Fact Check: American Workers See Largest Decline in Real Wages Since Data Began Being Reported
With consumer prices jumping almost 8 percent in February, the Biden White House was quick to pin the price hike on Russian dictator Vladimir Putin. This follows House Democrats repeating the White House’s debunked “price gouging” and “corporate greed” myths for weeks.
American families who are falling further behind know well that inflation has been eating away at wages long before Russia’s invasion.
Here are the facts:
- American workers have seen the largest decline in real wages since the data began being reported.
- Inflation is accelerating as it is averaging an annualized rate of 10 percent for February, up from 8.4 percent for the prior three months and 8.3 percent for the past six months.
- Working families paying rent or buying groceries are getting crushed thanks to Democrats’ policies that have wiped out three years of wage gains.
As the Washington Examiner editorial board writes:
“[…] Biden has a new inflation boogeyman, and he thinks this one will stick. Of course, that is Russian President Vladimir Putin. […]
“Never mind that gas prices had already risen 75 percent before Putin even invaded Ukraine. Never mind that inflation hit a 40-year high before the invasion. Never mind that Republican voters are just as supportive of banning Russian oil imports as Democrats are. All that matters is that now, whenever any voter complains about inflation, Biden will blame Putin because, hey, maybe that will get people off his back.”
CLICK HERE to read the full op-ed.