With prices rising at the fastest rate in 40 years, the overwhelming majority of American workers say their paychecks can’t keep up with Bidenflation in a recent survey.
From the New York Times:
“Only 17 percent of workers say they have received raises that kept up with inflation over the past year, according to a survey of 5,365 adults conducted last month […]
“Most of the rest say either that they have received raises that lagged price increases or that they have received no raise at all; 8 percent of respondents said they had taken a pay cut.”
Between supply chain hurdles and crushing Bidenflation, job creators are also struggling to retain workers. The Job Opening and Labor Turnover Survey (JOLTS) reported that 4.5 million workers left their jobs in November – a new record.
Democrats’ trillions in welfare spending has devastated our jobs recovery and failed our most vulnerable families.
- Despite evidence that Democrats’ $1.9 trillion “rescue” package last year neither stimulated the economy nor focused on crushing COVID, Democrats continue to push for policies in their next $5 trillion spending bill that hold back our recovery, raise taxes on job creators, and keep Americans from reconnecting with work.
- In October, analysis from the Federal Reserve Bank of San Francisco confirmed that the Biden Administration’s $1.9 trillion emergency spending in early 2021 boosted Bidenflation.
Bidenflation is crushing America’s working families.
- Americans are facing the fastest rising prices in 40 years thanks to Bidenflation burning holes in family budgets.
- In fact, under President Biden, American workers have lost three years of real wage growth (and about $377 a month in real wages since March).
Bidenflation is crushing Main Street businesses.
- Small business owners are getting crushed by Bidenflation and tax hikes too, with prices rising to historic highs and a record number of small businesses being forced to consider price increases, which are passed onto consumers.
Reprinted with Permission from - US Committee on Ways and Means by - J.P. Freire & Jessica Henrichs
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