Back in 1992, Bill Clinton, the Democratic nominee for president, famously addressed a voter inquiry about the impact of the national debt on his personal life. Clinton’s response was widely paraphrased as, “I empathize with your pain.”

        Whether Bill was genuinely expressing empathy or not, his words struck a chord.

        Presently, President Joe Biden is seeking re-election with a different narrative: Cease the grievances. Everything is going smoothly. Some of his supporters in Congress and the compliant individuals in the media are now arguing that the issue does not lie in Biden’s unsuccessful policies; rather, it’s that Americans are too ignorant to comprehend the current favorable circumstances.

        Gail Collins from The New York Times recently grumbled, “I understand that politicians aren’t expected to extol the brilliance of people’s lives, but it’s strange that the nation seems oblivious to the positive developments. … Prices have either stabilized or are declining.”

        She might have just as well used a megaphone to announce: Pay attention, all you common folks, Bidenomics represents the pinnacle of prosperity. You simply need to adapt to 20% higher costs, trillion-dollar deficits, diminishing buying power, poorly performing schools, rising crime rates, an unsecured border, and $4-per-gallon gasoline.

        Most individuals boasting about the robust economy are ensconced within the Washington elite or comfortably nested within university staff lounges.

        The notable disparity between the ruling class and genuine Americans engaged in laborious blue-collar positions or initiating their careers has rarely been more evident. Even David Axelrod, a former senior advisor to President Barack Obama, cautioned Biden against hyping an economy that has overlooked more than half of the American populace. “It irritates me when he does that,” expressed Axelrod.

        Such actions also render Biden appear severely detached from everyday America. When close to two-thirds of Americans report dissatisfaction with their personal financial situations, the “don’t fret, stay joyful” cliché is not the expected response from most voters.

        The majority of Americans have observed their wages and earnings fall behind the inflation rate for over three years now. Under Biden, real wages have plummeted by almost 4%. Despite indications last year that the inflation rate was dropping to 3%, it is now gravitating back towards approximately 5% on an annual basis. Various methods exist to gauge the decrease in real disposable income for middle-class households, but the most accurate estimate indicates a decrease of approximately $2,500 in purchasing power since Biden took office.

        Even though employment has been robust under Biden, with more job opportunities than individuals seeking work, signs of strain are emerging. Part-time work is on the rise, and full-time job figures have been detrimental in the last couple of months. Hence, hourly wages are on an upward trajectory even as weekly earnings are declining.

        Biden’s tactic is to attribute the feeble economy to Trump, “my predecessor” – a considerable stretch considering that Trump had already been reviving the economy from the COVID-19 recession six months prior to Biden assuming the presidency. Inflation stood at 1.7% when Biden’s predecessor vacated office, however, after 18 months and $4 trillion of debt accumulation, the consumer price index had shot up to 9.1%.

        If this represents “dawn in America,” a sense of apprehension pervades regarding the events in the afternoon. To echo James Carville, “it’s still the economy, stupid.” If Biden intends to vie for re-election based on this economy, the responsibility is solely his.

        Stephen Moore serves as a visiting fellow at the Heritage Foundation and acts as a chief economic consultant to Donald Trump. His latest publication is: “Govzilla: How the Unyielding Enlargement of Government Is Consuming Our Economy.”