Biden displays his economic illiteracy with his comments on Caitlin Clark’s salary

President Biden joined in the left’s outrage Tuesday over Caitlin Clark’s reported rookie-year salary, once again displaying his stunning ignorance about, or indifference to, the laws of economics.

Clark, the women’s pro basketball superstar who’s broken records and drawn eyeballs to the sport, got a reported $338,000 four-year contract with the Indiana Fever, earning $76,535 her rookie year.

By contrast, the 2023 No. 1 overall pick, Victor Wembanyama, has a four-year contract with the San Antonio Spurs worth over $55 million, with first-year pay reportedly pegged at $12.1 million.

The gap is giving the left, including Biden, conniptions.

“Right now we’re seeing that even if you’re the best, women are not paid their fair share,” Biden posted on X.

“It’s time that we give our daughters the same opportunities as our sons and ensure women are paid what they deserve.”

Please. There are numerous reasons for the salary gap between women players and the NBA’s men, but none of them is sexism, as Biden & Co. imply.

Fact is, the WNBA simply isn’t as successful financially as its male counterpart.

The entire 12-team WNBA pulls in just $60 million per season from TV contracts with ESPN, CBS, ION and Amazon, and $200 million overall last year.

No way can it afford to pay its players anything close to the sky-high salaries of NBA stars.

The 30-team men’s league, remember, makes $2.7 billion from TV contracts and its total recorded revenue was $10.6 billion last year.

The overriding reason: Viewers have had enormous interest in men’s professional basketball; women’s hoops, not so much.

At least, not until recently.

Clark, along with other female standouts, like Angel Reese and Aliyah Boston, are helping to change that with their remarkable athletic talents.

As interest in women’s sports grows and boosts the league’s financial success, the money will flow.

And Clark, Reese, Boston and, in fact, the all the WNBA players will be able to command fatter contracts, commensurate with their talent.

In the meantime, Clark will make millions from endorsement deals and social media. Because advertisers are willing to pay more.

Yet Biden has no clue — or concern for — such basic economic principles.

Heck, look at what Bidenomics has done to the economy: Average Americans have seen prices soar way faster than wages. Meaning they’ve lost ground.

High interest rates are making purchases unaffordable, and the Federal Reserve is now warning they won’t come down as Biden promised.

In November, pocketbook issues will take center stage at the polls.

Don’t be surprised to see voters hold Biden accountable for his economic illiteracy.

.