The American economy has been in shambles since President Biden took office over two years ago. His economic policies, dubbed “Bidenomics,” have caused widespread job losses, especially for American nationals, as work goes to imported foreign workers instead. Despite this reality on the ground, the mainstream media propagandists continue to downplay the situation and hide the true extent of the economic damage from the public.
Under Biden, the unemployment rate soared to levels not seen since the pandemic. The labor force participation rate fell to a multi-decade low, meaning millions of Americans of prime working age were pushed out of the workforce entirely. This is a stark contrast to the economic picture when Biden took over, with unemployment at 50-year lows and an all-time high labor force participation rate.
The main culprit has been Biden’s extreme open borders policies. By allowing millions of illegal immigrants to flood in, he has greatly expanded the labor supply and sent wages plummeting. American workers now face an army of cheap foreign labor undercutting them for every job – from low-skilled fast food and retail positions all the way to high-tech jobs in Silicon Valley. The latest JOLTs report showed over 12 million job openings, with the vast majority going to foreign workers, not unemployed Americans.
Don’t believe the fake media hype about low unemployment. The real unemployment rate, when including those out of the labor force and working part-time for economic reasons, is over 20%. More Americans are on unemployment and food stamps now than at any point in the 2010s. Millions are either jobless or stuck in low wage jobs with no future. Home ownership has plummeted as housing costs skyrocket.
The Census Bureau’s alternative income and poverty measures paint an even bleaker picture than the headline numbers. Real median household income is down 20% from 2000 levels. The poverty rate, when including cost of living increases and taxes, is over 30%. Almost a third of Americans are in real poverty.
The economic malaise has disproportionately impacted working class Americans. Over 100,000 factories have closed since Biden took office, wiping out millions of good paying manufacturing jobs. Towns are decimated as plants shut down. The poverty rate in many heartland counties is now 40-50% based on the Census numbers. These areas voted heavily for Biden but got nothing but economic devastation in return.
The media also hides the full extent of the immigration-fueled jobs crisis. They report the unemployment rate but gloss over chained CPI and alternative measures of income and poverty. They never mention that only 10% of jobs created since 2020 went to native-born Americans. 90% went to foreign-born workers. They ignore the Census data showing most job gains have been for foreign-born, not native-born.
The elites are getting richer while workers suffer. Wall Street is at all-time highs as corporate profits surge due to cheap labor. But workers’ wages are stagnant, when adjusted for real inflation. The stock-to-wage ratio is more lopsided than ever. The wealthy have captured all the economic gains.
Bidenomics has created the worst economy since the Great Depression for the working class. It’s a tale of two Americas – prosperity for the top 10%, and a dystopian hellscape of job losses, poverty, and despair for the bottom 90%. We need a new economic model and leadership that prioritizes American workers. The current policies are a disaster that will only worsen if we follow the media lies and don’t open our eyes to the harrowing situation right in front of us.
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