Democrats have wiped out three years of wage gains for average Americans through inflation. Working families are watching their budgets shrink and prices climb.

The Washington Post: On average, ALL hard-working Americans took a pay cut last year due to inflation:

• “…The same strong economic recovery that is emboldening workers is also driving up inflation, leaving most Americans with less spending power than they had a year ago.”

• Workers say “despite considerable pay raises — as much as 33 percent, in some cases — they were still struggling to cover basic expenses. 

• “Several workers said they had taken second jobs to keep up with rising costs for groceries, gas and rent. And many said their budgets will be even more strained once student loan payments resume in May.”

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The Wall Street Journal: 

• “To stretch their dollars, people increasingly are comparing prices at various stores and signing up for savings programs such as automatic delivery that give additional discounts.”

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THE BOTTOM LINE: Americans are spending more of their hard-earned paychecks to keep up with President Biden’s tax-and-spending induced inflation. 

ADDITIONAL TAKEAWAYS:

• In a recent New York Times survey, the overwhelming majority of workers reported their paychecks can’t keep up with Bidenflation.
• Since May, the average family has lost about $377 a month, or three years of real wage growth, under President Biden.
• Due to Bidenflation, American families spent $3,500 more in 2021 to achieve the same level of consumption of goods and services as in previous years (2019 or 2020). 
• In October, analysis from the Federal Reserve Bank of San Francisco confirmed that the Biden Administration’s $1.9 trillion emergency spending in early 2021 increased Bidenflation.

READ: Americans Anticipate Inflation Will Rob Their Paychecks for the Next Year