And what did Joe Biden and House Democrats do to address this crisis their out-of-control spending created? They took a victory lap for passing their Inflation Expansion Act which does nothing to address inflation in fact the Congressional Budget Office said the bill could slightly increase inflation in 2023.
BIDEN’S ECONOMIC CRISIS:
- Inflation is a tax on all Americans.
- In August, the CPI came in “hotter” than expected at 8.3% for the 12 months ending August.
- Food prices alone are up 11.4% since last year, the largest one-year increase in prices since 1979.
- Grocery prices are up 13.5% as a whole.
- Real average hourly earnings decreased 2.8%, seasonally adjusted, from August 2021 to August 2022.
- Americans are paying more for just about everything because of inflation:
- Over 80% of small business owners expressed concerns over Biden’s inflation crisis.
- Only 16% of American adults say our economy is in good shape, according to a new Gallup poll.
- Biden’s inflation crisis has cost the average American worker OVER $3,000 in annual income.
- The skyrocketing cost of goods and services will cost the average American household nearly $6,000 this year.
- As Americans pay for more for just about everything, Biden’s recent student loan scam will force America’s taxpayers to pay an extra $2,000to foot the bill.