Guys, I don't know if the Democrats know this, but most of us don't just have unlimited funds and taxpayer money to support us paycheck to paycheck.
So, when they see headlines like this one from CBS, what has to go through their brains?
"Best economy ever, Jack!"
The typical American household must spend an additional $11,434 annually just to maintain the same standard of living they enjoyed in January of 2021, right before inflation soared to 40-year highs, according to a recent analysis of government data.
If you haven't received a raise of $11,434 dollars since January of 2021 (that's AFTER the pandemic, by the way, when Biden first took office), then you are poorer now.
And, I don't know about you, but most average Americans haven't received raises QUITE that generous.
You know why? Bidenflation. That's why.
Meanwhile, The White House wants us to think we're better off than EVER economically, and that it's all fake news making us think we're poorer.
To quote Biden, "That's not hyperbole, that's a fact." Here was Joe Biden telling us how he's saved us from inflation before Thanksgiving:
Everything costs more and you aren't making that much more money (if you're making any more, that is).
Average hourly pay for workers has increased robust 13.6% since January 2021, although that lags the 17% increase in inflation during the same period, according to government data. The main categories requiring heavier spending for consumers simply to tread water: food, transportation, housing and energy, which together account for almost 80 cents of every $1 in additional spending, according to the analysis from Republican members of the U.S. Senate Joint Economic Committee.
Americans are continuing to fall behind. It's just unaffordable to live in Biden's America.
"Middle- and low-income Americans aren't doing well enough — they are living fragilely on the edge," said Gene Ludwig, chairman of the Ludwig Institute for Shared Economic Prosperity (LISEP), a think thank whose own analysis found that the income needed to cover the basics fell short by almost $14,000, on average, in 2022.
Yeah, this sounds even more worrying.
Lower-income folks need to make $14,000 more a year, more than an extra $1,000 a month, just to get by. For many, that means having to take a second job.
(Which helps explain the high employment numbers Biden brags about.)
And, even with inflation "slowing down" but still rising at an annual rate over 3%, prices aren't suddenly about to fall.
Although inflation is cooling, many consumers may not be feeling much relief because most prices aren't declining (One major exception: gas prices, which are notoriously volatile and which have declined about 5% in the past year.) Consumers are still paying more, albeit at a slower pace, on top of the higher prices that were locked in when price hikes surged in 2022 and earlier this year.
More money in your wallet, Jack!
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