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Biden has been bad for Bahamas

EDITOR, The Tribune.

A COLLEAGUE of mine told me that his aunt, who has been residing in New York since the early 1980s, complained bitterly to him about the soaring costs of food in her area. She also informed him that other New Yorkers are also complaining about the inflation crisis. She is black. Unfortunately, the majority of African Americans and other ethnic minorities support the Democratic Party. They associate the Republican Party with the white oligarchy in the United States. This is an all too common perception that continues to hurt the GOP. Ironically, the Free National Movement suffers from the same public relations narrative.

Be that as it may, the Supreme Court in North America ruled that the presumptive GOP presidential nominee, Donald Trump, should not be excluded from the Colorado ballot in the Super Tuesday Primary run-offs this week. Trump’s only serious challenger is former South Carolina Governor Nikki Haley, who’s expected to get steamrolled. Trump currently has 244 delegates to Haley’s 43. He needs 1,215 delegates to secure the GOP nomination. I see no reason why he shouldn’t get it. There’s a reason why the Democratic Party has used the judiciary to block Trump’s nomination. That’s the only way they can beat him. And so it’s beginning to look like a rematch of the 2020 Presidential Election. The Bahamian diaspora living in the US can now make an informed decision as to who to support in November. They’ve lived under both presidencies, which makes this important electoral contest all the more unique.

The question the Bahamian diaspora must ask itself: under whose presidency has it fared better economically? Current President Joe Biden’s Presidential Inflation Rate is a staggering 17.3 percent. In December 2019, Trump’s PIR was just 5.8 percent. When Biden assumed office in January 2021, he inherited an inflation rate of 1.4 percent. The inflation rate had been under 3 percent for 109 straight months from that point. Three months into his tenure in May 2021, the rate had climbed to 5 percent. The inflation rate had remained at 5 percent or higher for 23 months. Between December 2021 and November 2022, it was at 7 percent or higher. Under Biden, whose policies have harmed the domestic oil industry in North America, gas inflation is pegged at 35.1 percent. Under Trump it was 22 percent. Electricity is at 25.1 under Biden. Under Trump it was just 2.2 percent. This means that the average electric bill in the US is nearly 23 percent higher under Biden’s disastrous stewardship of the American economy than it was under his predecessor. Food inflation under Biden is 20.1 percent. This has translated to higher food prices in The Bahamas, which imports over 90 percent of its food items from the US. A 30 ounce jar of Hellman’s Mayonnaise is over $10 in most food stores. A loaf of bread is over $6 in many food stores. A dozen eggs is averaging over $5. In some instances, $7 and $8.

A relative told me that the average price for a MacDonald’s sandwich combo is averaging over $9 in the US. In the Family Islands, the inflation crisis is much worse. Bidenomics and its attendant American Rescue Plan have been utterly disastrous for the average American citizen -- and Bahamians as well. The Biden administration is eerily similar to the Jimmy Carter administration. High inflation dogged that administration also. Biden has simply not been good for The Bahamas. His policies have eviscerated the middle-class. I am appealing to the Bahamian diaspora to please make the right choice in ending this unsustainable nightmare. The Bahamas simply cannot take another four years of Bidenomics.

KEVIN EVANS

Freeport,

Grand Bahamas

March 4, 2024.

Comments

hrysippus 1 month, 3 weeks ago

For those who are interested in the truth; inflation in the US is currently 3.1%. People who rely on that right wing US tv media station for their news are very often fed a distorted view of current affairs. Under the Biden administration the Bahamas economy has done well, unprecedented real estate sales and new records in tourist arrivals. In the US the stock market reached an all time high on Monday and unemployment is historically low. It is puzzling that the letter writer seems to have missed all this. The rise in food prices and the increased cost of fossil fuel are both worldwide and caused by the Russian invasion of Ukraine and nothing to do with President Joe Biden's Administration.

