Bidenflation Is Crushing Families And Businesses

Biden’s America: High Prices, Falling Real Wages, Empty Shelves, And Dwindling Options

PRICES CONTINUE TO SURGE

• In December, Biden oversaw the worst jobs report of the year and the highest inflation rate in nearly four decades.
• After just 199,000 jobs were added, well below economists’ expectations, the Consumer Price Index rose by 7 percent in December compared to last year – the largest annual increase in over 39 years.
  • Core consumer prices – excluding food and energy – rose by 5.5 percent since last year, the largest increase since February 1991.
  • Inflation has completely wiped out nominal wage gains, with real average hourly earnings decreasing 2.4 percent in December. 
• Producer prices have risen 7 percent since last December, the “largest calendar-year increase” on record.
  • Core producer prices – which takes out food and energy – also increased at a record 8.3 percent.
• “This type of inflation can ultimately derail an economy,” with prices rising for “pretty much everything” from gas (+49.6 percent) and electricity (+6.3 percent) to food (+6.3 percent) and clothing (+5.8 percent).

OPTIONS DWINDLE AS PRICES SOAR UNDER BIDEN

• Over the holidays, inflation cost Americans an extra $6.2 billion, with a 3.1 percent spike in online prices compared with last year.
• As prices continue to skyrocket, Americans are purchasing cheaper foods, switching brands, and walking away from what they used to buy.
  • In Pennsylvania, there’s “empty shelves left and right.”
  • In Texas, there’s “near empty” shelves as residents have to go to as many as “three different stores” to find products.
• As the standard of living falls, one survey shows 80 percent of Americans have had to “cut ties with [their] favorite brands.”
• U.S. consumer sentiment has fallen 12 percent since last year.
• Major brands have been forced to raise prices due to Bidenflation:
  • Corona and Modelo will hike beer prices due to inflation and glass shortages.
  • IKEA “will see prices at its stores going up an average of 9 percent.”
  • Little Caesars, famous for its Hot-N-Ready pizza, is raising its prices for the first time in 25 years.
  • Dollar Tree announced it was raising prices for many products to $1.25.
• Small businesses haven’t been spared either from the effects of Biden’s economy:
  • Rodolfo Gerardo, a restaurant owner in Illinois: “We have to raise our prices. Sadly, if we don’t, we can’t keep our business.”
  • Dave Horesh, co-founder of Oxford Pennant in Buffalo, New York:  “…when it happens across your entire supply chain, you can only resist [raising prices for] so long.”
• “Shrinkflation” – maintaining the price but lowering the amount for customers – has taken hold.
  • A pack of Hershey Chocolate Kisses and a family-size container of Tillamook ice cream cost the same but now have less in them.
• In December’s NFIB Small Business Optimism Index, 22 percent of small businesses reported inflation as the number one problem their business faces – the highest level since 1981.

BIDEN’S FAILURE TO “SHUT DOWN THE VIRUS” IS COSTING AMERICANS

• After failing to “shut down the virus” as he promised, Biden says stalled job growth, rising prices, and his supply chain crisis are part of his “fundamentally new approach to our economy.”
  • 3.1 million Americans were unable to work in December because their employer was closed or had lost business because of the pandemic.
• Biden’s vaccine mandate threatens nearly 45 million jobs and businesses with at least $1.29 billion in compliance costs, exacerbating the supply chain crisis and driving up costs.
  • One poll found that seven in ten unvaccinated workers would likely quit their jobs rather than adhere to the vaccine mandate.
• Even as these jobs are threatened and COVID surges, Democrats want to ram through a bloated, nearly $2 trillion spending bill that includes massive tax cuts for wealthy blue state residents.

BIDEN’S SUPPLY CHAIN FIASCO CONTINUES

• Biden has failed to deliver on his promise to provide relief from supply chain bottlenecks at California ports.
  • Cargo ships are now simply waiting farther out at sea to get to port.
  • The number of ships waiting at Los Angeles and Long Beach hit an all-time high last week.
• As transpacific shipping costs skyrocket heading into 2022 – signaling inflation will persist – small-to-middle size shipping companies are paying higher costs with no choice but to pass them onto consumers.
• Biden’s vaccine mandate and testing requirements will only mangle the supply chain even more:
  • A Minnesota trucking company CEO: “Where are we gonna get tested? There isn’t semi-parking at clinics, Walgreens, or CVS.”
• In the housing market – with homes already nearly 14 percent more expensive than last year – supply-chain backlogs are leaving some homes without gutters or garage doors.

INFLATION IS ONLY GETTING WORSE, AND BIDEN DOESN’T CARE

• For months Biden and his team downplayed inflation, even making jokes about it:
  • July 2021, Biden said “it’s highly unlikely that it’s going to be long-term inflation that’s going to get out of hand.”
  • Just last month, White House Press Secretary Jen said prices are “mov[ing] in a good direction.”
  • Energy Secretary Jennifer Granholm said “that is hilarious” when asked what the administration’s plan to lower gas prices was.
• Now, with key measures of long-term inflation showing no signs of relenting, Treasury Secretary Janet Yellen said it’s time to “retire the word transitory” when it comes to Biden’s inflation crisis.
• Biden’s mandate will only worsen labor shortages, and his nearly $2 trillion socialist agenda will make Americans in every income bracket poorer in an already struggling economy.
• As high food prices “are continuing to increase into 2022,” 69 percent of Americans disapprove of Biden’s handling of inflation.