Nearly Everything Is More Expensive In Biden’s America
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THE BIDEN ECONOMIC “PLAN” IS FAILING
- American workers, families, and small businesses are paying more for “just about everything,” yet Biden wants to slam Americans with even more reckless taxes and spending.
- Americans across the country feel it in their paychecks and pocketbooks, with inflation at its highest rate in over a decade.
- Americans are not happy with the state of the economy, with Biden’s economic approval falling and economic optimism at a dismal 22 percent.
LESS BANG FOR YOUR BUCK THANKS TO BIDEN
- Consumer prices rose at 5.4 percent in July – remaining at the highest rate since 2008.
- Rapidly rising prices for everyday goods have completely swamped any wage growth, with paychecks actually shrinking last month when inflation is factored in.
- Used cars and trucks prices are up nearly 42 percent over the past year, bad news that comes after last month’s record-setting increase.
- The cost to eat out at restaurants saw its largest monthly increase since 1981.
- Grocery shopping is getting more expensive, with Americans seeing higher prices year-over-year for kitchen staples like eggs (5.7 percent), milk (6.2 percent), fruit (5.2 percent), fish (8.5 percent), and chicken (5.2 percent).
- Core consumer prices are up 4.3 percent from a year ago, right on the coattails of last month’s largest increase in nearly three decades of 4.5 percent.
- Before the Biden administration, the last time core consumer prices reached 4 percent was in 1991.
- Producer prices rose 7.8 percent in June, the fourth month in a row the index reached a new high.
AS BIDEN DOES NOTHING, PRICES WILL CONTINUE TO RISE
- Despite Biden’s out-of-touch claims that inflation will pass, there are signs that it is here to stay long-term.
- Rent prices, which have grown 9.2 percent nationally since the beginning of 2021, are set to continue ticking up as the “tremendous amount of stimulus…has potential to create upward pressure on rent prices.”
- House prices, too, have risen in recent months, “point[ing] to more persistent, rather than transitory, upward price pressures in the coming years.”
- Gas and oil prices have steadily risen since Biden came into office.
- The Biden administration has repeatedly signaled a shift away from American energy independence in favor of radical Green energy policies that empower foreign countries.
- Instead of addressing these high gas prices by stopping his war on the U.S. oil and gas industry, Biden has called on our nation’s adversaries to produce more oil.
- Used car prices – a key inflation indicator – are not likely to fall anytime soon.
- Obama’s former chief economic adviser – Jason Furman – has debunked the claim that higher car prices are due to supply shortages.
- Despite these higher prices, Biden wants to make the problem worse, calling for trillions in new spending and raising the debt to historic levels.
AMERICANS WORKERS, SMALL BUSINESSES, AND FAMILIES ARE PAYING THE PRICE
- Many Americans are concerned they “can’t afford the lifestyles they were living even a year ago” because of higher prices.
- Kandi Montgomery, a single mother of three is “feeling the inflation pinch,” saying she is “hanging in there but it’s definitely harder.”
- Jonathan Miller, a father of two, is paying more at the supermarket, with “...milk, bread, going up . . . I’ve seen the prices go up tremendously.”
- Anne Laudenschlager: “I see it every week in the grocery store, you look at prices and you’re like almost stunned.”
- Donna Malone: “Well we have to eat, so what can I say. A lot of times I have to compromise.”
- Ken Langone, Home Depot Co-Founder, said that inflation is “not transitory,” refuting Biden’s claim that it is.
- While Biden tells employers to pay their workers more, the reality is that wage gains are “completely erased by” higher prices.
