President Biden’s Economic Crisis

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.
  • 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.