BIDEN ECONOMY: Inflation on the Rise – Americans’ Household Incomes Down | Joe Hoft


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BIDEN ECONOMY: Inflation on the Rise – Americans’ Household Incomes Down

The Biden economy is in a freefall and the American people are feeling it.

Americans’ income is decreasing thanks to the Biden economy.  According to the Census Bureau the median household income fell by 2.3% in 2022.

In addition, inflation is going up again.  The Daily Caller reported this morning.

Inflation rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.7%on an annual basis in August, compared to 3.2% in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to 4.7% in July. (RELATED: ‘Discouraging’: Small Business Owners Sour On Economy As Inflation Picks Back Up)

“This will be the second acceleration in a row, showing that inflation is anything but dead,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Although we’ve been told that inflation has been trending back towards 2%, that’s false. If anything, the annualized monthly data show it was trending towards 3% and is now climbing again.”

Wages are going down and inflation is going up.  This is the Biden economy and Americans are suffering from it. 

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