According to the American Farm Bureau Federation (AFBF), American families will spend 17% more this year on Fourth of July celebrations compared to last year.
The AFBF detailed how Biden’s economic crisis and historic energy crisis are crushing Americans’ producers, leading to higher costs for consumers:
“Despite higher food prices, the supply chain disruptions and inflation have made farm supplies more expensive; like consumers, farmers are price-takers not price-makers…Bottom line, in many cases the higher prices farmers are being paid aren’t covering the increase in their farm expenses. The cost of fuel is up and fertilizer prices have tripled.”
FLASHBACK: Last year, President Biden made the tone-deaf decision to take credit for $0.16 worth of savings. Now, this July 4th, Americans are struggling to afford necessities because of Joe Biden and House Democrats’ reckless spending and war on American energy.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- Americans are paying more for just about everything this Independence Day because of inflation:
- 2 pounds of ground beef UP 36%
- 2 pounds of boneless, skinless chicken breasts UP 33%
- 32 ounces of pork & beans UP 33%
- 3 pounds of center cut pork chops UP 31%
- 2.5 quarts of fresh-squeezed lemonade UP 22%
- 2.5 pounds of homemade potato salad UP 19%
- 8 hamburger buns UP 16%
- Half-gallon of vanilla ice cream UP 10%
- 13-ounce bag of chocolate chip cookies UP 7%
- In May, the CPI increased 8.6% for the 12 month period ending in May, the largest 12-month increase since the period ending in December 1981.
- Wages are not keeping up with inflation, and have actually DECREASED, while prices for goods have risen.
- Inflation will cost Americans OVER $5,000 this year.
- Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices.
- U.S. consumer sentiment plunged in early June to the lowest on record as soaring inflation continued to batter household finances.
- Farmer input costs are rising: diesel is up 115%, natural gas 202%, fertilizer 220%, and fertilizer ingredients are up 125% from January 2021 to January 2022.