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3) Under Biden It’s the Incredible Shrinking Pay Check
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The media and other Democrats keep expressing confusion that people are so unappreciative of Bidenomics. But it's pretty simple: wages have not kept up with prices, in stark contrast to the Trump administration. The 3% gap between paychecks and inflation since Biden came to office is roughly a $2,100 real decline in purchasing power for average families. Thanks to our friend Andy Puzder for the latest update:
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4) For EVs – Disasters Come In Threes
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Thursday was not a good day for Electric Vehicles.
Deloitte’s Global Automotive Consumer Study found: "Consumer interest in Internal Combustion Engines (ICE) vehicles is rebounding in some markets surveyed as affordability concerns continue to weigh heavily on forward intentions."
Specifically, in the United States, 67% of consumers said they prefer an internal combustion engine in their next vehicle purchase – up from 58% last year. Just 6% prefer pure EVs and 21% prefer hybrids:
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Then Hertz, the largest car rental company, announced it is holding a fire sale on 20,000 EVs that rental drivers don’t want to rent. The company took a $245 million loss on the EVs.
“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said. “Efforts to wrestle it down proved to be more challenging.”
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Then to top it all off, an electric double-decker bus burst into flames in London causing rush hour chaos and what the Daily Mail called “an inferno.” It took three fire engines to put out the blaze.
There you have it folks: the cars and trucks of the future.
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5) Borrowing Was the Single Biggest Revenue Source for Uncle Sam Late Last Year
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Here’s another depressing data point to confirm that we have a borrow-and-spend psychopath in the White House. In the last quarter of FY2023 — the most recent quarter for which we have complete data — the federal government took in more money from borrowing than any other revenue source. Here are the numbers as compiled by our friend Sven Larson, an economist who writes for the European Conservative:
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4th Quarter fy2023 Revenues
- Federal borrowing $835 billion
- Personal income taxes: $521 billion
- Social insurance taxes: $430 billion
- Corporate income taxes: $113 billion
- Taxes on production and imports: $44 billion
- Other sources: $39.2 billion
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6) Bidenomics Is Working – Really
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