Hispanic Americans are feeling the financial strain this holiday season

Christmas may be the most wonderful time of the year, but it can also be one of the most expensive.

Making merry with friends and family, surprising one’s children on Christmas morning, and creating memories that will last a lifetime are worth every penny. 

But they can cost a lot of pennies.

Which is why when Hispanic American families sit at the table this year to celebrate “Noche Buena” they will be well aware that the Biden economy is not working for them.

In the nearly three years since President Joe Biden took office, Bidenomics has driven up the cost of just about everything, resulting in holiday economic woes.

But a quick listen to pro-Biden media pundits would suggest that the economy is not only humming along swimmingly, but that good times are here to stay.

Indeed so intense is this disinformation effort that America’s economic malaise is being dismissed as a mere “vibecession.”

Folks feeling the pinch are being gas-lit into thinking that the tough times are simply in their heads.

However, Latinos don’t see the economy through the same rose-tinted glasses as media pundits and Bidenomics cheerleaders.

According to a poll conducted by The LIBRE Institute, a full 48% of Hispanics think the economy is performing poorly and 31% believe it is only doing “fair.” 

Just 21% view the economy as doing “good” or “excellent.”

Hardly surprising that those “vibecession” claims are little more than a distraction on behalf of President Biden’s reelection campaign.

In reality, America’s economic indicators are far from great.

Bidenomics defenders quip that inflation is “going down” but this is merely statistical shape-shifting to twist lower growth in the rate of inflation as being a reduction in inflation overall. 

Since Biden took office, inflation has actually surged – up 17% in cumulative numbers, the highest and most rapid rise since the Jimmy Carter administration.

Meanwhile, wages have grown just 13%.

As the House Budget Committee put it in October, thanks to Bidenomics, a family of four has to pay $15,133 per year more for the same goods and services than they did the day Biden took office.

No amount of PR spin can hide such simple budgetary math from working families trying to make ends meet during the holiday season.

It is even harder to hide it from Latino families, for whom inflation has been found to hit even harder than the general population. 

Beyond inflation, Latino employment numbers also bode poorly for Biden’s claim of economic success.

This past October, Latino unemployment hit 4.8%, up from 3.9% in October 2022.

Job loss cannot be brushed off as simply being a “bad vibe,” so it’s hardly surprising that 69% of Latinos disapprove of Biden’s handling of the economy.

More Bidenomics means more out of control government spending that benefits connected cronies and special interests groups.

That spending is paid for by record breaking government debt, which only compounds the existing problems making it that much harder for Americans to afford holiday presents, pay for flights to see their loved ones, or buy groceries for Christmas dinners. 

Some 80% of Hispanics agree with the statement “I worry that America is declining and that my children will not have the opportunities I hoped they would have.”

This is markedly higher than the 58% of all Americans who believe that life for people like them is worse today than it was 50 years ago, according to a recent Pew poll.

However, America’s declining economic future is not set in stone. Prosperity is possible.

But turning away from the road to economic ruin means leaving Bidenomics behind and embracing reforms that benefit everyone through long-term economic growth and prosperity.

It means stopping the out-of-control governmen spending spree that hogs resources and then doles them out to government favorites.

It means letting consumers decide what businesses should succeed and fail based on merit, rather than the government picking winners and losers.

It means reversing Biden policies that contribute to high energy prices by penalizing reliable oil and gas production with higher relative fees in favor of wind and solar sources. 

Christmas is indeed the most wonderful time of the year, but It doesn’t need to be a painfully expensive one.

Cutting government spending will help rein in inflation, lower consumer prices, and boost prosperity for everyone — not just the connected for whom Bidenomics means Christmastime all year long. 

Jose Mallea is the CEO of The LIBRE Initiative.