Joe Biden has reliably informed us that we are in the best economy ever and that inflation is at zero and everyone is in better shape than ever.
However, in reality, Americans are suffering more than ever.
A new report shows that an insane number of US households are behind on their energy payments.
From Bloomberg:
20 million across the country — about 1 in 6 American homes — ... have fallen behind on their utility bills. It is, according to the National Energy Assistance Directors Association (Neada), the worst crisis the group has ever documented. Underpinning those numbers is a blistering surge in electricity prices, propelled by the soaring cost of natural gas.
Just how high are these prices?
Yeah...
Thank Joe Biden for this wonderful economy that we are all thriving in!
California's PG&E Corp. has seen a more than 40% jump since February 2020 in the number of residential customers behind on payments. For New Jersey's Public Service Enterprise Group, the total is up more than 30% for customers at least 90 days late — and that's just since March.
The average price consumers pay for electricity surged 15% in July from a year earlier, the biggest 12-month increase since 2006. Regulation of electricity rates makes it hard for providers to immediately pass on higher fuel costs, so the recent hikes may be just the start.
The US is waking up to a problem that's plagued other parts of the world since last year. In Germany, the government slapped a levy of $296 on households to pay for natural gas as Russia squeezes energy flows to Europe after the invasion of Ukraine. In the UK, government support for energy bills doubled, to $482 for every household starting in October, but prices are rising so fast that the support might not be enough. More than 100,000 people have signed a pledge from campaign group Don't Pay UK to cancel their direct-debit energy payments beginning in October.
Maybe, just maybe, the Biden energy policy, like Europe's, is a complete disaster.
Ever consider that as a possibility?
But not to worry, it's only the poors who are going to lose their power and die. You know, the 1 out of 6 American households that can no longer afford to pay their power bill on time.
The elites are going to be okay!
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