While President Joe Biden touted job creation and other apparent economic successes of his “Bidenomics” policies in a Labor Day speech, surveys showed that a growing majority of Americans are living paycheck to paycheck and that most say the economy has deteriorated over the president’s tenure.
The president talked up his economic policies in a speech to union workers in Philadelphia on Monday, while two separate surveys showed that a majority of Americans believe the economy has gotten worse over the past two years.
“This Labor Day we’re celebrating jobs, good-paying jobs, jobs you can raise a family on, union jobs,” President Biden said in a speech to union workers, which follows news that U.S. employers added 187,000 jobs in August.
President Biden went on to highlight his Bidenomics plan that he said created 13.5 million new jobs while taking repeated jabs at former President Donald Trump.
“When the last guy was here, he looked at the world from Park Avenue,” President Biden said. “I look at it from Scranton, Pennsylvania, I look at it from Claymont, Delaware.”
Critics have argued that President Biden’s job creation figure of 13.5 million is exaggerated because a large proportion of that number was simply people returning to work after temporary job cuts at the height of the pandemic, and that the president shouldn’t take credit for the rebound.
“During Biden’s first 30 months in office, just 2.1 million new jobs were created, and by contrast, during my first 30 months in office we created 4.9 million new jobs,” President Trump said in an Aug. 5 speech in South Carolina, in which he pledged to “reverse Bidenomics and restore the trajectory I created toward increasing this country’s financial prosperity.”
The Trump campaign later told PolitiFact, a fact-checking website, that the 2.1 million figure—as opposed to President Biden’s claim of 13.5 million—was derived by excluding workers returning from pandemic layoffs from the job creation count.
Meanwhile, Steven Cheung, a spokesperson for the Trump presidential campaign, pushed back on President Biden’s attack on President Trump’s record in remarks to CNBC.
“President Trump produced a booming economic recovery, and record low unemployment for African Americans, Hispanic Americans, Asian Americans, and women,” Mr. Cheung told the news organization.
“Joe Biden is the destroyer of America’s jobs and continues to fuel runaway inflation with reckless big government spending. President Trump’s vision for America’s economic revival is lower taxes, bigger paychecks, and more jobs for American workers,” he added.
Biden’s Economy Deteriorating, Most Say
While President Biden was in Philadelphia discussing his economic policies, a new survey from The Wall Street Journal showed that a majority (58 percent) of U.S. voters said the economy has gotten worse over the past two years.
Around 75 percent of Americans said that inflation is headed in the wrong direction, the survey also showed, which dovetails with the latest government data that a key inflation gauge favored by the Federal Reserve indicated price pressures accelerating.
At the same time, 61 percent of adults said they were living paycheck to paycheck as of July, according to a separate survey from personal finance site PYMNTS and LendingClub, an online lender. That’s up from 59 percent who said the same thing around the same time last year.
Higher-earning households are also feeling the financial squeeze, with 44 percent of those earning over $100,000 per year saying they were living paycheck to paycheck. That figure was 78 percent among those earning under $50,000, and 65 percent for those earning between $50,000 and $100,000, the survey showed.
Other recent surveys indicate that Americans continue to feel the pain of high prices.
According to a Bankrate survey in July, 72 percent of Americans don’t feel financially secure. Among them, 63 percent say that high inflation is making it hard for them to be financially comfortable.
Another survey by Bankrate in June found that 68 percent of Americans are saving less for unexpected situations because of inflation.
Inflation Forces Typical Household to Spend $709 More per Month
Recently, Moody’s Analytics chief economist Mark Zandi calculated that the typical American household was spending a whopping $709 more per month than it was two years ago because of high inflation.
Mr. Zandi’s calculations came in a post on X (formerly known as Twitter) that was remarking on the latest government data on inflation, the Consumer Price Index (CPI).
Inflation, as measured by CPI, came in at 3.2 percent in year-over-year terms in July, up from 3 percent in June and the first increase in the annualized pace of inflation in about a year.
While that’s down from the 9.1 percent peak in June 2022, many consumers continue to reel from the persistently elevated price pressures of the past few years.
“The high inflation of the past two-plus years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did two years ago,” Mr. Zandi wrote in his post.
While Mr. Zandi characterized July’s inflation numbers as “great,” Republicans saw his calculations as yet more proof that President Joe Biden’s economic policies have been fanning the flames of inflation.
“Bidenomics is costing the average family over $700 more per month!” the Wisconsin Republican Party posted on social media.
In its effort to quash inflation, the Federal Reserve has hiked rates since March 2022 at its most aggressive pace since the 1980s.
Even though the pace of inflation has slowed from the 9.1 percent peak in June 2022, experts say progress has been limited.
While the headline pace of CPI inflation came in at 3.2 percent year over year, so-called core inflation—which strips out food and energy from the calculation—came in at 4.7 percent.
The core readings, rather than the headline numbers, are what the Federal Reserve pays attention to most closely when assessing progress in trying to bring inflation down to its target of around 2 percent.
“The decline in core inflation readings from year-ago levels has been much less pronounced and at 4.7 percent remains well above the 2 percent target,” Greg McBride, chief financial analyst at Bankrate, told The Epoch Times in an emailed statement.
Also, the core Personal Consumption Expenditures price index—which is the gauge the Fed relies on most heavily to measure progress against its 2 percent inflation target—rose to 4.2 percent, up from 4.1 percent in June, according to the Bureau of Economic Analysis (BEA).
“Even after a months-long holding pattern to start the year, core inflation readings are showing only modest progress in the right direction,” Mr. McBride said.
About the Author
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education. Article cross-posted from our premium news partners at The Epoch Times.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.