While respectable inventory and sales increases were reported for wholesalers in America under the Biden-Harris administration, it turns out that the supposed increases were almost entirely attributable to inflation and its consequent higher prices.
If there is one thing we learned during the Biden administration, it is that the feds manipulate data and politicians outright lie about numbers to make Democrat policymaking look better. We the People knew we couldn’t find jobs, were paying much higher prices at the grocery store, and couldn’t afford gas, but we kept being told that the economy was booming, many jobs were being added, and sales were thriving. That, of course, was pure balderdash. And an economist has just exposed yet another myth of Bidenomics.
Heritage Foundation economist EJ Antoni, ever with his finger on the pulse, shared data he compiled from the Bureau of Labor Statistics and Census Bureau on March 11. “What a lousy 4 years it has been for wholesalers, whose sales leaped 25.4% in nominal terms, but 90% of that increase was just inflation,” Antoni explained. He added that “adjusting for prices shows a real increase of merely 2.9% over 4 years, and down 7.0% from the Mar ’22 peak – simply terrible.”
In another post, Antoni added, “A full two-thirds of the increase in inventories at wholesalers during the 4 years of Biden was just inflation pushing up prices, making those inventories more expensive; it’s the difference b[etween] just marking things up on a spreadsheet and more actual physical stuff.”
Recommended: Christian Persecution Still Rampant Globally
The stores weren’t adding inventory so much as their inventory was perforce becoming more expensive, and thus “worth more” on paper even as it became less affordable for the average consumer.
Antoni also stated, “Revised data for Dec[ember] combined [with] the initial Jan[uary] estimate for wholesale inventories show no increase after adjusting for prices; even at the very end of the Biden admin, inflation was still running strong.” Inflation is ultimately the number one issue that lost the Democrats the 2024 election and gave Donald Trump and the Republicans such a landslide victory.
The Democrats were trying to hide the true scope of the economic and labor market crisis under Joe Biden and Kamala Harris, but the numbers (when not being manipulated) undermine the propaganda. Antoni mentioned another damning indictment of Bidenomics: “The Biden admin told us that hourly wages grew last year in Q3 (1.6%), even after adjusting for inflation, but those data are once again revised down to show an inflation-adjusted loss (-0.1%); in other words, you got poorer…again.” Real wages consistently dropped under Biden.
Related: Trump’s Commerce Pick: Tariffs Will Make US Money, Protect US Workers
The Trump administration has a hard road ahead to ameliorate the economic crisis. Hopefully, instead of continuing massive government spending, it will cut spending and double down on its touted policies of tariffing our enemies/competitors and encouraging a manufacturing boom in America, thus bringing new jobs and new life to the economy.
Help us continue to expose Democrat failures. Join PJ Media VIP and use promo code FIGHT to get 60% off your membership.
