For many Americans, the Biden Presidency has brought with it a feeling of déjá vu. Iran is back in the headlines, prices at the gas pump are causing sticker shock, and inflation is at the top of everyone’s minds. The last time inflation was this high was shortly after President Jimmy Carter left office, voted out by Americans fed up with seeing the value of their paychecks shrink every month. Joe Biden’s presidency has frequently been compared to the malaise of the Carter era. In the 1970s, Americans felt that our country was doomed to permanently decline from its former greatness. Today, America is overwhelmed by the crises created by President Biden and Washington Democrats – record inflation, unchecked violent crime, high gas prices, record illegal crossings at the southern border, and the list goes on. Despite these comparisons, the truth is Joe Biden is giving Carter a run for this money when it comes to delivering the worst inflation crisis in living memory.
budget.house.gov/press-release/smith-op-ed-joe-bidens-inflation-crisis-is-worse-than-jimmy-carters/
Since President Biden took office, inflation has increased 16.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Grocery (food at home) prices have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Food away from home prices have increased 18%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Energy prices have increased 38%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Prices for fuel oil have increased 45%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Gasoline (all types) prices have increased 52%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Natural gas prices have increased 20.7%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Electricity prices have increased 26%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Rental prices for a primary residence have increased 15.6%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Prices for used cars and trucks have increased 35%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Prices for new vehicles have increased 20%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Furniture prices have increased 18.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Apparel prices have increased 10.8%. (Bureau of Labor Statistics, Accessed 7/12/2023)
- Airline fares have increased 39%. (Bureau of Labor Statistics, Accessed 7/12/2023)
How bad has the US debt crisis become?
The US government has issued a whopping $11 TRILLION of debt over the last 4 years.
By comparison, it took the US 220 years to add the first $11 trillion of Federal debt.
Within the next 2 months, total US debt is on track to cross above… pic.twitter.com/ntFOdZJ1Hk
— The Kobeissi Letter (@KobeissiLetter) April 28, 2024