Posted on 11/05/2023 5:20:26 PM PST by NetAddicted
Over $33,000 in real wealth is what the average middle-class household has lost in just the past year, tweets @GOP.
The average middle-class household has lost over $33,000 in real wealth in just the past year.
— GOP (@GOP) November 5, 2023
Prices are rising. The Bureau of Labor Statistics reports that the inflation rate, which measures price increases of goods and services, increased by 3.7 percent from September 2022 to September 2023. That recording is more than 1.5 percent higher than what the Federal Reserve has stated is the "goal" for year-over-year inflation, 2 percent.
Prices have been rising. Of the 31 inflation recordings, which are published by the BLS on a monthly basis, since President Joe Biden took office, 22 of them were 5 percent or higher; 16 of them were 6 percent or higher; 11 of them were 7 percent or higher; and 8 of them were 8 percent or higher. There truly are not enough negative adjectives in a dictionary to describe the inflation story since President Biden took office.
This is a result of failed economic policies. Democrats, who have wielded most legislative ability in Washington, D.C. over the past two and a half years, have not attempted to apply working solutions to remedy what is an economic disaster. If high inflation is too much money chasing too few goods and services, then it stands to reason that cutting spending would be a solution. But Democrats have sought to spend more. They could have cut taxes to reduce the financial burden on everyone (consumers and employees), but they continue to push tax increases. One example of the Democratic legislative agenda is the counterintuitively entitled "Inflation Reduction Act."
There is no legitimate reason not to try cuts to wasteful federal government spending; or to try tax cuts for individuals and businesses (businesses that employ individuals); or to try deregulating so that needless bureaucratic red tape is eliminated; or to unleash U.S. energy production capability. At the very least, more spending, tax increases, more regulation, and more constraint of U.S. energy production capability should be stopped.
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Just sickening.
Yet, the lying MSM won’t report on this.
Every time they tell us they’re giving away hundreds more billions to foreign countries, your gas, food bills, clothing, EVERYTHING you pay for increases in price.
They’re choking us off.
But admit it, Americans didn’t have to read Trump’s mean tweets.
Or know that people with the freedom to drive cars with low cost gas were adding to the climate change crisis.
Gas was averaging $1.80-1.87 per gallon as Trump left office.
RE: They’re choking us off.
Putting it that way (metaphorically) two can play that game.😡
You can just see the Middle Class being decimated in this country. The rich will stay rich. The poor will stay poor. The Middle Class is moving down, swelling the ranks of the poor. Then the Lords will have more serfs to control in the New Feudal Age.
If one thinks this is bad just wait a couple years when the GOPe/Xiden combo spends another $4 trillion over budget from printed money. The MSM will blame President Trump in 2026 of course, anybody can predict this.
True, stocks are down because interest rates are up. However, I’m getting a good interest rate on my my cash and 2-year Treasuries.
I hate how the media writes headlines.
The middle class was a fluke in a short glimmer of history. America had a sweet spot post WW2, and threw those advantages away. All that’s left is the political parties fighting over the crumbs of the republic, while America continues to fade away. Each party throwing the future away to their special interests, and at that same time people lining up vote and support such parties.
From today:
If Trump wins, more voters foresee better finances, staying out of war — CBS News poll
Multiple sources are reporting multiple disastrous polling for Biden this weekend.
Go take a peek over at DU. They're panicking.
bttt
“middle-class household has lost over $33,000 in real wealth “
$30k if you’re lucky.
In my county, the median home price is down more than $60,000 over the last year. Now, if you’re not actually selling, this is a paper loss. But, hey, it’s also just for one asset class. It’s not even including stocks, bonds, etc. that have all been hit by high interest rates.
Declining net worth has a negative “wealth effect,” i.e., as people feel poorer, they spend less
The market downturn, including uncompensated inflation, has not been good for my 401k over the Biden years.
But the kids got back at Dad for being a racist and a homophobe - so there's that. /s
The establishment leftists are brushing away the middle class like brushing a dead fly off a window sill. So easy...
MSM reporters are paid big bucks to lie.
Do you want them out on the street starving?
;-)
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