As rising costs continue to outpace Americans’ wages, families are burning through crucial emergency and retirement funds to stay afloat in Joe Biden’s America. According to two new surveys, 67% of Americans are now draining their savings and a quarter of Americans are reporting they will delay their retirement because of this 40-year high inflation.
MAKE NO MISTAKE: Inflation is a tax on ALL Americans. Joe Biden and House Democrats’ out-of-control government spending over the past year and half is costing millions of Americans their future.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- 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.
- Real average hourly earnings decreased 3.0%, seasonally adjusted, from May 2021 to May 2022.
- Real wages have decreased under Biden 10 out of the last 12months.
- According to a new survey, 67% of Americans are now draining their savings.
- 25% of Americans are reporting they will delay their retirement due to Biden’s economic crisis.
- Inflation will cost Americans OVER $5,000 this year.
- Americans are paying more for just about everything because of inflation.
- 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.
- Already, diesel is up 115%, natural gas 202%, fertilizer 220%, and fertilizer ingredients are up 125%from January 2021 to January 2022.