President Biden and Congressional Democrats’ Far-Left Socialist agenda and out-of-control government spending have caused inflation to skyrocket to a 40-year high. Inflation is a tax on ALL Americans, and because of Biden and Congressional Democrats, Americans are paying more for just about everything while making less.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- Inflation has increased every month of Joe Biden’s presidency.
- The consumer price index (CPI) surged 7.5% over the past year, the highest reading since February 1982, and higher than economists had predicted.
- Americans are paying more for just about everything because of inflation:
- Inflation is going up faster than wages.
- Inflation affects low-income workers the most.
- Instead of getting to the root cause of the economic crisis, House Democrats announced a hearing on abolishing the debt ceiling as Americans woke up to the worst inflation rate in 40 years.
- Democrats just want an easier pathway for their out-of-control spending and Socialist agenda, which is the cause of the skyrocketing inflation.
- Real wages have decreased under Biden 8 out of the 12 months during his first year in office.
- Inflation is now costing the average American household an extra $250 a month.
- A new NFIB survey shows that 61% of small business owners had to raise prices last month because of President Biden’s inflation crisis, the highest reading since the fourth quarter of 1974.
- Now, economists are warning the U.S. is at risk of a wage-price spiral.
- Biden’s first year in office went down as the worst year for inflation since 1981.
- In 2021, inflation cost the average worker nearly two paychecks and $5,000 per year for the average family.