Between prices rising faster than earnings and now higher interest rates drastically pushing up borrowing costs, the typical American family has gotten crushed financially – it's the equivalent of knocking about $7,800 off their annual income, compared to Jan '21: pic.twitter.com/VoUU3aRyqr
— E.J. Antoni, Ph.D. (@RealEJAntoni) June 12, 2024
- Inflation Impact:
- Inflation has indeed surged, with consumer prices up nearly 18% overall during Biden’s time in office.
- However, the impact varies based on individual circumstances, income levels, and spending patterns.
- Gasoline prices, for instance, increased by 29%.
Americans need an extra $11,400 today just to afford the basics, Republican analysis finds
Janet Yellen claims wages have risen more than inflation.
She omits the part about CPI being massaged, such as not accurately counting housing costs with fake data like “owners equivalent rent”.
— Wall Street Mav (@WallStreetMav) June 14, 2024