« New York’s financial appeal requirements mean that filing appeals could destroy Trump *UPDATED* | Whether it’s massive rat penises or made-up airline policies, AI is going rogue »
February 20, 2024

Bidenflation higher than ever, clocking in at 17.3% -TIPP

By Monica Showalter

To listen to the left, Bidenflation is a thing of the past, based on the Federal Reserve's hikes in interest rates.

They say it's conquered. They trot out their numbers. They have the receipts.

Paul Krugman is the chief cheerleader, but not the only one:

Everywhere I go on Twitter, I see another tweet that's worse than the last one.

And Krugman can't stop himself:

The Big Guy and his Impeachment Insurance are high on their own supply, too:

Yet the public isn't buying it. Polls show that inflation (and illegal immigration) remains top areas of voter concern, even as Biden's cheerleaders tell us all that nothing is happening.

It baffles them. And there has been endless speculation about why that is the case, since, they certainly aren't affected by it and they believe their own numbers.

Pollsters at TIPP, however, know what's happening. They have the receipts.

Voters aren't comparing inflation numbers to the month earlier as the statistics cited show. They're acting like voters -- comparing their economic well-being from Before Biden, and After Biden.

TIPP came up with an index demonstrating just that ... and it paints a very different picture:

The dark reality of Bidenomics is 17.3% inflation under the President’s watch. When he took office, inflation was at just 1.4%. Inflation has stayed above the Federal Reserve's 2% target for 35 consecutive months since March 2021.

Average hourly earnings for all employees dropped 2.0% to $11.16 in January from $11.39 in January 2021 when Biden assumed office. Despite nominal salary increases at their fastest pace in years, 58% of Americans say they are now worse off than when the President took office.

In short, prices have increased by 17.3%, while real wages have declined by 2.0%, meaning Americans have taken a 2.0% pay cut under the current administration. To put it differently, people now need 19.3% more income than they had in January 2021 to maintain their living standards. According to some estimates, Americans need an extra $11,400 a year to make ends meet.

 

Chart created by TIPP // used by permission

As a result of this economic fiasco, Americans are working longer hours, taking multiple jobs, and maxxing their credit cards, just to maintain themselves above water. They aren't gaining from this as average hourly earnings have fallen.

It corresponds well to what Bidenites on television and Twitter can't see and are baffled that Americans can see. They may chalk it up to 'disinformation,' but it's not disinformation. It's perfectly real as their "lived experience" as the lefties like to say, because they do live it.

TIPP explains in detail how this works as layer upon layer of inflation build to these current numbers like a mushroom cloud.

It dovetails well with other indicators that understand what voters are feeling and experiencing, such as Hanke's Misery Index, of all the things that consumers can see in their daily lives up front.

All told, the inflation story is not over, and as this TIPP index indicates, it's getting worse, hitting a new high from the collective effect of all these price hikes over these past few days. Biden has everything to do with this and no explanation for how he's going to fix this because he has no intention of stopping government spending, which is where the inflation -- and its mushrooming effect -- comes from.

 

If you experience technical problems, please write to helpdesk@americanthinker.com