Inflation skyrocketed after President Biden’s “COVID stimulus” forced small business owners to raise prices as government spending worsened inflation, a worker shortage left them desperate for workers, and looming tax hikes threatened their futures.
A new chart from TheRightFacts.org uses Consumer Price Index (CPI) data from the Bureau of Labor Statistics to show that inflation has increased since the day President Biden took office in January 2021, and began its rise to the fastest rate in 40 years the month directly after Democrats rammed through their partisan $1.9 trillion bill (March 2021).
CLICK HERE to view the chart.
- President Biden and Democrats ignored inflation, denied it, dismissed it as “transitory,” and are even trying to pass the blame for rising costs onto American businesses and industries like meatpackers and energy suppliers.
- Small business owners are struggling to manage their businesses and hire workers after Democrats paid people more to stay home than to work, threatened devastating tax hikes, and worsened inflation with endless government spending. Surveys report more than 60 percent of Main Street business owners have raised prices to keep up with inflation.
- President Biden bungled the economy and American families are paying the price. For working Americans, in just one year, Democrats wiped out three years of lost wages through inflation, and economists are warning the U.S. is at a risk of a wage-price spiral, which always ends poorly for workers and the economy, and inevitably ends in a recession.