While members of the Biden Administration party at DC nightclubs, the rest of America are drinking Carlo Rossi wine (a favorite of mine in high school!) and eating Spam.
While hourly pay has increased, inflation has outpaced it.
Spending on basic survival needs like food, transportation, housing, and energy has increased, with households in the Mountain West facing the highest rates of inflation.
“We choose January 2021 as the base month because it was the last time inflation was within recent historical norms,” the report reads.
“Due to a combination of higher inflation rates and higher average household spending, inflation is imposing the highest monthly costs on families in the states of Colorado, Utah, and Arizona,” the report adds.
Families in Colorado and Washington, DC, are experiencing inflation costs higher than the national average.
Things are even worse in 2023 regarding inflation ravaging worker’s income. Over 60% of Americans reported that their wages were lagging well behind inflation.
Almost 2 in 3 workers got a pay increase this year — but say they lost ground to inflation.
Since January 2021, US purchasing power of the US Dollar is down a whopping -15.4% under Biden.
And home prices are up 33.2% under Biden, much of it due to The Feral Reserve money printing to fund Biden’s folicy initiatives. (I saw Biden claim he wrote the Inflation Reduction Act … the one thing we know is House legislation is written by an army of Congressional staffers, not El Presidente).
Home prices up 33.2% and purchasing power of US Dollar down -15.4% under Biden.
And like magic, Biden made $11,400 disappear from household income to pay for Bidenomics.
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