The American dream seems to be crumbling, particularly under Biden’s economic policies. As people flee states like New York and California, some experts suggest that the worst is yet to come. Biden’s economy could turn into an American nightmare.
Fleeing Liberal States
People are leaving states like New York and California to escape high living costs, heavy-handed policies, and crime.
However, experts warn that these happy migrants could face new challenges created by the Biden administration’s economic approach.
Pandemic-Induced Lifestyle Shift
The pandemic made many realize that working from home was viable, offering a chance to leave expensive cities. But this shift might not save them from looming economic downturns.
Population Decline in California
For the first time, California saw a decline in population, losing more than half a million people between January 2020 and July 2022.
Tax Revenue Losses
California lost over $340 million in tax revenue in 2021 due to this migration. New York wasn’t far behind, losing nearly $300 million.
Historic Migration Patterns
People are moving at a rate not seen since 1990, possibly even before that.
Once people leave, they rarely return, indicating a long-term trend.
City Revitalization Isn’t Enough
Even though cities like New York and L.A. are trying to revamp, it’s nowhere near the pre-pandemic boom.
People continue to move to states like Texas and Florida that align with their values.
Red State Appeal
People are seeking states with lower taxes, better business policies, and improved quality of life. This has kept migration to red states strong since its peak in 2021.
New York’s Struggle
New York’s financial backbone has been severely weakened, and the city faces challenges in repurposing empty buildings, adding to its woes.
An Unsettling Economic Future
Experts worry that the worst is yet to come, considering factors like the resumption of student loan payments, describing it as a “wild card.”
Some Flock to New York
However, it appears some people, mostly from international markets, are still moving to New York’s suburban areas, showing that the city hasn’t entirely lost its appeal.
Inflation and supply chain issues have driven up the costs of everyday items. This could compound the struggles of the average American household.
Savings at an All-time Low
Despite low unemployment and increased interest in travel, household savings are dwindling, mainly because everything has become more expensive.
Government measures to control inflation and other economic issues have largely been ineffective, leading to a possible negative impact on Americans’ financial well-being.
Stagnating Income and Rising Inflation
While incomes have not increased, prices have, essentially pushing Americans backward financially at an alarming rate.
Personal Financial Responsibility
Experts suggest that Americans should focus on building substantial emergency reserves rather than relying on government solutions to fix the economy.
A Do-It-Yourself Economy
Americans are advised to create their own economic solutions as Biden’s economic policies appear to be setting the stage for significant problems.
“America only has ONE NATIONAL ANTHEM”: Fans Outraged After Black National Anthem Is Sung at Super Bowl LVII Instead of American National Anthem
The NFL’s decision to include the performance of “Lift Every Voice and Sing,” often referred to as the “Black National Anthem,” at the opening of Super Bowl LVII has sparked severe online controversy. Here’s the full story. “America only has ONE NATIONAL ANTHEM”: Fans Outraged After Black National Anthem Is Sung at Super Bowl LVII Instead of American National Anthem
“Karma Strikes Back” – Russia Faces Its Largest Attack on Home Soil Since the War Began
Reports of drone attacks on Russian soil by the Ukrainian forces have escalated to the largest cross-border attack since the war started, with the important airport in Pskov becoming the latest victim. “Karma Strikes Back” – Russia Faces Its Largest Attack on Home Soil Since the War Began
“Texas Is Doomed” – Federal Judge Delivers a Controversial Verdict, Gov. Greg Abbott Accused of Breaking the Law in Latest Legal Showdown
A federal judge has ruled that Texas governor Greg Abbott violated federal laws in his fight to keep Mexicans out. Now, the Republican may be up a creek without a paddle. “Texas Is Doomed” – Federal Judge Delivers a Controversial Verdict, Gov. Greg Abbott Accused of Breaking the Law in Latest Legal Showdown
They “Boxed All of the Black Children Together” – Florida Principal Threatens High-Achieving Black Student With Jail Time if Test Scores Don’t Improve
Bunnell Elementary School’s new principal, Donelle Evensen, attempted a unique strategy to address academic performance concerns, but it backfired spectacularly, sparking outrage and accusations of racial insensitivity. They “Boxed All of the Black Children Together” – Florida Principal Threatens High-Achieving Black Student With Jail Time if Test Scores Don’t Improve
Florida’s COVID Hospitalizations Soar as DeSantis Administration Urges People Under 65 Not to Get Newly Approved Boosters
Florida’s Covid-19 hospitalizations have surged to a post-pandemic record. Amid this crisis, Governor Ron DeSantis and his surgeon general’s controversial warning against COVID-19 booster shots has sparked intense debate and concern within the medical community. Florida’s COVID Hospitalizations Soar as DeSantis Administration Urges People Under 65 Not to Get Newly Approved Boosters
Featured Image Credit: Shutterstock / Chris Allan. The people shown in the images are for illustrative purposes only, not the actual people featured in the story.