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Why is everything so expensive? Blame Bidenomics for inflation

May 17, 2024 by AFP

Americans feel the pinch of rising prices whenever they are at the gas pump or the supermarket. The question on everyone’s mind: Why is everything so expensive?

The answer, in part, is Bidenomics. A new(ish) PR term for the same old failed recipe of top-down government, cronyism, and trillions of dollars of reckless government spending.

President Biden and his allies in Congress approved at least $5.5 trillion in new spending since 2021. Bills like the Inflation Reduction Act, the Chips and Science Act, and the Infrastructure Investment and Jobs Act, and the American Rescue Plan are pushing public spending to new heights, injecting more dollars than the market can handle.

The result? Life is much more expensive today than it was four years ago. Americans pay $11,400 more than four years ago to maintain the same lifestyle, and cumulative inflation is Despite what Biden and many of his apologists might say, inflation remains stubbornly high and shows little signs of returning to normal levels.

We can get inflation back under control again. But first, we need to hold accountable the politicians who fueled inflation in the first place.

Who is responsible for inflation?

Despite what President Joe Biden might tell you, inflation is not the fault of supply-chain woes, Vladimir Putin, or corporate greed. It happened because Bidenomics spent and printed record amounts of money over the last four years.

Like any other good or service, the value of money depends on supply and demand. If there is more money in the economy than the market can absorb, its value will come crashing down, and prices will increase. That is precisely what has been happening in America since 2020.

At first, Washington authorized record levels of new spending to respond to the pandemic. Then Bidenomics made the problem worse by authorizing at least $5.5 of new spending on top of what was already expected.

The result? The money supply skyrocketed by as much as 42%, and inflation soared. That’s Bidenomics.

Biden was not the only Washington politician responsible for Bidenomics and the spending frenzy fueling inflation.

There is a long list of Bidenomics politicians who voted for bills that are giving billions of taxpayer dollars to corporate cronies while making life more expensive for all Americans.

Senators Bob Casey (D-PA), Jon Tester (D-MT), Jacky Rosen (D-NV), Sherrod Brown (D-OH), and Tammy Baldwin (D-WI) all voted for the Inflation Reduction Act, the Chips and Science Act, and the Infrastructure Investment and Jobs Act, and the American Rescue Plan

How are the states these Senators represent faring after they voted for these bills? Let’s take a look at the data:

  • Pennsylvania: Prices have gone up 18% since 2021, and the average Pennsylvanian is paying $888 more a month for the same lifestyle thanks to Bob Casey’s support for Bidenomics
  • Montana: Cumulative inflation is at 21.6%, and people are paying $1110 more a month thanks to Jon Tester’s love for Bidenomics
  • Nevada: Prices are up 21.6% since 2021 and the average citizen is paying $1168 more monthly because of Jacky Rosen’s pro-Bidenomics votes
  • Ohio: Cumulative inflation is up 18.8%, and Ohioans are now paying $905 more a month thanks to Sherrod Brown’s votes for Bidenomics
  • Wisconsin: Prices are up 18.8% and the average Wisconsinite is paying $921 more a month thanks to Tammy Baldwin’s passion for Bidenomics

These five senators voted for these bills so they could remain in the good favor of the Democratic Party. In exchange for that, their constituents are now paying hundreds of dollars more a month to keep their same quality of life.

The best way to defeat inflation is to prevent it from happening again. These last four years have been a painful crash course on Bidenomics 101: irresponsible government spending leads to rampant inflation.

We must start by keeping those politicians who made life more unaffordable accountable.

Washington made a mistake, and Americans paid for it. We must remember that and demand that our elected officials learn from that mistake and end runaway spending.

© 2024 AMERICANS FOR PROSPERITY. ALL RIGHTS RESERVED. | PRIVACY POLICY