What You Should Know About the Economic Disaster Created By Joe Biden and Kamala Harris

Inflation has reached a 13-year high, and Americans are feeling the impact as the Biden-Harris administration continues to promote their big-spending agenda.

Joe Biden gave remarks on the economy and the bipartisan infrastructure package today — a bill running parallel with the Democrats’ multi-trillion dollar “human infrastructure” package which would expand government entitlement programs and further exacerbate inflation.

With the cost of everyday goods rising at their fastest pace since 2008, workers, families, and businesses are paying more money for things such as gas and groceries. Meanwhile, Democrats are continuing to ramp up government spending in order to fund their liberal wishlist — a factor that economists have attributed to the rising inflation Americans are facing today.

Wall Street Journal: “Many factors are driving the increases, including ultra-strong consumer demand and supply-chain bottlenecks. But behind many of them, many economists say, is a deliberate decision by policy makers in the U.S. and elsewhere to run their economies hot for now, with lots of stimulus, to ensure they recover fully from damage caused by Covid-19.”

Joe Biden repeatedly promised to not raise taxes on anyone making less than $400,000 a year, hoping to not cut into Americans’ purchasing power. 

However, his failed policies have proven to do the exact opposite. Inflation is acting as a tax increase on hard working Americans, limiting their purchasing power. 

Wall Street Journal: “The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023.

“That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.”

Bottom line: The Biden-Harris administration cannot be trusted to lead Americans to economic prosperity post-pandemic. Instead, their reckless spending agenda is serving as a hidden tax on middle-class Americans and will hurt the country for years to come.