More Lies: Joe Biden’s Magic 0% Inflation Is Costing American Families an Additional $717 a Month (Video)
Last week Joe Biden told Americans the inflation rate was at 0%.
This was a bold-faced lie. The current Biden inflation rate is at 8.5%. This is a 40 year high.
Joe Biden doesn’t care that he lies to you.
Biden: “Before I begin today, I want to say a word about the news that came out relative to the economy. I want to say a number. Zero. Today, we received news our economy had 0% inflation in the month of July. 0%.” pic.twitter.com/wNfR8jRIQj
— Tom Elliott (@tomselliott) August 10, 2022
The fake news mainstream media did not bother to correct Old Joe.
A new report found that the Biden inflation is costing American households an extra $717 a month.
This is a national crisis!
That figures out to $8,607 per family, per year!
BIDEN’S ECONOMY: Inflation is costing the average American an additional $717 A MONTH. pic.twitter.com/HnvCXqgBGT
— RNC Research (@RNCResearch) August 15, 2022
FOX Business Network reported:
Even if prices stopped increasing altogether, the inflation that already occurred between August 2021 and July 2022 would cost the average American household an extra $8,607.
Scorching-hot inflation has created severe financial pressures for most U.S. households, which are forced to pay more everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily impacted by price fluctuations.
Although American workers have seen strong wage gains in recent months, inflation has eroded those entirely. Real average hourly earnings actually decreased 0.5% in July from the previous month when accounting for higher consumer prices, according to the Labor Department. On an annual basis, real earnings actually dropped 3% in July…
… President Biden – who has been on the defensive for months over skyrocketing prices – lauded the cooler-than-expected report as evidence that inflation “may be beginning to moderate,” But experts have cautioned that inflation remains abnormally high and could take months, or even years, to return to pre-pandemic levels.
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Author: Jim Hoft