Bidenomics continues to fail the American people. This year, Bidenflation has led our Fourth of July BBQs to be the most expensive in history. According to the American Farm Bureau Federation (AFBF), Americans will pay a “record high” amount for their Fourth of July BBQs this year because of “inflation” and “higher prices at the grocery store.”
FLASHBACK: Three years ago, Joe Biden’s White House put out a tone-deaf tweet taking credit for Americans saving $0.16 on their Fourth of July BBQ, citing that year’s AFBF report. In 2021, AFBF found that the average cost of a Fourth of July BBQ for ten people was $59.50. Today’s report found that the same BBQ will cost $71.22, a nearly 20% increase in just three years.
MAKE NO MISTAKE: Bidenflation is a direct result of Joe Biden’s out-of-control government spending. House Republicans are committed to reining in Biden’s reckless spending and restoring fiscal responsibility to Washington.
BIDENOMICS BY THE NUMBERS:
Inflation is a tax on ALL Americans.
When Joe Biden took office inflation was at just 1.4%.
Since Joe Biden took office, inflation has risen by 20.1%
This year’s Fourth of July BBQ will be the most expensive in history because of Bidenomics.
Americans are paying more for just about everything because of inflation since Biden took office:
K-12 food is UP 65.1%
Gasoline, unleaded regular is UP 55.3%
Eggs are UP 40.1%
Airfare is UP 39.9%
Flour is UP 34.8%
Admission to sporting events is UP 34.0%
Electricity is UP 29%
Baby food is UP 28.4%
Butter is UP 27.3%
Public transportation is UP 27.2%
Cigarettes are UP 26.7%
Cookies are UP 25.8%
Breakfast cereal is UP 24.8%
Bread is UP 24.8%
Poultry is UP 24.2%
Lunch meats are UP 24.2%
Chicken is UP 24.0%
Uncooked ground beef is UP 23.3%
Pet food is UP 23.0%
Eating out is UP 22.2%
Groceries are UP 21.2%
Rent is UP 21.2%
Used cars are UP 20.9%
Americans are spending over $12,800 more annually to buy the basics because of Bidenflation compared to three years ago.
Since Biden took office, Americans are spending over $1,000 more a month than they were three years ago.
Real wages remain lower than when Biden first took office.
Inflation-adjusted average weekly earnings were $397.90 when Biden took office and are now $382.28 - the Bureau of Labor Statistics adjusts to 1982-1984 dollars - meaning Americans have seen a 3.9% decrease under Biden.
Bidenflation outpaced wages for a majority of Biden’s presidency – both year-over-year real average hourly earnings and real average weekly earnings were negative for 25 months.
Under Biden, the mortgage rate climbed to over 7% nationally, and housing affordability has plummeted to record lows.
