It is hard to follow the complex financial planning coming out of D.C. — but everyone knows when their spending power suddenly goes down.
Consumer prices went up by 5.3 percent back in August over this same time last year, though experts said they hoped that the trend might cool down and that the economy would surely return.
But prices for food, gas and a lot of other necessities have slowly gone up in the months after Biden took office as problems like supply chain disruptions and government spending keep adding to inflation concerns.
And while establishment media were working to sooth themselves using false hope, real people started to feel the economic squeeze of rising costs that have removed some of their family budgets, the NY Post reported this week.
The news outlet reported on the story of Allison, a mother of two who is a teacher and has noticed her family’s expenses are going up precipitously.
“It used to take $70 a week, but now suddenly, I noticed that I could not leave the store without spending $120,” Allison said to the Post. “There are no more trips like going to Home Depot to buy plants or eating out.”
The report highlighted that Dollar General raised its prices on products, with coffee and milk going up by over 10 percent and a 12-pack of Coke now costing 20 percent more than its Southwest locations.
That is a problem considering the store’s business model is about giving cheaper goods to communities not well served by grocery stores and big-box stores.
Add to this face that Dollar Tree is now increasing prices for the first time in more than 30 years of being in business.
“Dollar Tree increasing prices on some products to over $1 How can Joe Biden still say inflation is not happening?” Iowa Senator Chuck Grassley stressed in a tweet last week about the unconcern Biden administration.
“President Biden: You cannot spend $6 trillion with it being like throwing gas on the inflation fires,” the Republican Senator said.
Dollar Tree raising prices on some items to above $1 How can Pres Biden still claim inflation not happening? Pres Biden: u can’t spend $6 trillion it’s like throwing gasoline on the inflation fires
— ChuckGrassley (@ChuckGrassley) September 30, 2021
For families such as Allison’s and others who are real people and far away from the ivory towers, these increases are great and amount to a tax against the middle class.
Moody’s Analytics Chief Economist Mark Zandi estimates a family bringing in $70,000 annually — the country’s median income — will have to pay another $175 each month due to inflation that is now at a 30-year high.
Author: Steven Sinclaire