By John Ubaldi, “Ubaldi Reports”

As the presidential election moves into high gear, President Biden has been touting his administration’s economic record, despite the fact the American people have a far different perspective on the U.S. economy; their belief is the U.S. economy is failing them. 

Biden continues to signal to the American people how great the economy is and has even stated that they just don’t know how good the economy really is. 

Even the media which fails in its journalistic ethics of being impartial regurgitates the talking points of the administration, with MSNBC host Stephanie Ruhle while interviewing the president of Chicago’s Federal Reserve wants the president of the Chicago Federal Reserve to inform the public how they are better off economically, and far better off than they think. 

Ruhle stated, “We need an economic explainer,” the MSNBC host said. “People are confused, they’re exhausted, but they’re also doing quite well.”  

Even Jared Bernstein, who currently serves as the Chair of the Council of Economic Advisers, states the economy is very strong. Unfortunately, this is not what the American people are feeling.

The administration can consistently mention how the unemployment rate is under 4%, how wages have risen, but to the American people all they see when they go to the grocery store is higher prices, when they pay their utility bill, it’s higher each month.  

Rent is continually rising everywhere with no end in sight.

Higher mortgage rates then was the case four years ago. To many the ability to buy a home is now out of reach for millions of Americans.   

When they commute to work, gas is higher than four years ago!

Try buying a new car or a used car, prices are higher coupled with high interest rates!

Biden’s answer is to force feed the American public on the need to buy an electric car that is beyond the reach of ordinary Americans. 

More Americans are utilizing credit cards to pay for ordinary bills, late payments are now the norm rather than the exception, coupled with record amounts of credit card delinquencies than ever before.

Inflation is significantly higher than it was four years ago. Nobody believes Biden when he consistently states how better off Americans are, coupled with the fact when he falsely mentions inflation was 9% when he assumed office, when in fact it was only 1.4%.

How he created 15 million new jobs, when the Bureau of Labor Statistics noted these were jobs that were lost during a once a lifetime pandemic. If you go where we were right before the forced economic shutdown of the country, we are only three million jobs ahead of where we were in February 2020.

Per the Bureau of Labor Statistics, the labor participation is still far below where the U.S. was in February 2020.

Most of the jobs being created by Biden have been in government and in public health, with few full time jobs being created and more part-time employment being added.

If you live in the Washington D.C. bubble the economy may be doing great. MSNBC host Stephanie Ruhle lives in that bubble. 

Just doing a cursory research, Ruhle makes around $700,000 a year and lives in Manhattan, where the average home prices goes for around $1.6 million. 

Washington D.C. elites are doing well, but main street USA is struggling under the yoke of inflation, high prices on just about everything..

Maybe the president would be better served if Jared Bernstein, Chair of the Council of Economic Advisers who advises Biden on all economic issues was a trained economist instead he received his Master’s and PhD in social work. 

Others who serve on the council are trained economists, but have only served in government or academia with no practical business experience in the real world, mainly they are theoretical economists who only practice in theory.

The American people are feeling the impact of Biden’s economic policies, and they are not believing what he is saying because they live in the real world.