Wall Street Journal savages ‘Bidenomics’ for costs of Thanksgiving dinner

The Wall Street Journal editorial board torched the Biden administration and the media for telling Americans they should be thankful for “Bidenomics” when the inflation numbers tell a different story. 

“The latest White House lecture is that inflation has fallen from 9.1% in June 2022 to 3.2% last month,” the editorial board wrote in an article headlined, “President Biden’s Thanksgiving Dinner.” 

The board continued: “But disinflation—inflation rising at a slower rate—isn’t the same as deflation, which is falling prices. Thanksgiving dinner prices are rising less fast than they did in the last two years, but they’re still rising.”

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The Wall Street Journal editorial board torched the Biden administration and the media for telling Americans they should be thankful for “Bidenomics” when the inflation numbers tell a completely different story.  (CQ)

Many of those cost increases are affecting basic food items on the Thanksgiving table. 

“The price index for poultry items that includes turkey is up nearly 30% compared to November 2020,” the board wrote. “Turkeys may not be able to soar but their prices can.” Prices for potatoes are up “more than 12% since Thanksgiving 2020” and rolls are up more than “27% from three years ago, while the butter to spread on them has risen 25%.” Regular unleaded gasoline is about “70% more expensive than it was three years ago.” 

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The Biden administration has launched a media blitz in advance of Thanksgiving to tout Bidenomics and lower inflation.  (Kent Nishimura/Bloomberg via Getty Images)

These increases to the cost of living for millions of Americans have also come as “inflation-adjusted weekly earnings have fallen roughly 5%” since 2020. 

“Amid all this, Mr. Biden’s low approval ratings are the least mysterious mystery in recent memory,” the board wrote.

The Biden administration has launched a media blitz in advance of Thanksgiving to tout Bidenomics and lower inflation. 

Biden energy research advisor Amos Hochstein claimed that “we’re at the lowest [gas] prices now since Thanksgiving of 2020,” although critics lashed out at what they viewed as a deliberately arbitrary metric.

Liberal media pundits have also claimed that the prices for a Thanksgiving dinner have decreased. 

“72% of Americans, according to a recent survey, thought the cost of Thanksgiving would actually be higher this year,” MSNBC analyst and financier Steven Rattner said on Wednesday. “In fact, the cost of Thanksgiving, according to the Farm Bureau and the Bureau of Labor Statistics, is going to come down slightly. It’s going to go from $64.05 last year, to $61.17 this year.” 

“Now in fairness, we did have a run-up in the kind of COVID era,” Rattner added. “It was down as low as $49. But still, this is good news.” 

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