OPINION: Why no one should rejoice over Biden's still-awful inflation numbers
You can now listen to Fox News articles!, the latest inflation data is cause for celebration, like an early Christmas gift to America. Yet nothing could be further from the truth. Inflation is still crushing American families, and there’s no financial cause for rejoicing—a sad situation during the holiday season.
The administration’s claims to be winning against inflation fly in the face of their own data. Since Biden took office, prices have risen 13.8 percent. In fact, prices have risen so much faster than wages that the average family has lost $5,800 in real annual income . Conversely, real incomes rose $4,000 under President Trump.
Add on to that the increased borrowing costs resulting from higher interest rates, and the average family is effectively $7,100 poorer today than when Biden became president.
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