American households are paying $5,200 extra in inflation this year to purchase the same basket of goods as last year, thanks to President Biden and Democrats’ policies.
Democrats pushed for programs that fueled inflation:
- Inflation has increased every day since President Biden took office and took off rising at the fastest rate in 40 years the month directly after Democrats rammed through their partisan $1.9 trillion bill.
- Economic experts and the San Francisco Federal Reserve have warned that Democrats’ policies – like monthly government stimulus checks and unemployment bonuses – have directly increased inflation.
- In President Biden’s latest budget, Democrats’ proposals will make inflation even worse by doubling down on crippling tax hikes that hit working families and Main Street businesses, including in the form of higher prices.
American households are paying the price:
- Inflation is a tax and it’s hitting all Americans, especially low-income and minority Americans. President Biden is directly violating his promise not to raise taxes on Americans earning less than $400,000.
- With inflation outpacing paychecks and higher costs being passed onto American families at every turn, the U.S. economy is on the brink of, or already in, a wage-price spiral, driving inflation even higher.
- American workers have seen the largest decline in real wages since the data began being reported.