American families have lost $6,000 in annual wages thanks to Joe Biden’s soaring inflation, a Heritage Foundation study revealed over the weekend.
American families have lost $6,000 in annual wages thanks to President Joe Biden’s soaring inflation, a Heritage Foundation study revealed over the weekend.$4,200 in annual wages under Biden.Fox Business. “It’s not the price of caviar and yachts that are driving these numbers. It’s necessities, it’s staples. It’s things like eggs, milk, flour, soup. These are things that are up 20 or 30 percent year-over-year.
“All of those additional costs are now creeping into the rest of the economy, essentially,” Antoni added. “I really don’t see much good news any 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 in September rose 8.2 percentup 0.4 percent, twice what forecasters had expected.
“Inflation was 1.4% when Biden took office — it was essentially non-existent,” Antoni continued. “And somehow, in just 18 months, he ran it up to 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 22 days until election day. Democrats must make the case why they should remain in power.
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