There is a new tax impacting every American family this Christmas. President Joe Biden is responsible for this tax. Despite claims that this tax isn't as bad as it was earlier this year, it's still walloping family budgets everywhere. The tax is inflation. When Biden and Congressional Democrats were proposing and passing massive pork-filled spending bills (without a single Republican vote) Conservatives warned that inflation would follow. And it did, and it's still here menacing the cost of your Christmas.
The inflation report for November is in. The report is called the Consumer Price Index, , which is a measure of the average change over time in the prices paid by consumers for a market basket of consumer goods and services. The "good news" was inflation was "only" up 7.1% over last year. Find me, anyone, anywhere who thinks that is good news. You are paying at least, 7.1% more for what you buy than you were just one year ago.
But this news gets worse. Need fuel oil? You're paying 65.7% more than last year. Electricity? Your bill is up 13.7% from last year. Your holiday travel will cost you more, too. The price of gas is still up, now 10.1% from the same date one year ago. And when you hear Team Biden brag about the cost of a gallon of gas improving, remember the day President Donald Trump left office you could buy gas for $2.11 per gallon. Flying will cost you a fortune, too, as airline fares are up 36%.
Let's head for the supermarket and see what we find for the impact from Biden's economy. Overall groceries are up 12%. But have you seen the price of eggs lately? Eggs are up 49.1%, potatoes up 16.2%, bread up 15.7%, milk up 14.7%, chicken up 12%, and baby food up 10.9%.
That's a staggering set of statistics. Inflation is at a 40-year high. If Trump were still president every media outlet in America would be reporting these numbers hourly. But since this is a mess of Biden's making it doesn't get the same coverage. The pinch you feel in the pocketbook is real and directly results from bad government championed by the Biden White House. Plus, it's tougher to decorate your home and pile those gifts under the Christmas tree as well. Average holiday spending per person is expected to top $830 this year.
ADVERTISEMENT
Hourly earnings fell 1.9% since last year, marking the 20th month in a row under Biden in which inflation has outpaced wages. It wouldn't surprise me if a few North Dakotans decide to take on some debt to weather this price spike on everything, But beware, interest rates are up as well, another sign of how poorly the Biden administration is doing.
This is all bad news and has infiltrated every facet of our lives. It makes me angry because Biden inherited a booming economy and decided to spend, spend, and spend some more. And the result impacts those with the least. Doesn't that make you mad?
Scott Hennen hosts the statewide radio program “What’s On Your Mind?” On AM 1100 “The Flag”, AM 1090 KTGO “The Flag” and AM 1460 KLTC. Email him at ScottH@FlagFamily.com
This column does not necessarily reflect the opinion of The Forum's editorial board nor Forum ownership.
The Trust Project
