IT’S WORKING: Bidenomics strikes again: Real household income suffers biggest drop since Great Recession. “Even Obama auto bailout czar Steve Rattner blames Bidenomics: ‘The original sin was the $1.9 trillion American Rescue Plan, passed in March. The bill — almost completely unfunded — sought to counter the effects of the Covid pandemic by focusing on demand-side stimulus rather than on investment. That has contributed materially to today’s inflation levels.'”

UPDATE (FROM GLENN): Why Team Biden might be purposefully grinding down the middle class.