With Bidenflation on the Rise, American Families are Falling Behind
With consumer prices at a 13-year high, Bidenflation is growing faster than paychecks, wiping out workers’ wage gains, and leaving American families behind.
Even former Obama-Biden economic czar Steven Rattner has admitted that wage increases will ‘mean nothing’ for American families if inflation increases.
Though Democrats will call this inflation ‘transitory,’ cash-strapped Americans at the grocery checkout counter will have to stretch their budgets to deal with these higher prices.
It’s time for Democrats’ emergency spending and endless government checks to come to an end.
Democrats’ Stealth Tax Steals Workers’ Paychecks:
- After the June CPI report showed another dramatic surge in consumer prices, 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, and inflation disproportionately hurts the poor.
Higher Prices Are Here to Stay:
- Last month, prices increased 5.4 percent from a year ago, the highest 12-month rate since August 2008.
- Many economists now expect higher inflation to stick around.
Middle-Class Americans Trust Republicans over Democrats on the Economy:
- 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