President Biden’s economy is worse than we thought. The real gross domestic product (GDP) decreased at an annual rate of 1.6% 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.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
This Fourth of July, American families can expect to pay $76.94 for the average cookout, which is $11.48 higher than the cost of an average BBQ in 2021. If you’re planning on buying fireworks this year, those will run you 25–30% more.
Inflation is a tax on ALL Americans.
Only 27% of Americans approve of Biden’s handling of the economy - a new low.
American families can expect to pay $76.94 for the average cookout, which is $11.48 or 17% higher than the cost of an average BBQ in 2021.
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.
House Republicans sounded the alarm in February, and the Biden administration refused to act swiftly. We HAVE a solution, and will continue to hold this administration accountable for their failure.
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.