A new Monmouth University Poll shows that not only has the percentage of Americans reporting they are struggling financially jumped nearly 20 points over the past year, but nearly 60% of Americans say the federal government is responsible. This is the highest percentage in the history of this poll.
Because of this financial burden, only 38% of Americans say they are “extremely” proud to be an American—another historic low.
MAKE NO MISTAKE: Americans know that Joe Biden and House Democrats’ reckless spending and failed Far-Left agenda have caused a shrinking economy, falling real wages, and 40-year high inflation. Now, the Biden Price Hike is hurting the chances for millions of Americans to achieve the American dream.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
Inflation is a tax on ALL Americans.
The real gross domestic product (GDP) decreased at an annual rate of1.6% in the first quarter of 2022, according to a twice-revised estimate released by the Bureau of Economic Analysis.
This comes at a time when the second quarter GDP is on track to grow less than 1%, according to the latest Wall Street estimates.
As our economy shrinks, American consumers and businesses are increasingly worried about entering a recession this year.
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 wages are down nearly 4% from the beginning of the Biden Administration.
Real average hourly earnings decreased 3.0%, seasonally adjusted, from May 2021 to May 2022.
