Politics

Joe Biden’s Economic Disaster Costing Average American $6,000 Extra for Necessities

According to analysts, Joe Biden’s disastrous economy is going to cost the average American a brutal $6,000 more in everyday necessities this year.

Biden truly is destroying this country, and he’s doing such an expert job it is hard to deny those who claim he is doing it on purpose.

According to the Daily Mail:

The typical American household will spend $5,915 more on everyday items this year than in 2021, with inflation running at a 40-year high and stinging prices at gas pumps and grocery store checkouts, DailyMail.com can reveal.

Householders are spending nearly $493 more each month to buy the same items they were buying a year ago, said Moody’s Analytics economist Mark Zandi, who studied the latest U.S. government price data

he Federal Reserve is racing to raise interest rates to try and slow down the out of control price hikes, but that will only worsen the recession in the near term.

The Mail added:

Against this gloomy economic backdrop, DailyMail.com examined the latest data from the government’s Bureau of Labor Statistics (BLS) and found the 45 items that were most frequently burning a hole in American pockets.

We then calculated how much the same items would cost had inflation stayed at the Federal Reserve’s target 2 percent rate — not the runaway hikes we’ve seen this past year — to indicate ‘normal’ prices for the same items.

Our table shows how consumers are spending additional hard-earned dollars on everything from pantry staples like eggs, bread and baby food to used cars, furniture and board games

(This link may be easier to read)

Inflation has not been this bad since Ronald Reagan inherited the depressed Jimmy Carter economy in 1980.

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston

Cross-posted with iPatriot

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Warner Todd Huston

Warner Todd Huston has been writing editorials and news since 2001 but started his writing career penning articles about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN, and several local Chicago News programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a "target rich environment" for political news.

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