The Republican Point: The One-Two Gut Punch Of "Bidenomics"

First, Americans struggled under the weight of inflation. Now, surging interest rates. “Bidenomics” keeps costing American families.

Here’s how it works:

1. Biden’s agenda fueled inflation – even liberal economists say so – and now prices have risen 16.6% and the inflation rate is double what it was when Biden took office.
2. This inflation forced the Fed to raise interest rates. Even Treasury Secretary Janet Yellen confirmed that Biden’s inflationary spending set the stage for higher interest rates.
3. The cumulative effects of these interest rate increases has punished Americans families. 61 percent of Americans say they took a financial hit due to rising interest rates in the past 12 months.

The result has been a one-two gut punch to American families already struggling after years of Biden’s price increases. Rate increases affect mortgage payments, car payments, student loans, and unfortunately, much more.

Take credit cards for example: Bidenflation has forced millions to use credit cards to afford basic necessities. As a result, credit card debt is at a record high, and more people are carrying debt month to month. Now, as the Fed raises interest rates to fight Bidenflation, those higher interest rates are already hitting Americans with credit card debt.

Here’s the point: This is a direct result of Bidenomics. If Biden wants credit for poorer families, elevated prices, and surging interest rates, he’s got it.