- A report from the Heritage Foundation found that since President Joe Biden took office, the average American has lost $4,200 in yearly income due to inflation and higher interest rates.
- Since January 2021, Americans’ purchasing power has declined as wages have only risen 8 percent, while consumer prices have spiked by 12.7 percent.
- According to EJ Antoni, a Heritage Foundation research fellow in regional economics, “This financial catastrophe for American families is the direct result of a president and Congress addicted to spending our money, combined with a Federal Reserve compliantly enabling this addiction by printing more dollars.”