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LastManStanding 1 month, 3 weeks ago

Few points of contention:

1.) Wages have just recently started catching up with the past few years of soaring inflation. I would even stick my head out and say that they haven't yet caught up in the Bahamas, but I don't have the numbers to study. Even now 3.1% in the US is above the ideal 2% target.

2.) US credit card debt is at an all time high. I also have anecdotal evidence that supports what seems to be that a large number of people are only surviving with their cards maxed out.

3.) Job numbers are being consistently revised downwards and a large portion of those "gains" are people taking second or even third jobs to make ends meet.

4.) The increase in gas prices started well before the invasion of Ukraine, the average actually topped $3.00 in 2021. The invasion may have helped with some of the increase, but the West was the one that tried to one up Russia with sanctions only to buy using India as a middle man anyways. The Russian economy has held up extraordinarily well, even posting growth despite the heavy amount of sanctions, so this was a complete foreign policy failure (and big benefit for Russia considering it has permanently decoupled them from the West, no more cords to cut).

5.) The Bahamas does in fact benefit in one way (particularly in real estate and construction) from the money looking to cut loose with America while it still can, but inflation in the US has hit us hard considering that we import nearly everything from there. Not everyone works in real estate or construction to feel that boom. I'm telling you that I have personally seen prices in some items double since COVID and a lot of people are not receiving the kind of wage increases (if any) to keep pace.

Long story short is that the economic picture is not nearly as rosy as it may seem. There is a thread of hope but quite frankly most working class people are only living off of credit and young people especially are at an extreme disadvantage considering the extremely difficult housing market that they are trying to start a life in.

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CaptainCoon 1 month, 3 weeks ago

contrary to your libtard propaganda, inflation directly relates to EU and US sanctions on Russia which has seen fuel prices soar in Europe and everywhere. Now much of Europe is in recession thanks to these failed policies... that are the directive of the Biden Crime Family.

I can't wait for Trump to return and get Sleepy Joe out of Office along with his crack smoking son!

MAGA

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joeblow 1 month, 3 weeks ago

... if only you had mentioned that the Biden administration adjusted the definition of inflation 2 years ago to make their numbers look better, however some will buy the bluster. Real question is whether or not a dollar went further 4 years ago than it does now and the answer is a definite YES!

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ScullyUFO 1 month, 3 weeks ago

I could be wrong but didn't the other guy refer to the Bahamas as a sh**hole country?

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LastManStanding 1 month, 3 weeks ago

No, that was Haiti IIRC and he certainly wasn't wrong either. The current occupant thinks that crack cocaine was made in the Bahamas lol.

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concernedcitizen 1 month, 3 weeks ago

The writer watches too much fox news . The interest rate had been kept artificially low w qaunitive spending since the great recession . All mayor economies suffered from inflation , GB , Canada, European union ,because of the money the governments pumped into the economy bc of covid .Gas was as low as 1.80 a gallon under Trump bc of Covid and no demand .The U S is now pumping more oil than anytime in history .I work in high end tourism and the guest are spending and tipping , even the Republicans that cry about Biden .The Trump years before Covid were good , the last two years under Biden have been fantastic .All the rich Repubs are buying land and building big Arbnbs

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Bobsyeruncle 1 month, 3 weeks ago

The writer obviously lives in a bubble. Inflation is a global economic phenomenom. One country alone does not cause the rate of inflation to change, and typically all countries suffer/benefit together when inflation rates increase or decrease. There are many factors that effect inflation including chip supply shortages (Asia, specifically China), Gas & Oil (Russia & Middle East) etc. etc.

Kevin, please educate yourself on inflation.I can recommend several good books on inflation, all of them authored well before the current fad of airing personal opinion in place of news. Unfortunately relying on main stream media such as CNN or Fox News, or any of the politically biased websites will not educate you.

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johnd 1 month, 3 weeks ago

once again the editor prints a piece of unadulterated crap without checking any of the facts or figures i guess he wants trump to win

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