The Consumer Price Index (CPI), a key inflation index, hit near the highest level in more than 40 years in April. The CPI increased 8.3% over the past 12 months, and it has been the biggest single-year growth level since 1984.
MAKE NO MISTAKE: Inflation is a tax on ALL Americans, and it has skyrocketed because of Joe Biden and House Democrats’ out-of-control government spending to fuel their radical Far-Left agenda.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- Inflation has increased every month of Joe Biden’s presidency.
- Inflation has risen dramatically since Biden took office.
- This massive level of inflation is not the result of a so-called “Putin price hike,” but the failed policies of President Biden and House Democrats.
- Real wages have decreased under Biden 10 out of the 14 months since his first full month in office.
- Real average hourly earnings decreased 2.6%, seasonally adjusted, from April 2021 to April 2022.
- Earnings are not keeping up with inflation.
- Americans are paying more for just about everything because of inflation:
- Gas is UP 43.6%
- Airline fares are UP 33.3%
- Used vehicles are UP 22.7%
- Hotels and motels are UP 22.6%
- Eggs are UP 22.6%
- Public transportation is UP 21.8%
- Lodging away from home is UP 19.7%
- Bacon is UP 17.7%
- Chicken is UP 16.4%
- Roasted coffee is UP 14.7%
- Uncooked beef and veal are UP 14.3%
- Pork is UP 13.7%
- New cars are UP 13.2%
- Baby food is UP 13.0%
IT’S SIMPLE: Instead of addressing the root cause of inflation, out-of-control government spending, Joe Biden and House Democrats continue to push their Far-Left Socialist agenda, which will only exacerbate America’s economic crisis.