{"id":107359,"date":"2025-08-19T07:13:11","date_gmt":"2025-08-19T11:13:11","guid":{"rendered":"http:\/\/www.owegopennysaver.com\/PS\/?p=107359"},"modified":"2025-08-19T07:13:11","modified_gmt":"2025-08-19T11:13:11","slug":"letter-it-was-bad-news-for-bidenomics","status":"publish","type":"post","link":"http:\/\/www.owegopennysaver.com\/PS\/2025\/08\/19\/letter-it-was-bad-news-for-bidenomics\/","title":{"rendered":"Letter: It was bad news for Bidenomics"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Dear Editor,<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Heritage Foundation economist Stephen Moore had tremendous news for President Donald Trump and the American people. But he also has some bad news for anyone singing the praises of Bidenomics.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Moore made an appearance alongside&nbsp;Trump&nbsp;for a news conference in the Oval Office to give his report on the economy\u2019s performance under the first Trump term, former President Joe Biden\u2019s term, and the first five months of Trump\u2019s second term.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As previously stated, some of this news is great for Trump \u2014 while other bits of information don\u2019t reflect kindly on the former president.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Moore started by telling the room that in the final two years of Biden\u2019s term, the Bureau of Labor Statistics overshot jobs created by an astounding 1.5 million. \u201cThat\u2019s a gigantic error,\u201d Moore told Trump, who quipped, \u201cIt might not have been.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Even when the COVID-19 pandemic caused Trump\u2019s performance in that category to dip, it was still substantially better than Biden\u2019s. Under Trump, average real income gains for families were $6,400. Biden only managed $551.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Compared to&nbsp;Biden, Moore explained, \u201cMr. President, you gained ten times more income for the average family than Joe Biden, and it\u2019s because of your policies.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The bad news for Biden only continued as Moore explained that every income group did better under Trump\u2019s first term compared to Biden\u2019s.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cThe rich were the only group that did better under Biden, which is ironic because Biden kept saying he was trying to get rid of income inequality. He made income inequality worse, not better. It was President Trump who reduced income&nbsp;inequality,\u201d Moore concluded.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When breaking it down in terms of numbers, the 25th percentile gained around $4,000 under Trump. The&nbsp;middle class&nbsp;gained $6,400, and the wealthiest bracket gained almost $10,000. \u201cYou can see every income group did better under Trump than Biden.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sincerely,<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Jim Outman&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Owego, New York<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Editor, Heritage Foundation economist Stephen Moore had tremendous news for President Donald Trump and the American people. But he also has some bad news&#8230;<\/p>\n","protected":false},"author":5,"featured_media":82352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-107359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-letters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Letter: It was bad news for Bidenomics - Owego Pennysaver Press<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.owegopennysaver.com\/PS\/2025\/08\/19\/letter-it-was-bad-news-for-bidenomics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Letter: It was bad news for Bidenomics - Owego Pennysaver Press\" \/>\n<meta property=\"og:description\" content=\"Dear Editor, Heritage Foundation economist Stephen Moore had tremendous news for President Donald Trump and the American people. 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