A lesson in economics

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NEWS AND OPINION:

President Biden recently declared in an emphatic tweet that real wages for the average American worker are higher than they were before the coronavirus hit in 2019.

“That’s Bidenomics,” the president said in his message.

Some beg to differ.



“Besides being factually inaccurate, Biden notably does not use when he took office as his benchmark — the usual benchmark when you’re actually trying to determine the impact of someone’s policies. Why? Because in reality, prices are up 16.6% and real wages are down 3% since Biden took office,” countered Tommy Pigott, rapid response director for the Republican National Committee, in a written statement shared with the Beltway.

“And he’s not alone in making these misleading claims. His top economic advisor Jared Bernstein also ignores that wages have declined since Biden took office, and House Democrat Leader Hakeem Jeffries has falsely claimed prices are lower and wages are higher under Biden. Democrats don’t have a record on which they can run, so now they are just making things up. That’s Bidenomics,” he advised.

CAMPAIGN PHRASE OF NOTE

“Welcome to Florida: No. 1 Destination for U-Hauls from NY and CA.”

This snappy phrase comes from Florida State Rep. Alex Andrade, a conservative Republican who is running for re-election in Florida’s House District 2. He is also a firm supporter of “conservative, pro-military, pro-life and small government” legislation, according to his campaign site.

Find it at VoteAndrade.com.

MEANWHILE IN IOWA

The “Fair Side Chats” will get underway shortly.

This nifty play on the phrase “fireside chats” comes from Iowa Gov. Kim Reynolds, who has planned some significant conversations in the near future.

She plans to host “Fair-Side Chats” with Republican presidential candidates at the Iowa State Fair from Aug. 10-20 according to her office, staged at JR’s South Pork Ranch — a major eatery at the fair itself.

And we do mean major. Their menu includes such selections as a Pork Belly Burnt Ends Sandwich and Bacon Pickle Mac ’n’ Cheese.

“The governor’s office said the one-on-one interviews will go beyond the issues, allowing fairgoers to see who the candidates really are,” noted KCRG, the local ABC affiliate.

“I couldn’t be more excited to host the presidential candidates at our world-class Iowa State Fair, showcasing all we have to offer,” Ms. Reynolds said in a statement.

“These one-on-one ‘Fair-Side Chats’ offer the candidates an incredible opportunity to share their message directly with Iowans. With just 6 months to go until the Iowa Caucus, it’s crunch time,” she declared.

The governor’s office did not say specifically which of the candidates would be included in the series of interviews or whether any had chosen not to participate.

ANOTHER CHAT

Florida Gov. Ron DeSantis, meanwhile, will sit down with CNN host Jake Tapper on Tuesday following a campaign event in Columbia, South Carolina. The interview airs on “The Lead” at 4 p.m. ET.

“National polling shows DeSantis far ahead of most of the GOP primary field but trailing former President Donald Trump considerably.

DeSantis’ campaign has resisted calls to dramatically change course in his campaign, instead eyeing the first GOP presidential debate in late August as his opportunity to alter the trajectory of the race,” CNN noted in its report.

“On the campaign trail, DeSantis has projected himself as a more conservative alternative to Trump on several issues, including abortion and guns. He has touted Florida’s handling of the COVID-19 pandemic and measures he’s signed that LGBTQ advocates have criticized,” the network said.

“In the first major policy proposal of his presidential campaign, DeSantis last month proposed a sweeping crackdown on illegal immigration, including sending the US military to the border and mass detention and deportation of undocumented people,” CNN advised.

THE CLASS ACT

One annual ritual is already underway, and it could be a doozy.

Back-to-school spending in the U.S. is expected to reach an unparalleled $41.5 billion this year, up from $36.9 billion in 2022 and the previous high of $37.1 billion in 2021. Back-to-college spending is expected to hit $94 billion, about $20 billion more than last year’s record. So says the National Retail Federation, which tracks the trends of this phenomenon.

Families with children in elementary through high school plan to spend an average of $890.07 on back-to-school items this year, approximately $25 more than last year’s record of $864.35.

“The increase in expected spending is primarily driven by more demand for electronics, as 69% of back-to-school shoppers expect to buy electronics or other computer-related accessories this year, up from 65% last year and the highest on record. Total spending on electronics is expected to reach a record $15.2 billion, the organization said in a statement released Thursday.

College students and their families, meanwhile, are expected to spend an average of $1,366.95 per person, up from $1,199.43 last year, and a new high from the previous record of $1,200.32 in 2021. Since 2019, back-to-college spending has nearly doubled, the new research said.

 “Back-to-class shopping is one of the most important consumer shopping occasions of the year. Our research for 2023 shows American consumers are eager to jumpstart their back-to-school and college purchases early,” the federation’s president and CEO Matthew Shay said in a statement.

The organization bases its spending projections and updates on a survey of 7,843 U.S. adults that inquired about spending plans, perceptions about prices and other issues. The survey was conducted June 30-July 6.

POLL DU JOUR

25% of likely U.S. voters say that Fox News is the broadcast news organization they “trust the most.”

25% say they trust “none” of the broadcast news organizations.

13% say they trust CNN, 12% trust MSNBC.

7% trust NBC News, 7% trust ABC News.

6% trust CBS News.

Source: A Rasmussen Reports poll of 1,005 likely U.S. voters conducted July 5-9 and released Friday.

Contact Jennifer Harper at jharper@washingtonitmes.com.

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