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As Americans continue to feel the relentless grip of inflation, it’s hard to ignore its toll on everyday life. Inflation has surged another 2.1% since our June 2024 report, reaching 21.1%. Yet, the Biden-Harris administration seems to turn a blind eye to the very people it claims to support.
The fact is that 78% of Americans are now living paycheck to paycheck, struggling under the weight of rising prices.
Inflation under Trump was a mere 1.4%, but by the end of Biden’s first year in office, it had spiked to 7.1%, a four-decade high—and the trajectory hasn't slowed since.
Two-thirds of all Americans have had to cut spending, leading to the recession; nearly half have been forced to dip into retirement savings to survive, and they are just one unplanned bill away from personal catastrophe.
The root causes of this economic pain are glaringly clear.
Housing affordability has plummeted, with 63% of Americans unable to buy a home or even afford rent due to skyrocketing prices and soaring interest rates. These inflated housing costs are fueled by a severe shortage of homes, driven entirely by the unmitigated influx of over 20+ million illegal immigrants, placing further strain on an already overwhelmed market. The prime rate has climbed from 3.25% in March 2020 to an astronomical 8.5% in 2024, making homeownership a distant dream for millions beyond the shortages.
To make matters worse, 87% of these undocumented individuals live entirely on government subsidies—at the expense of hardworking Americans who are struggling to pay their bills. Meanwhile, citizens are forced to drain their savings to cover the ever-increasing burden of Bidenflation.
The picture isn’t any better at the gas pump. Gas prices have surged from a national average of $3.14 in December 2020 to $5.26 in April 2024, now at around $4.57. This is a direct consequence of the administration's policies, particularly its war on oil and gas, which reversed Trump’s historic achievement of energy independence and created artificial supply constraints.
The Harris campaign promotes its imaginary "opportunity economy," advocating for raising taxes on the middle and upper classes to redistribute wealth to the bottom. These unaffordable policies have directly led to our economic decline under her current administration.
Who is gaining opportunities in the Biden-Harris economy now? Only the top 1% benefit because they have the economic flexibility to move their money around, while the rest of America either struggles or is hunkering down, waiting for opportunities to surface in a better environment.
The current economic environment feels eerily reminiscent of the Obama era, when Main Street, America, became a ghost town with small businesses boarded up. This was deemed "the worst economic crisis since the Great Depression."
Under similar conditions, Main Street faces a new wave of hardships as families and small businesses struggle to stay afloat.
Under Trump, all Americans benefited from policies that boosted growth and lifted wages. The stark contrast in economic outcomes under the current administration is undeniable.
Biden and Harris have consistently advocated for policies that hurt the very people they claim to champion, instead creating an economy where survival, not prosperity, is the new normal.
Only proven leadership can turn this ship around, and it’s up to Americans to ensure they vote for a future where the dream of prosperity is still alive for EVERY AMERICAN.
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