Want to know why Americans have unprecedented levels of economic pesওsimism?
“Americans have received a pay cut for 24 consecutive months — the 𓂃longest streak in American history — as inflatio🧔n has persisted,” noted Speaker Kevin McCarthy on Monday.
In January of 2021, average weekly earnings💮 after inflation stood at $338.57.
Now? It’s $326.40.
That’s a haircut o🐼f 3.6%𒁏 over two years, a per-worker loss of around $7,400.
All since President Joe Biden took office and launched into a drunk-sa𓃲ilor spen🥂ding spree coupled with a war on domestic energy production.
Nominal pay has risen a bit, but Biden’s reckless handouts — which have only two years into his term added some $6.5 trillion to the nation’s debt burden — triggered roaring inflation that’s only now starting to cool even mildly.
But it’s still red hot at “only” 5%.
No wonder a record 69% of Americans, per a new CNBC survey, hold negative views on the present and future economy.
A record 78% of American🌜s think their kids won’t be better off, per a March WSJ survey.
After all, Biden’s debt-digging has put the nation on pace to pay more in interest on the federal debt🍬 — some $10.5 t⛦rillion — over the next decade than it has paid so far from 1940 until today.
And his budget proposal includes some $5.5 trillion in tax hikes to fund jacked-up spending of $6.9 trillion, to saddle us with $51 tr🔯illion in debt over the next decade.
Which ma𝓡kes Biden’s brinkm🍎anship over the debt ceiling — which needs to be raised by June to avert disaster — all the more ugly.
House Republicans are asking for mild spending restraint in exchange for raising the debt limit; Biden won’t even discuss it.
He not only won’t face how his policies leave average Americans losing ground, he won’t even discuss a course adjustment to avoid a national default.