American workers have lost $3,400 in annual wages in the past 18 months due to President Joe Biden’s 40 years of inflation, according to an expert at the Heritage Foundation.
EJ Anthony, a research associate at the Heritage Foundation, told Fox Business that a family with two working parents loses $6,800 in annual salaries.
“I can’t stress enough how devastating this really is to consumers,” Anthony said of his assessment.
“HE [inflation] It’s really crushing the middle class, and then a White House spokesperson said on the air these nonsensical statements like “the economy is in transition.” – Continuing in the same way, I believe the iceberg made the Titanic submarine.
The White House said inflation will help consumers switch to more expensive renewables because the cost of fossil fuels is a major contributor to Biden’s inflation.
Inflation rose to 9.1 percent year-on-year in June on Wednesday, according to the Labor Department. This is the highest rate since 1981. Biden to be able to Inflation in the office was 1.4 percent. Breitbart News reports:
Compared to the previous month, the Bureau of Labor Statistics CPI increased 1.3 percent.
Economists expect the consumer price index to rise 8.8% year-on-year, compared to 8.6% in May. They expect an increase of 1.1 percent compared to the previous month.
Inflation is taking a toll on American families, raising the prices of essentials like food, fuel, shelter, transportation and utilities. The huge increase in fuel prices in June, which reached new record levels several times a month, started to reduce the expenditures of households and businesses on other expenditure items.
According to Moody’s analysis in June, Biden’s 40 years of inflation will cost the US household an average of $5,520 in 2022, or an additional $460 per month. In March, this estimate was lower. According to Bloomberg estimates, families will be charged an additional $5,200 or $433 per month.
The survey shows that 74 percent of respondents said Biden’s high gas price was a “very important” factor in how they voted in the midterms. Biden’s approval of gas price management is only 27 percent.
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Source: Breitbart
