Americans Are Worse Off Than Four Years Ago

Alfredo Ortiz fact-checks Biden’s State of the Union economic claims and explains the state of the kitchen-table issues that actually matter to ordinary Americans in The Daily Caller. 

• Biden boasted about job creation even though the bulk of these jobs are merely backfilled positions post-pandemic.
• He said he cut the deficit even though the deficit is on track to be $2 trillion this year.
• He claimed inflation is coming down when the most recent data shows it’s rising again.
• He blamed shrinkflation on businesses when, in reality, cutting product sizes is simply a way to maintain margins in a world of skyrocketing input costs.
• Biden said the Tax Cuts and Jobs Act added to the debt and helped the 1%, but in reality, tax revenues are up 33% since the TCJA passed, and the top 1% are paying a greater share of taxes than ever before.
• He claimed small businesses are strong, but JCN’s national SBIQ poll of small business owners finds nearly two-thirds of respondents say economic conditions could force them to close.