President Biden has repeatedly cited the Wall Street firm Moody’s while attempting to sell Americans on his reckless $5.5 TRILLION tax and spend spree.
Well, today Biden’s favorite Wall Street firm released a report that found, “for households earning the US median annual income of about $70,000, the current inflation rate has forced them to spend another $175 a month on food, fuel, and housing.”
According to Mark Zandi, the chief economist at Moody’s Analytics, “that’s the equivalent of a full grocery, electric or cellphone bill.”
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Americans’ real income is falling.
- Inflation is taxation, and it has gone up every month of Joe Biden’s presidency.
- The PCE price index, a key inflation gauge, hit a 30-year high in August.
- Inflation has Americans paying more for just about everything.
- Americans can expect to pay up to 20% MORE for holiday gifts this year because of inflation, according to a new report.
- A recent survey found that inflation is now retirees’ top concern.
- Many consumer experts do not see any immediate relief in sight.
- A 10-ounce bag of Lay’s potato chips cost $3.75 in August, 50 cents more than a year earlier at Dollar General stores in the Southwest.
- The August jobs report fell well short of economists’ expectations adding only 235,000 jobs in the month.
- 8.4 MILLION Americans remained unemployed in August despite there being 10.5 MILLION job openings.
It’s simple: Americans can’t afford Joe Biden. Inflation is taxation and it has gone up every single month of Biden’s presidency. Instead of addressing a root cause of inflation (out-of-control government spending), Biden and House Democrats are ramming through the largest spending package in our nation’s history, which will only add fuel to America’s skyrocketing inflation.