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Goodbye, Bidenomics?
FYI: People can’t afford to pay their bills or buy a house.
“Americans Feel The Heat As Bidenflation Climbs Toward 20%,” the Tipp Insights editorial board wrote on July 13, 2024. “A key voter concern that can’t be hidden and is unlikely to cool.”
“The dark reality of Bidenomics is the alarming 19.5% inflation under the President’s watch, which is 5.7% annually,” Tipp’s editorial board complained. “When he took office, inflation was at just 1.4%. Since March 2021, inflation has consistently remained above the Federal Reserve’s 2% target for 40 consecutive months.”
“Under Biden, the federal debt has increased by $6.9 trillion,” explained the outlet. “To finance his spending spree, the Federal Reserve printed money from nothing. The increased money supply, without a corresponding increase in goods and services, reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.”
“Prices have increased by 19.5%, while real wages have declined by 1.8%. Average hourly earnings for all employees dropped 1.8% to $11.18 in June 2024 from $11.39 in January 2021, when Biden took office,” revealed Tipp Insights. “The typical U.S. household now requires $1,069 more each month (equivalent to $12,828 annually) compared to three years ago.”