices have gone up.
And on a month-to-month basis, it was hard to argue with him as the numbers coming out of the Bureau of Labor and Statistics backed (BLS) him up.
Well at least the data used to back him up; now, the BLS has quietly revised those numbers to reflect the actual data.
To be fair, revising early estimates with actual numbers is standard practice, but the midterm estimates were so far off, one can't help but suspect ulterior political motives.
Take a look:
Not only did wage increases not beat inflation, in many sectors wages decreased…significantly.
So while the price of everything was increasing, Americans were making a lot less in income too.
Welcome to Bidenomics: were the numbers are all made up, and Americans don't matter anyway.