Americans are accustomed to a prosperous, confident and happy State of the Union. All right, that's their normal attitude, but these are not normal times. Under Joe Biden, the American condition looks like its unhappy, somewhat demoralized and even fearful.
Now, a recent poll shows 43% believe Joe Biden policies have actually hurt them and the same poll shows that the lives of working class Blacks, Latinos, Whites, women, other groups, they're actually better off under Donald Trump than they were under Joe Biden.
Biden has spent $6 trillion of Democratic pork on climate and welfare and woke schools and student debt and other crazy boondoggles, but all that's done is jacked up inflation. It hasn't made people any happier. High prices for basic goods like groceries and gasoline or home mortgages, all that's been killing off the middle class.
LAYOFFS SURGED IN FEBRUARY TO HIGHEST LEVEL SINCE 2009
Under Joe Biden, the workforce has taken a pay cut. Listen to this. From a real weekly wage of $399 when Joe Biden took office to a decline of $380 most recently. That is a drop of 4.9% a pay cut. Under President Trump over the same period, they had a pay hike of over 9%. Right.
Given a choice, I think folks would rather have a pay increase than a pay cut. Meanwhile, illegal immigrant crime is causing fear in the streets, towns and cities across the country. Fear is not the natural state for America, but now we're told Mr. Biden wants to raise taxes on successful companies and entrepreneurs. That's just more left wing, progressive, democratic pap. All it's going to do is depress the economy.
All it's going to do is reduce tax revenues and ironically, Donald Trump's successful tax cuts are probably the biggest source of economic stimulus in the economy today. Go figure. Anyway, it's all been driven by after tax profits from Trump's tax cuts. Anyway, Joe Biden wants to squelch all that. It is just the stupidest thing I've ever seen and finally, how is this a business about shrinkflation and cookie monsters, this is about Biden inflation, not serious business.
That's all there is to it, but remember, liberals always hate business, even though business creates jobs and business creates higher wages. Meanwhile, countries bombing each other all over the world right now in the U.S. looks like a helpless, powerless bystander.
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Finally, Americans are sick and tired of being told what to do or what not to do, what appliances, what cars to buy or what they can't buy, and I think they are sick of it. That's what the collectivist government or big government socialism does to you. A bunch of overeducated, permanent bureaucrats in Washington, DC trying to dictate how ordinary working folks can live their lives in mainstream America.
People are fed up with it. They are sick of it. The question is whether Joe Biden's going to do anything to change it. Well, folks, don't hold your breath on that one, but there is a guy down in Mar-A-Lago, Florida, who's just itching for a second bite out of the apple. Least that's what I hear and that is my riff.
This article is adapted from Larry Kudlow’s opening commentary on the March 7, 2024, edition of "Kudlow."
