Joe Biden’s policies are working, at least on paper, but many average citizens only see despair
There’s been a debate lately in the United States about the supposed success of President Joe Biden’s economic policies and the “vibecession” (a perceived recession based on a pessimistic outlook on the economy, term coined by financial influencer Kyla Scanlon) apparently taking place, which has been led by one X (formerly Twitter) user named Will Stancil.
Will argues that Bidenomics – the collective name for the current administration’s economic strategy, which is directed ostensibly at supporting the working class, reducing income inequality, and strengthening the social safety net – is working. The US economy is red-hot and, on the back of historically low unemployment, labor finally has the power to push for higher wages and fairer contracts, which ought to be making people’s lives better.
But, as is always the case, the internet disagrees, and people’s lived experience contradicts the hard numbers. X users shouted Stancil down with the fact that property prices are through the roof, so much so that Generation Z can probably never even fathom home ownership. Others are pointing to the fact that most Americans still live paycheck-to-paycheck, which means that any semi-large financial event could see them on the streets. .....more below
