Income Tanks Nationwide Amid Biden’s Inflation

1276

The American people are truly paying the price for the bad policies and irresponsible spending of the Biden administration. Thanks to this president, the cost of living is going up, up, up. Americans across the board are being adversely impacted by high prices, supply shortages, and more. 

Despite the clear negative consequences stemming from Biden’s actions, he has no plans to stop. As a matter of fact, the 46th president plans to continue with his fiscal irresponsibility, despite what the outcome is. 

The outcome appears to be getting worse and worse as time passes. A new report from Breitbart News shows that income for Americans has largely declined, thanks to Biden’s inflation. 

The Inflation President

When Biden ran for office, he pledged to “build back better.” However, all this president has really been doing is tearing down the economy. 

Last month, the average earnings per hour for workers fell by 0.1%. The average earnings per week also dropped from $335.60 to $334.09; this decline happened even though the average number of hours worked by Americans did not change. 

From an economic standpoint, it is very clear to look and see what is happening here. Following inflation, income earned by Americans is getting lower and lower each month. This is because of the unfortunate reality that the Consumer Price Index has increased by 0.6%.

An increase of this nature means that inflation is counteracting any income gains most people experience. 

Putting a Stop to Inflation in America

Left unchecked, inflation will devalue the American dollar and absolutely ruin the U.S. economy. This is why putting a stop to inflation in America is so deeply paramount. 

One key step to stopping inflation is Republicans pushing back against more policies that would engender inflation. Biden’s infrastructure bill is one prime example. Despite the bill being branded as infrastructure on paper, it has little to do with infrastructure in reality. 

Most of the legislation entails more spending, higher taxes, and regulations that will ruin businesses. Now, the current wave of inflation is a result of Biden’s $1.3 trillion American Rescue Plan; the last thing this nation needs is a 2.0 version of this. 

Labor shortages are also a very real issue, as inflation continues to grip the nation. Thanks to Biden’s $1.3 trillion spending bill, more Americans are incentivized to turn down job opportunities and instead collect a government check. 

Just as the Biden administration remains in denial about the harmful impacts of the American Rescue Plan, it’s also in denial about the existence of inflation. 

Do you believe that President Biden is ruining the United States with inflation and other harmful impacts upon the economy? Let us know your thoughts about rising costs and more in the comments section below.