Moody’s Analytics is reporting that the average American household under Bidenomics is paying over $700 more per month this year than they did two years ago – for the exact same goods and services.
The economic research firm’s numbers indicate that this is the effect staggering inflation under the current administration has had on the American people, even as the rate has cooled off a bit in recent months.
Mark Zandi, chief economist at Moody’s Analytics, delivered the news in a Twitter/X social media post.
“The high inflation of the past 2+ years has done lots of economic damage,” Zandi observed. “Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago.”
https://twitter.com/CNN/status/1690120429036535809?ref_src=twsrc%5Etfw
Bidenomics Is Making You Pay More – A Lot More
Zando notes that the “trend lines look good” after a July CPI report that was solid in his view, but the massive increase in costs for household budgets for a one-month timeframe is remarkable.
We’re unsure what $700/month would mean to you, but we can think of a few things. That’s two car payments. And in Biden’s economy, that’s about two tanks of gas for those cars. Or maybe one full trip to the grocery store.
Either way, it’s quite a bit.
https://twitter.com/RightGlockMom/status/1690133776259551232?ref_src=twsrc%5Etfw
Democratic strategist James Carville recently indicated the Bidenomics approach is really, really good. It’s just that the American people aren’t smart enough to realize it yet.
Carville was asked by CNN’s Wolf Blitzer if the economy is really even an important factor in presidential elections anymore.
“I’m starting to doubt myself a little bit, because this economy is quite good. Maybe it will kick in,” he said. “And sometimes it takes a while for people to feel it.”
A while. Two years ago in July of 2021, inflation had risen to 5.4%. The year prior, in Donald Trump’s last as President, it was 1.0%. This past July, it was 3.2%, up slightly from June.
Two years, up $700. Ever notice how quickly gas prices go up, but take seemingly forever to go back down? How long will it take to recover that massive monthly amount, do you think?
https://twitter.com/dontbei/status/1690484202293141504?ref_src=twsrc%5Etfw
Does Anybody Remember Those 16-Cents Biden Saved Us?
Notably, that July CPI report that Zandi calls “great” is still higher than any one month – year over year – during the entire Trump presidency.
Calling a 3.2% CPI great is the very definition of moving the goalposts.
$700/month seems rather significant when you consider this is the same White House that bragged about a savings of 16 cents for an Independence Day cookout two years ago.
https://twitter.com/WhiteHouse/status/1410709115333234691?ref_src=twsrc%5Etfw
So how do the enormous increases in cost under Bidenomics affect you on an everyday level?
- Your morning coffee is 30% more expensive than when Biden took office.
- On your way to work, you gas up your vehicle, which costs over $1.40 more per gallon than when Biden took office.
- You’re expecting a paycheck today, but it’s roughly 3% lower in real terms than when Biden took office.
- When you return from work and tackle the bills, you notice your rent is up 15.9% and your electric bill is 24.6% more expensive under Biden.
- You try to relax and have a nice dinner out with the family, but the cost of going out to eat under Biden has skyrocketed by 19.3%.
- Instead, you head to the grocery store, but don’t get much relief either. Under Biden, grocery prices are also up 19.3%.
Bidenomics isn’t about making things better for the average American. Who can survive spikes in prices for everyday goods more readily – the wealthy or the middle class or low-income families?
Bidenomics is about increasing your daily, weekly, and monthly misery, then telling you everything is wonderful.
