Heritage Foundation revealed a study over the weekend, that shows American families have lost $6,000 in annual wages that is credited to President Joe Biden’s soaring inflation (Bidenflation).
The loss in wages represents a $1,800 increase, just since September, when American families had lost $4,200 inannual wages under Biden.
Heritage fellow E.J. Antoni told Fox Business, “People are just absolutely being crushed. It’s not the price of caviar and yachts that are driving these numbers. it’s necessities, it’s staples. Things like eggs, milk, flour, soup. These are things that are up 20% or 30% year-over-year.”
Antoni added, “All of those additional costs are now creeping into the rest of the economy, essentially. I really don’t see much good news anywhere I look, unfortunately.”
Inflation is at record highs despite Biden’s attempt to reduce inflation through the so-called “Inflation Reduction Act,” which some experts say was not intended to reduce soaring costs. The Consumer Price Index (CPI) in September rose 8.2% compared to a year earlier. Compared to a month ago, prices were up 0.4%, twice what forecasters had expected.
Antoni continued, “Inflation was 1.4% when Biden took office, it was essentially non-existent, And somehow, in just 18 months, he ran it up over 9%. Again, it really is like these people live in a fantasy world. It’s mind-boggling.
The loss in real wages comes as Democrats are trying to retain control of the Senate with just 21 days until election day. Democrats must make the case why they should remain in power.
Last Thursday, President Biden claimed in Los Angeles that the number one issue in every Senate battleground state, saying, “If Republicans win, inflation’s going to get worse. It’s that simple.”
According to recent polling, 67% of voters in Senate battleground states are dissatisfied with the direction of the nation after nearly two years of Democrats controlling the administrative state, legislative branch, and executive branch of the federal government. Only an average of 23% of voters in Senate swing states say the nation is headed in the correct direction.
The polling indicates the midterm election could be a referendum on Democrats and their massive spending and war on American energy. Both issues have fueled soaring costs.
Another recent poll found 66% of independents believe Biden has “somewhat” or “strongly” mismanaged the economy. Only 27% of independents approve of Biden’s management.
We appreciate our friends at Patriot Alerts for content in this article.
Support The DC Patriot at the links below
FaithNFreedoms.com – Our Apparel Brand
OurGoldGuy.com – Tell them Matt Couch Sent you!
PreparewithMatt.com – Long lasting food from our friends at My Patriot Supply
Patreon.com/MattCouch – Support our work on Patreon
Give Send Go Support my work on Give Send Go