Inflation is the hidden tax placed upon us all by the Government. They pay their debts (OUR debts, technically) with cheaper money while OUR expenses go way up. For instance:
From our friends at the Committee to Unleash Prosperity, some measures of the magnitude and persistence of inflation under President Biden and previous presidents. But remember, Joe told us that “Milton Friedman isn’t running the show any more.” Someone forgot to tell this to inflation.
Average Year over Year inflation rate for all months of their terms:
Biden: 5.7%
Trump 1.9%
And for the mathematically challenged out there, that 3.8 difference is HUMONGUS! Since Biden took office, the aggregate inflation rate is 20-30% overall. Do you like only 2/3rds of your Trump candy bar? How about the cost of gas (especially if you factor out the Emergency Gas Reserves shuttlecocks he opened to lower the price for the elections)? And while I’m loving the capital appreciation of my home, not so great for our kids, right?
Under Trump, wages rose well above the rate of inflation, especially for the underclass. Under Biden, they’ve been outpaced by his inflation. Who has been hit hardest?
Women and children
Sorry, I just wanted to use one of the favorite Leftist Journalism headlines there. But really, we all have been in the middle and lower classes.
Biden has been a disaster economically.
