Biden’s Inflationary Agenda Is Wreaking Havoc On Americans’ Wallets This Holiday Season
HIGHER PRICES AND LOWER WAGES FOR AMERICAN FAMILIES
- Biden and Democrats’ failed policies are squeezing Americans’ wallets, robbing them of their hard-earned money this holiday season.
- November’s Consumer Price Index soared by 7.1 percent compared to last year, remaining excessively high.
- Core consumer prices – excluding food and energy – rose 6 percent compared to last year, hovering near 40-year highs.
- Real average hourly earnings fell 1.9 percent since last year, marking the 20th month in a row under Biden in which inflation has outpaced wages.
- Real wages have fallen every month since Biden and Democrats passed their wasteful $1.9 trillion “stimulus.”
- November’s Producer Price Index rose by 7.4 percent since last year.
- This marks the 20th straight month that wholesale inflation has been above 5 percent year-over-year.
- Core producer prices – which takes out food, energy, and trade – increased by 4.9 percent from last year.
- 80 percent of Americans say economic conditions are “not so good” or “poor.”
- 94 percent of Americans say they have been personally impacted by high inflation and more than half of Americans believe the country is already in a recession.
- As inflation continues to destroy Americans’ finances, Biden promises “nothing” will change.
BIDENFLATION IS COSTING FAMILIES THOUSANDS OF DOLLARS
- With inflation remaining excessively high, more Americans are taking on a second job to make ends meet.
- More Americans are also tapping into their 401(k)s early to handle financial emergencies, spiking 24 percent in the last year.
- Even if inflation stopped rising today, Biden’s price hike would cost the average U.S. family nearly $9,000 over the next year according to Congress’ Joint Economic Committee.
- In November alone, inflation cost the typical household an extra $747.
- Inflation is placing more and more Americans in financial jeopardy, with the U.S. savings rate now at a 17-year low.
- 60 percent of workers report living paycheck-to-paycheck – just shy of the historic high of 64 percent.
- Consumer confidence is at its lowest level since July, falling for the second month in a row.
INFLATION SLAMS SHOPPERS THIS HOLIDAY SEASON
- This Christmas, Americans will pay more for just about everything under the tree (and the tree itself) thanks to Bidenflation.
- Families are facing steeper prices to travel to see loved ones over the holidays.
- A round-trip flight during the Christmas season is now 39 percent more expensive than last year, making this the most expensive holiday airfare in five years.
- Rates for hotel rooms and rental cars have spiked “12 percent and 46 percent respectively from where they were in 2019.”
- Gas prices sit at $3.25 per gallon, remaining nearly $1 higher than before Biden took office.
- Holiday meals will be costlier, with staples like a Christmas ham (+7.8 percent), pie (+19.4 percent), and milk for Santa (+14.7 percent) all up.
- Along with a more expensive holiday, heating costs this winter are also expected to burn a hole in Americans’ wallets.
DEMOCRATS’ RESPONSE TO THE CRISIS THEY CREATED: MORE INFLATIONARY SPENDING
- As working-class families struggle to make ends meet thanks to inflation, voters know Democrats are to blame for rising prices.
- In 2021, Biden and Democrats passed their inflation-fueling $1.9 trillion “stimulus,” which even liberal economists admit fueled inflation.
- In August, every single Democrat voted to pass the Bidenflation Scam, which experts say will worsen inflation and raise taxes on working-class Americans.
- To top this off, Biden is now pushing his student debt bailout, which experts warn will cost taxpayers billions and worsen inflation.
