Biden Inflation May Cost Average US Family Extra $11,500 This Year
Americans are set to pay an extra $11,500 this year if they want to enjoy the same standard of living they maintained in 2020, according to new estimates from NerdWallet....
Analysts said 2020 was the “last full year when inflation was relatively stable.” In that year, the U.S. inflation rate was 1.23 percent.
As of August, inflation in the United States stands at 8.3 percent, according to BLS data....
“In all of 2020, American households spent $61,300, on average,” the analysts wrote. “This number includes everything we spend our money on housing, food, entertainment, clothing, transportation, and everything else.
“In 2022, it stands to reach $72,900, a difference of more than $11,500 if consumers want to maintain the same standard of living.”...
A separate analysis from the Republican members of the House Joint Economic Committee estimates that inflation is now costing U.S. households an extra $717 each month, although that’s even higher in the states of Colorado ($937)...
Related
David Horowitz reports in The Progressive Threat that:
What, then, could the Democrats be thinking in pouring fuel on the fires of inflation? The Biden Democrats who have poured trillions of dollars into an already heated economy look on the United States Treasury as a bank that can be robbed. As progressives, they feel licensed to rob the nation's bank by the nobility of their mission, which is to save the planet. In their eyes, the money represents the fruits of exploitation made possible by a "white supremacist" capitalist system. In such a system, money is not earned but is extracted by socially sanctioned power. This is a system which they are pledged to destroy.
"Have They Gone Completely Mad?" They Know That They Are Killing The Economy, But They Are Doing It Anyway, by Michael Snyder via Economic Collapse Blog, ZeroHedge, 24 September 2022.
The History Books Will Prove This is an Industrial Example of The Great Pretending, The Last Refuge, 24 September 2022.