The conversation about the economy is heating up, and it’s not just warm air—it’s getting downright hot! Charles Payne, an economic expert, recently shared his insights on what could happen to the economy if Kamala Harris were to be elected president. Spoiler alert: It’s not looking too rosy, especially for the middle class.
In this ever-changing economic landscape, many believe that a Harris administration would simply continue the trend of recent years. This isn’t just any trend, but one that paints a clear picture of a bifurcated economy. What does that mean? In simple terms, it describes a situation where big businesses are raking in the profits thanks to government support, while everyday folks are left with a real tighten-the-belt scenario. For example, did you know that disposable household income—the money left after paying bills—is at its lowest point ever under the Biden-Harris administration? That’s not something to celebrate.
To make matters worse, the real weekly wages, which account for inflation, have also dropped since Biden took office. Back when Trump was president, the average weekly wage was $393. Today? A disheartening $368. The question on many minds is: how did we get here? Some point fingers at the administration’s decision to flood the economy with money while tightening their grip on it, steering funds mostly into the pockets of the wealthiest Americans and large corporations. It’s like trying to fill a kiddie pool with a garden hose, only to find that the water is draining faster than it’s coming in!
And if Harris were to win? Many fear that this victory would be seen as a clear endorsement for more extreme policies, including the famed Green New Deal and a tendency for picking economic winners and losers. This could extinguish the so-called “animal spirits” of the American people—the drive and determination that spur individuals to innovate and succeed. Payne reminds us that the essence of what made America great was that anyone, regardless of where they start, could work their way toward success. Could all this be about to change?
Looking ahead, there’s concern that a massive recession could strike sooner rather than later. Some analysts suggest we could see the ripple effects as early as next year. With wealth increasingly concentrated among a small elite, the average American’s voice may continue to diminish. It’s a prospect that is enough to raise eyebrows and set tongues wagging in very concerned circles.
So, as the economy remains a hot topic, many Americans are left asking questions. Can we pull ourselves up by our bootstraps in the face of government policies that seem stacked against us? Will the middle class have to weather another storm? Only time will tell, but one thing is certain: the stakes are high, and the effects could be felt for generations to come. Stay tuned as this economic saga unfolds!
