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Biden’s White House Came To The Hill To Brief House Dems On America’s Economic Crisis, And It Was A Disaster

Washington, DC, June 16, 2022

After a year of largely ignoring America's economic crisis, House Democrats invited senior Biden White House officials to come to the Capitol today to brief their Members at a special caucus on how "to talk about economic messaging," and it was a DISASTER. Politico's Sarah Ferris reported that the meeting was not what House Democrats were hoping for and that the senior Biden officials provided "no new strategy or message," adding the officials delayed getting there and had very little time for questions. MAKE NO MISTAKE: If House Democrats were serious about combating America's economic crisis, they would have invited House Republicans to speak to them, not the Biden White House officials who called inflation “temporary” and a “high-class problem.”Unlike the Biden administration and House Democrats, House Republicans have real solutions to fix America's economic crisis, which has been caused by Biden and House Democrats' Far-Left agenda and out-of-control government spending. BIDEN’S ECONOMIC CRISIS BY THE NUMBERS: 

  • Inflation is a tax on ALL Americans.
  • In May, the CPI increased 8.6%for the 12 months ending May, the largest 12-month increase since the period ending 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.
    • Real wages have decreased under Biden 10 out of the last 12 months.
  • Americans are paying more for just about everything because of inflation.
  • Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices.
  • As the price of inputs rises, so do the final products. As a result, Americans are paying more at the grocery store.
    • In 2020, Americans spent 8.62% of their income on groceries; now in 2022, Americans are spending 12% of their income on groceries.
  • Four out of every ten large-scale farmers and ranchers reported trouble buying inputs, including fertilizer and farm equipment.
    • Fifty-seven percent of the largest U.S. farmers said they expect input prices to climb by at least 20 percent in the next year.