The REAL Math of Bidenomics


by Mark Schwendau

If you still believe every word from Joe Biden, the economy under his administration is great.  In fact, it is so great he has claimed those around him have named it Bidenomics where you grow the American economy from the “middle out.”

But a new poll from Monmouth University offers all is not rosy in the American economic landscape. In fact, some 34% of Americans approve of Biden’s handling of inflation, while 62% do not. The same poll offers that when it comes to the U.S. post-pandemic recovery, 30% of Americans think the economy of the United States is doing better than other countries while 34% believe we are worse off.

Meanwhile, a Reuters/IPSOS poll shows 33% of Americans approve of Biden’s handling of the U.S. economy, while 58% do not. Similarly, that same poll offers only 28% of Americans approve of Biden’s handling of inflation, while 62% do not.

Biden has been touting an increase in wages as part of Bidenomics. Biden recently tweeted this month:

“Right now, real wages for the average American worker are higher than it was before the pandemic, with lower-wage workers seeing the largest gains. That’s Bidenomics.”

Twitter Notes came down to do a rapid and immediate fact check as follows:

“The tweet’s claim about real wages contains a factual error.”

Twitter explained further:

“On 3/15/20, when US COVID lockdowns began, real wages adjusted for inflation (AFI) were $11.15. As of 7/16/23, real wages AFI are $11.05. Real wages AFI remain lower (not higher) than before the pandemic.”

Twitter used the date of 7/16/23 as the date of the Biden tweet.

Further to this point, the Bureau of Labor Statistics (BLS) reported to an information request by Fox News that real weekly earnings dropped under the Joe Biden administration by 4.6% since he took office in January of 2021 when adjusted for inflation.

Another falsehood of Biden is that inflation is coming under control. While that could be said for the last 12 months of his administration, of the entire 26 months he has been in office, inflation has been in the double digits up to 16%! Again, this is according to the BLS math. This is math from the consumer price index (CPI).

The consumer price index is measured by several constant benchmarks, some of which show the following since Joe Biden took office; Food is up 19.6%, Energy is up 33.1%, Gasoline 42.7%, Used Cars up 34.5%, and Airline tickets are up 41.6%.

Another outright lie of Biden is he claims he cut the national budget deficit by $1.7 trillion. Even the Washington Post called this claim “highly misleading” and later labeled it a “bottomless Pinocchio.” This year alone, the budget gap is predicted to increase by $2.25 trillion.

Biden also has bragged about Bidenomic’s creation of 800,000 new manufacturing jobs. The fact of the matter if the 13 million people working in manufacturing is virtually identical to the pre-pandemic math numbers under President Donald Trump. In other words, there was no increase in jobs but rather a resuming of old positions after the pandemic.

The Heritage Foundation also offers some math to their take on Bidenomics with their finding that under Biden the average American’s annual household income fell by $7,400.

We found a page on the Donald Trump 2024 campaign website that offers the following math notes on the Bidenomics economy with resource footnotes:

– Through Biden’s energy-crippling policies, Americans suffered the highest national average price of gasoline ever recorded in American history.[1]

– Biden’s runaway spending for his radical agenda caused inflation to reach 14.9%.[2]

– America has experienced three of the four worst bank failures in our nation’s history under Biden.[3]

– 70% of Americans reported feeling financially stressed under Biden [4], and 58% of Americans reported living paycheck to paycheck.[5]

– Nearly 25 million Americans are behind on their credit cards, auto loans, or personal loans – a number not seen since 2009.[6]

– 54 percent of Americans reported using savings to pay for everyday expenses such as groceries and rent.[7]

– Americans have lost over $10,000 on average for the increased cost of living since “Bidenomics” began.[8]

– A record number of Americans said they are worse off financially since Biden became president.[9]

– According to a Harvard CAPS-Harris poll,[10] 74% say their financial situation is not improving, with almost half saying their financial situation is getting worse under “Bidenomics.”

– The average American family lost $7,100 in purchasing power under Biden due to inflation and high-interest rates.[11]

– According to a recent Fox News poll, 83% of voters say the economy is in only fair or poor shape.[12] Overall, a large 90% majority is concerned about inflation, including 85% of Democrats.

– Americans have lost, on average, over $2,250 by paying increased energy costs since Biden took office.[13]

– Gas prices are up more than $1 per gallon since Biden took office.[14]

– 1 in 4 Americans have cut back on retirement savings because of inflation.[15]

– Under “Bidenomics,” nearly 20 million households are behind on utility bills.[16]

– Savings are down, real wages are down, and economic confidence is down.[17][18][19]

– According to a recent CNN poll conducted by SSRS, 66% of Americans disapprove of how Biden’s handled the economy, with 76% describing the economy as in poor shape.[20]


Copyright © 2023 by Mark S. Schwendau


Mark S. Schwendau is a retired technology professor who has always had a sideline in news-editorial writing where his byline has been, “Bringing little known news to people who simply want to know the truth.”  He is a Christian conservative who God cast to be a realist.  His website is www.IDrawIWrite.Tech.



  1. Uh-oh. Something went wrong when I tried to post a pic and I can’t get rid of it! Please delete this comment!


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