Indeed! Wake up America!
Time to free America from Bidenomics
This Fourth of July felt particularly ironic. We celebrated the anniversary of America’s Founding Fathers declaring independence from a monarchical ruler, yet we find ourselves in a similar situation today.
While the Founders risked everything to free the country from tyranny and succeeded in doing so, President Joe Biden has reversed their advances in liberty. His stifling regulations, disregard for constitutional order, and massive subsidization of the activist Left mean that people remain burdened by the whims of the chief executive.
In 2021, Biden inherited an economy that had largely recovered from the COVID-19 pandemic, with annual inflation at a mere 1.4%. He and his allies in Congress proceeded to launch a campaign of reckless “stimulus” spending and economic micromanagement on a scale that King George III could have never imagined.
The Biden administration’s executive actions and administrative choices have cost more than $700 billion. In just 3 1/2 years, the gross national debt has increased by more than $7 trillion, or roughly $53,000 per household. The annual interest payments alone on that debt are now more than $1 trillion.
Hardworking people are paying a heavy price for the Bidenomics agenda, which unleashed the highest inflation in 40 years and forced up interest rates.
Prices have risen so fast under Biden that despite the average worker’s weekly pay increasing more than $150, that larger paycheck buys about $40 less. For the typical family with two parents working, this lost purchasing power is the equivalent of losing almost $4,300 in annual income.
Adding insult to injury, higher interest rates have increased borrowing costs on everything from mortgages to credit cards, and from student loans to auto loans. The deadly combination of high prices and higher interest rates has caused the total cost of purchases to explode.
For example, the monthly mortgage payment on a median-price home today has increased 120% since January 2021.
The typical family’s lost purchasing power from inflation and higher borrowing costs have together cost them the equivalent of almost $8,000 in annual income. Bidenomics has dug quite a deep hole for the average person’s finances.
www.washingtonexaminer.com
Time to free America from Bidenomics
This Fourth of July felt particularly ironic. We celebrated the anniversary of America’s Founding Fathers declaring independence from a monarchical ruler, yet we find ourselves in a similar situation today.
While the Founders risked everything to free the country from tyranny and succeeded in doing so, President Joe Biden has reversed their advances in liberty. His stifling regulations, disregard for constitutional order, and massive subsidization of the activist Left mean that people remain burdened by the whims of the chief executive.
In 2021, Biden inherited an economy that had largely recovered from the COVID-19 pandemic, with annual inflation at a mere 1.4%. He and his allies in Congress proceeded to launch a campaign of reckless “stimulus” spending and economic micromanagement on a scale that King George III could have never imagined.
The Biden administration’s executive actions and administrative choices have cost more than $700 billion. In just 3 1/2 years, the gross national debt has increased by more than $7 trillion, or roughly $53,000 per household. The annual interest payments alone on that debt are now more than $1 trillion.
Hardworking people are paying a heavy price for the Bidenomics agenda, which unleashed the highest inflation in 40 years and forced up interest rates.
Prices have risen so fast under Biden that despite the average worker’s weekly pay increasing more than $150, that larger paycheck buys about $40 less. For the typical family with two parents working, this lost purchasing power is the equivalent of losing almost $4,300 in annual income.
Adding insult to injury, higher interest rates have increased borrowing costs on everything from mortgages to credit cards, and from student loans to auto loans. The deadly combination of high prices and higher interest rates has caused the total cost of purchases to explode.
For example, the monthly mortgage payment on a median-price home today has increased 120% since January 2021.
The typical family’s lost purchasing power from inflation and higher borrowing costs have together cost them the equivalent of almost $8,000 in annual income. Bidenomics has dug quite a deep hole for the average person’s finances.
Time to free America from Bidenomics - Washington Examiner
President Joe Biden has reversed the Founding Fathers' advances in liberty.
www.washingtonexaminer.com
