Joe Biden is traipsing about the country with the lie on his lips that “Bidenomics” is working. But even CNN was forced to point out that every American family is spending at least $709 more for the same goods as they spent in July of last year.
So, Joe Biden has stolen away nearly $1,000 a month from every family just so they can live the same way they did a year ago. Not better. Just the same. It is costing families an additional $709 a month to merely tread water.
Yeah, that’s a big success, Joe.
That figure underscores the cumulative impact high inflation has had on consumer finances — even as price growth has cooled considerably in recent months.
“High inflation of the past 2+ years has done lots of economic damage,” Mark Zandi, chief economist at Moody’s Analytics, wrote in a post on X, the platform formerly known as Twitter.
Most of that increase in spending is driven by housing costs, which have surged, Zandi told CNN in an email on Friday. He added that families are also spending more at the grocery store; on buying, maintaining and insuring vehicles and on recreational services like cable.
“Even though prices have soared, real earnings, which adjust for inflation, are stuck at late 2019 levels.,” CNN added.
So, Biden’s economy is putting a serious strain on every family in America.
Biden is the most destructive president we have had since Jimmy Carter.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with iPatriot
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