Democrats are in denial on how their runaway spending is shrinking the paychecks of America’s working families.

According to a report by NBC:

“Inflation doesn’t matter. That’s the message Democratic leaders are sending as they try to push more than $4 trillion into the economy to build infrastructure, fight climate change and ease the financial cost of child and elder care for families.”

This comes after President Biden suggested that his massive, multi-trillion dollar spending spree will “reduce inflation.”

Last week, President Biden said “no serious” economist is predicting spiraling inflation. But Treasury Secretary Janet Yellen has predicted Americans will face “several more months of rapid inflation.”

With Bidenflation on the rise, American families are falling behind, and the last thing they need is higher taxes to pay for Democrats’ runaway spending.

KEY TAKEAWAYS:

Bidenflation Steals Workers’ Paychecks:

• Steven Rattner, a top Obama-Biden economic recovery czar tweeted: “Recent wage increases will mean nothing for workers if inflation escalates.”
• Real wages have declined since President Biden took office.
• Higher prices, due to inflation, disproportionately hurt the poor.

WATCH: How Biden Failed His Six-Month Economic Report Card

Higher Prices Are Here to Stay:

• For cash-strapped families, Bidenflation isn’t as transitory as the White House claims.
• In June, consumer prices increased by 5.4 percent, the most in 13 years.
• In fact, inflation surged past the Congressional Budget Office’s forecasts, and many economists now expect higher inflation to stick around.

READ: CBO Shows Bidenflation Surges Over Forecasts as Experts Sound Alarms

Middle-Class Americans Are Concerned About Bidenflation:

• According to Harvard CAPS/Harris polling, an overwhelming majority of Americans are concerned about inflation.
• A recent survey conducted by Third Way/ALG Research found that majority of Americans don’t trust Congressional Democrats’ handling of the economy.
• A bipartisan majority of Americans agree now is not the time to raise taxes.

READ: Majority of Americans Think Biden’s Booming Economy Is a Bust