Joe Biden has come to embrace the term Bidenomics, though two weeks ago he was saying he didn’t know what it meant. He delivered a campaign speech to a friendly crowd in Chicago Wednesday and made all sorts of wild claims about the wonders of his economic policies. Bidenomics is great if you like more government spending, more government regulations, and higher taxes. Otherwise, Bidenomics is a disaster for most Americans, especially working class and lower income Americans that Biden claims he is helping the most. Malarkey.

One way to look at it is through the lens of something as simple as grocery prices. If you are the food shopper in your house, as I am, you know that food prices began to go crazy during the pandemic and have continued to be crazy to this day. You will see some headlines that food prices are down from last year. Feeling good about that fails to recognize that food prices are still 14% higher than they were just two years ago. Some items may be down from last year but prices are still at historical highs. Last year, thanks to Bidenomics, cookout menu prices were at a 10-year high.

Last year I wrote that thanks to Bidenflation, the cost of a 4th of July cookout was up 17%. In 2021, I wrote about the White House lamely announcing that a 4th of July cookout would cost 16 cents less than the year before.

The American Farm Bureau Federation marketbasket survey tells the tale. A cookout this year will cost “significantly” more than two years ago, though some prices have fallen slightly from record highs in 2022. This year, families hosting a get-together for ten family members or friends will pay $67.73 in food costs.

The $67.73 grocery bill is down 3% from 2022, but still approximately 14% higher than prices were just two years ago. Last year set a record high since AFBF began the survey in 2013, and 2023 comes in as the second-highest cost. The cookout favorites include cheeseburgers, chicken breasts, pork chops, homemade potato salad, strawberries and ice cream, among other products.

“The slight downward direction in the cost of a cookout doesn’t counter the dramatic increases we’ve seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high,” said AFBF Chief Economist Roger Cryan. “Don’t assume farmers come out as winners from higher prices at the grocery store either. They’re price takers, not price makers, whose share of the retail food dollar is just 14%. Farmers have to pay for fuel, fertilizer and other expenses, which have all gone up in cost.”

The marketbasket survey shows a year-to-year increase in the cost of hamburger buns, beef and potato salad, while there are drops in the cost of chicken breasts, lemonade and cookies.

The retail price for a package of eight hamburger buns increased 17% to $2.26. Homemade potato salad will cost $3.44, up 5% from 2022. The cost of 2 pounds of ground beef rose 4% to $11.54.

The most traditional All-American kind of cookout item – a hamburger – will cost more this year. Thanks, Bidenomics. You might have to switch to chicken breasts. The price of eggs is down, as is the price of cookies. Farm Bureau said that drought conditions play a role in higher costs for items like beef. General inflation drives up the price of processed foods like bread. A drop in the cost of lemons makes lemonade less expensive.

Here is the breakdown by the Farm Bureau marketplace survey:

Individual Prices, AFBF 2023 Summer Cookout:

2 pounds of ground beef, $11.54 (+4%)
2 pounds of chicken breasts, $8.14 (-9%)
3 pounds of pork chops, $14.37 (-6%)
1 pound of cheese, $3.53 (no change)
1 package of hamburger buns, $2.26 (+17%)
2 ½ pounds of homemade potato salad, $3.44 (+5%)
32 ounces of pork and beans, $2.44 (-3%)
16-ounce bag of potato chips, $4.53 (-4%)
13-ounce package of chocolate chip cookies, $3.90 (-10%)
½ gallon of ice cream, $5.29 (+3%)
2 pints of strawberries, $4.56 (+3%)
2 ½ quarts of lemonade, $3.73 (-16%)

Other claims in Biden’s speech about Bidenomics were easily fact-checked. Like the claim that food prices are coming down and making it easier on family budgets, other boasts from Biden were shown to be false. During the speech, FOX News fact-checked in real time his statements.

U.S. consumer prices from January 21 to May 23 – up 15%
May inflation year over year – up 4.0%
Total credit card debt in Q1 2023 was $986B – up 28% under Biden
Existing home sales from January 2021 to May 2023 – down 34%
New home sales from January 2021 to May 2023 – down 15%
Average hourly earnings rom January 2021 to May 2023 – down 3.1%
Americans living paycheck to paycheck in May 2023 – 57%

While Joe Biden credits Bidenomics for strong jobs creation, most Americans don’t feel the benefit of a strong jobs market when any higher wages are offset by higher everyday living costs. As a rule, the average household is spending more than $700 in additional costs each month just to keep up with existing expenses. Bidenomics picks winners and losers and doesn’t allow the free market to work. 64% of Americans are worried about paying everyday bills. 7 in 10 Americans say the economy is doing poorly.

Biden’s claims of happy days are here again with the economy don’t ring true with most Americans. He lives in a different world than that of the people he claims to be helping. Biden’s own government agency, the Bureau of Labor Statistics, contradicts Biden’s claims of rising wages.

Real average hourly earnings increased 0.2 percent, seasonally adjusted, from May 2022 to May 2023. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 0.7-percent decrease in real average weekly earnings over this period.

Biden thinks you are stupid, because, frankly, he is. He has been a Swamp Creature for decades and it shows.

Consumer confidence is reported to be up. Again, the findings are a mixed bag. Consumer fears of a recession declined in June with 69.3% saying a recession is somewhat or very likely in the next 12 months, down from 73.2% in May. Sure, the number is better, but the number was crazy high to begin with. In Biden’s America, this kind of improvement is enough to send the president out to crow about Bidenomics. His campaign wants him to run on the economy and his legislative successes. That doesn’t seem like a good idea, with Biden’s approval rating at 43%, the highest it has been since he began his term in office. For most of his presidency, his approval rating has hovered between 37% and 39%.

All of this is to say that the alleged good news of Bidenomics rests in very small advances out of the deep hole dug by Biden’s policies. Whether it is historically high inflation that makes everyday purchases of groceries and gas difficult on family budgets or the pain felt from high interest rates when people are depending on making purchases with credit cards to stretch cash shortages, Bidenomics are a disaster for most Americans. First time home buyers are facing high mortgage rates, often pricing them out of the market. Things are not good in Biden’s America and 7 in 10 Americans think the economy is doing poorly, no matter what Biden says.