Important Takeaways:
- Bidenomics: Fast Food Costs Soar — McChicken up 199%, Frosty up 111%, Taco Bell Burrito up 132%
- Popeyes, Taco Bell, and Chipotle raised prices by at least 75 percent, according to the Food Institute:
- Popeyes Regular Mashed Potatoes & Gravy (+134 percent)
- Taco Bell’s Beefy 5-Layer Burrito (+132 percent)
- Wendy’s Small Frosty (+111 percent)
- Taco Bell Chalupa Supreme (+110 percent)
- Burger King Small Icee (+101 percent)
- Taco Bell Cheesy Gordita Crunch (+100 percent)
- McDonalds McChicken (+199%)
- Chick-fil-A raised prices by 10.6 percent between mid-February and mid-April, Gordon Haskett Research Advisors estimated, along with Starbucks by 7.8 percent and Shake Shack by 7.7 percent.
- A majority of voters (51 percent) believe their financial position is worse off under Biden’s economic policies, a Financial Times/Michigan Ross poll recently showed. The poll also found damaging results for Biden’s reelection chances
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Important Takeaways:
- A majority of Americans think that the U.S. economy is heading in the wrong direction, according to an exclusive poll for Newsweek, with many blaming Joe Biden’s economic agenda—Bidenomics—for it.
- But experts told Newsweek that the U.S. economy is doing relatively well, especially when compared to most other Western economies. The negative outlook on the economy that many Americans hold is likely linked to the fact that the economic picture is objectively complicated and hard to understand right now.
- Their widespread pessimism is reflected in the results of a Redfield & Wilton Strategies poll conducted on behalf of Newsweek on April 11. According to the survey, some 50 percent of Americans believe that the U.S. economy is heading in the wrong direction, while only 25 percent said it is going in the right direction.
- Americans are also negative about their own financial situation. Some 42 percent of respondents said their financial situation has worsened in the last year. Only 26 percent said it has improved, while 32 percent said it has stayed the same.
- Some 47 percent of Americans said they were now financially worse off than they were three years before, against 26 percent who said they were better off and 27 percent who said they were about the same. Some 45 percent said they were now worse off than before the pandemic, while 28 percent said they were better off and 27 percent were about the same.
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Important Takeaways:
- Joe Did That: Inflation Costs Americans an Extra $1K Monthly
- Thanks to the wonders of Bidenomics, the average American is spending over a thousand dollars extra a month. Fortunately, Biden is focused on important things — like funding jihad supporters in Gaza and paying off student loans with taxpayer money the government cannot spare.
- From Fox Business:
- The typical U.S. household needed to pay $227 more a month in March to purchase the same goods and services it did one year ago because of still-high inflation, according to calculations from Moody’s Analytics chief economist Mark Zandi shared with FOX Business.
- Americans are paying on average $784 more each month compared with the same time two years ago and $1,069 more compared with three years ago, before the inflation crisis began… when compared with January 2021, shortly before the inflation crisis began, prices remain up a stunning 18.94%.
- Food, child care, and rent — the necessities — are devastatingly expensive under the Biden administration. Fox quoted Bright MLS chief economist Lisa Sturtevant, “Inflation has not just stalled, but it is moving in the wrong direction.” Unfortunately, low-income Americans — those who can least afford to spend more — are of course hardest hit by rising costs.
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Important Takeaways:
- Another One Bites the Dust With Bidenomics: Family Dollar and Dollar Tree to Close 1,000 Stores
- As my colleague Bonchie pointed out earlier Wednesday, if Sleepy Joe and crew expected a bounce from the State of the Union yell fest, what they received was a thud. Panic Time for Democrats As Joe Biden Gets No Bump From Terrible State of the Union Speech
- Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.
- Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire.
- Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire
- Inflation gave Team Bidenomics a swift kick in the pants. It rose by 0.4% in February, the highest monthly increase since September, pushing the year-to-year rate to 3.2%, compared to 3.1% for the January year-to-year rate. Economists had expected a 3.1% year-to-year rate in February.
- The White House is pushing the story that “volatile” gasoline prices—and probably predatory price-gouging by gas station owners—are to blame, but the data say something different. The Core Consumer Price Index has increased steadily for seven months.
- A couple more increases like this over the next couple of months leading into the summer are probably going to put some doubt into whether or not the Fed will reduce interest rates in any way
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Important Takeaways:
- Just 14% of Americans think Biden has made them better off as president: Another dire poll shows 70% believe Bidenomics has ‘hurt’ them
- When asked what was causing them most financial stress, some 82 percent of those surveyed said price increases.
- ‘Every group — Democrats, Republicans and independents — list rising prices as by far the biggest economic threat . . . and the biggest source of financial stress,’ said Erik Gordon, a professor at Michigan’s Ross School.
- ‘That is bad news for Biden, and the more so considering how little he can do to reverse the perception of prices before election day.’
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