It’s been over a year since America’s inflationary crisis began and the problem is still out of control.
And Joe Biden is only making things worse.
Now, one report reveals just how much money Biden’s inflation crisis is costing America.
After a year of one of the worst inflationary crises in American history, there is no end in sight.
While Joe Biden spent much of the latter part of 2022 bragging how he’d solved the problem, the truth is that the report from the Federal Reserve and the Bureau of Labor Statistics shows inflation for the first part of 2023 came in much worse than originally expected.
Now, the Federal Reserve is openly discussing raising interest rates again to help solve this crisis Biden says he’s fixed.
And to make matters even worse, a new report shows Biden’s inflation crisis is costing the average American household several thousand dollars more a year.
Fox Business reports, “With the cost of food, rent and gas marching higher, the average American shelled out a lot more money in order to keep pace with stubborn inflation last month.
The typical U.S. household needed to pay $395 more a month in January to purchase the same goods and services it did a year ago because of high inflation, according to new calculations from Moody’s Analytics.”
With the average household needing to pay almost $400 a month more for the same goods and services they were buying before, Americans are suffering from one of the worst fiscal disasters since the 2008 crisis.
On an annual basis, this adds up to over $4,700.
That’s money many households simply do not have.
“Although inflation recorded a modest slowdown on an annual basis in last month, it did not cool as much as economists expected, pointing to the pervasiveness of high consumer prices. The Labor Department recently reported that the consumer price index rose 0.5% in January, the most in three months. The annual inflation rate also surprised to the upside at 6.4%,” Fox Business reported.
With a higher CPI report showing inflation returning, Biden himself may end up being one of the last to suffer from the crisis he helped create – as the American people may throw him out of office.
