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ANN KENEVAN on May 21, 2024

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ANN KENEVAN

BIDENOMICS Cost-of-Living Inflation is a “hidden tax” that doesn’t discriminate – it hurts everyone alike, rich and poor. But it is particularly devastating to the poorest and most vulnerable members of society who spend a greater proportion of their income on necessities and have no way to counte... View MoreBIDENOMICS Cost-of-Living Inflation is a “hidden tax” that doesn’t discriminate – it hurts everyone alike, rich and poor. But it is particularly devastating to the poorest and most vulnerable members of society who spend a greater proportion of their income on necessities and have no way to counter its impact. Inflation is also a phenomenon that has “Made in Washington D.C.” stamped all over it, and this bout is no exception. Bidenomics has contributed mightily to the historic spike in inflation – particularly by adding another $5.5 trillion in new spending to an already bloated federal budget. Impact of Inflation on Ordinary People The results of the President’s fiscal folly were predictable. Since Joe Biden took office, overall prices are up 19.4%, and it costs American families $11,400 more per year just to maintain the quality-of-life they had in January 2021. The high cost-of-living is even forcing one-in-eight retirees to reenter the job market, according to a recent survey. As a retired nurse told Fox News, “If I want to continue to live my lifestyle, I needed to probably add a few more dollars to my budget. And so I felt like I had to go back to work.” Here is how much more Bidenomics is costing families in a few selected states: Wisconsin: $10,065 more annually Ohio: $9,884 more annually Pennsylvania: $9,404 more annually Montana: $12,216 more annually Nevada: $12,859 more annually Everything costs more because of Bidenomics, particularly a trip to the grocery store. As the old joke goes, with the price of food these days, it’s almost cheaper to eat money. But for working Americans, it’s no laughing matter. According to figures from the Bureau of Labor Statistics (BLS), since Joe Biden came into office, Americans are paying 26% more for chicken, 23% more for American cheese, 30% more for ground beef, 103%(!) more for eggs, 12% more for whole milk, 14% more for fruits and vegetables, and 24% more for potatoes. https://www.bidenomics.com/cost-of-living/

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Cost-of-Living www.bidenomics.com

May 21, 2024