With President Biden in the White House, Americans are having to make some serious changes and adjustments.
Many folks are adjusting to the rapidly growing inflation crisis that has the nation at a standstill. This is something that conservatives warned about long when the Biden administration passed all these spending programs; Republicans pointed out that money doesn’t grow on trees and driving up the national deficit will not engender prosperity.
Biden didn’t listen and neither did Democrat representatives and senators in Congress. Over the past several weeks, polling has shown a quick surge in people’s concerns about inflation.
This week, these concerns reached even higher heights.
The public’s current perception of U.S. inflation
In a new survey from Skynova, Americans learned that 88% of people in the country worry about inflation. These worries arrive as airfare, food, cars, gas, rent, clothing, furniture, and more all rise in cost.
Despite Biden’s talk about “building back better,” Americans are paying more and more money for the same amounts of goods and services. This means that spending power is weakening, not getting stronger. Suffice it to say, none of this is conducive to a restored, successful economy.
61% of Americans also admitted to Skynova that they believe inflation will personally harm them. Meanwhile, only 2% claimed that inflation was not of any concern whatsoever.
The White House and other allies of President Biden have attempted to downplay the reality of inflation; however, they’re not really fooling anyone, as the newest Skynova poll shows. Furthermore, the research department of Statista believes that inflation will persist throughout 2024 and only just begin to truly die off in 2026.
Casualties of wasteful spending
President Biden believes — or at least publicly professes — that his spending programs will help the most financially vulnerable Americans. However, the reality doesn’t bear this out…and neither do the numbers.
In fact, inflation actually hits poor and working-class Americans the hardest. Folks with fewer financial resources won’t be able to weather the storm of inflation in the same way that their wealthier counterparts can.
Biden and Harris have not addressed the inflation crisis. However, they did find time on Thursday to tout the child tax credit.