|The most amazing thing to us about Biden’s economic incompetence is that he was able to raise the inflation rate from 1.6% when Trump left office in January of 2021 to 8.5% fourteen months later. We wouldn’t have believed that was possible. Imagine for just a moment that they had actually passed the $5 trillion Build Back Better bill. Would inflation now be 10, 12, 15%?
Our friend Andy Puzder has updated his valuable chart comparing the rise in wages versus the rise in prices. We estimate over the last year a typical middle class family has lost about $2,500 in real income.