Fast food prices have skyrocketed under the Biden administration, outpacing grocery bills and gas prices, according to Axios. Since before the pandemic, prices have surged by 31%, while average hourly earnings have only climbed 25%. It’s the cost of living crisis, plain and simple. Biden, the Democrats, and the media seem oblivious to the fact that voters are worse off than they were three years ago. Despite their rosy claims, Americans feel the economic strain acutely.
President Biden and the corporate media grow increasingly frustrated, failing to comprehend why Americans reject their assurances of a strong economy. New York Times columnist Paul Krugman, a Nobel laureate in economics, dismisses public pessimism as a ‘vibecession.’ Yet even the Federal Reserve’s Economic Well-Being survey highlights that many adults struggle with higher prices. Since Biden took office, the seasonally adjusted Consumer Price Index (CPI) has risen over 19.4%.
Larry Summers, former economic advisor to Clinton and Obama, reveals the government is underreporting inflation. Using a more traditional calculation, inflation would have peaked at 18% in November 2022, not the official 8.6%. This discrepancy underscores the reality: the true economic pain Americans feel is far worse than official numbers suggest. Meanwhile, 1 in 7 American kids live in poverty, a stark reminder of the ongoing economic crisis.
Fast food restaurants have had the sharpest price hikes during the Biden administration, higher than grocery bills & gas prices, per Axios.
The average price of has outpaced wage gains for workers since before the pandemic.
Prices are up 31%, average hourly earnings up 25%.
— unusual_whales (@unusual_whales) May 27, 2024
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