Average American Family Has Lost $6,800 a Year Under Biden

The average American worker has lost $3,400 in annual wages due to skyrocketing inflation under President Biden, while the average family with both parents working has seen a $6,800 pay cut.

This is according to Heritage Foundation research fellow, E.J. Antoni.

The Political Insider on Wednesday delivered the financially catastrophic news that inflation far outpaced economist warnings, spiking to a new 40-year high of 9.1% in June.

That staggering number helped drive down the real average hourly earnings for all employees from May to June by a full 1.0%.

“There are plenty of families that that’s more than their food budget a year,” Antoni said in an interview with Fox Business. “I can’t emphasize enough how much this is really crushing consumers.”

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Most politicians and activists have strong views on every political issue. Those views grow from their fundamental political philosophies and beliefs. The best politicians know how to balance their political ideals with a keen watch on how they affect the lives of everyday Americans — those who voted them into office. Go too far with your ideological preferences in the face of evidence that it’s hurting the American people, and you will not go far in politics. The Democratic Party seems poised to take a beating for forgetting this fundamental maxim when it comes to energy and climate change. They feel so strongly about the issue that many have lost touch with reality. They have entered a sort of make-believe world. The coming election is going to bring them back to reality.

Republicans are not immune to ideological overstepping. Republicans in general believe in the private sector. They believe that free markets offer more benefits for society than government spending and mandates. The theory has proven correct far more than it hasn’t, but not always. When a so-called private sector line of business becomes so corrupt, so dominated by Washington political favoritism, and so mismanaged that it’s offering worse products and worse prices than government options, then even limited-government free market activists need to take notice. Those who don’t will pay a political price. The private student loan industry is a prime example. Created and supported by Republicans, it became so corrupt and so mismanaged that eventually it was impossible to defend. The few who tried paid a political price.



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