According to the American Farm Bureau Federation (AFBF), American families will spend 17% more this year on Fourth of July celebrations compared to last year.
The AFBF detailed how Biden’s economic crisis and historic energy crisis are crushing Americans’ producers, leading to higher costs for consumers:
“Despite higher food prices, the supply chain disruptions and inflation have made farm supplies more expensive; like consumers, farmers are price-takers not price-makers…Bottom line, in many cases the higher prices farmers are being paid aren’t covering the increase in their farm expenses. The cost of fuel is up and fertilizer prices have tripled.”
FLASHBACK: Last year, President Biden made the tone-deaf decision to take credit for $0.16 worth of savings. Now, this July 4th, Americans are struggling to afford necessities because of Joe Biden and House Democrats’ reckless spending and war on American energy.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices.
U.S. consumer sentiment plunged in early June to the lowest on record as soaring inflation continued to batter household finances.
Farmer input costs are rising: diesel is up 115%, natural gas 202%, fertilizer 220%, and fertilizer ingredients are up 125% from January 2021 to January 2022.