America’s inflation catastrophe continues to wreak havoc on the economy.
Now, one stunning report just exposed the true scale of how bad inflation has gotten for Americans.
And the results just delivered a crippling blow to Joe Biden’s agenda.
Since taking the reins of power, Joe Biden has done everything possible to not only leave inflation unchecked but make it catastrophically worse.
From one trillion-dollar spending bill after another to a several-hundred-billion-dollar student loan bailout that American taxpayers have to foot the bill for, to a radical climate agenda that involves driving up gas prices and shutting down refineries and oil wells across America, Biden has worked tirelessly to drive up the cost of goods and services in America and drive down the value of the US dollar.
And now, after two years of “Bidenomics,” the disastrous result of his economic policies has finally reared its ugly head.
And the crippling tidal wave of inflation that has swamped over the American people has finally seeped its way into almost every corner of the American economy that it possibly can.
The Hill reports, “High inflation is increasingly creating major strains on all Americans, including those with higher incomes than others, according to a Wall Street Journal poll.
“The poll, which was conducted for the paper by John Anzalone and Tony Fabrizio, the chief pollsters for President Biden and former President Trump, respectively, found that 26 percent of registered voters with household incomes between $100,001 and $150,000 said inflation is creating major financial strains for their families.
“That figure is up from 19 percent in August and 14 percent in March.”
The results of this poll are nothing short of a stunning blow to Biden and his agenda, as he hoped that inflation would never get this bad so he could continue to blow trillions of dollars buying support for his own re-election bid in 2024.
But with inflation showing no signs of slowing down, Biden is having to confront the economic reality in a way that no Democrat has before.
What’s more, the result of this latest survey on inflation shows that working-class Americans are being squeezed by an eroding dollar even more than the middle and upper classes.
“Fifty-four percent of Americans with household incomes of $60,000 or less also indicated major financial strains, up from 51 percent in August and 47 percent in March,” adds The Hill.
Biden knows that inflation is largely his fault too, as the inflation rate was far below 3% when he took office.
But since 2021, he has pursued an aggressive inflationary fiscal and monetary policy that resulted in the value of the US dollar dropping like a rock at the same time that he worked to shut down critical investments in basic energy production sources to power the American economy.
And now, Americans across the board are having to deal with the consequences of Biden’s own actions in the form of the highest level of inflation seen in more than two generations.