Most of the media regurgitates about how great Biden and Harris have been in foreign and domestic policy. They pretend that they are responsible for bringing down prices, without giving examples, despite prices still rising at twice the level that they inherited.
This article from Associated Press claims that the reason prices are coming down is because Americans are refusing to pay them.
Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike
The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.
That is clearly not the reason.
The reason prices are not going up so fast is because Americans can't afford to pay them. It's not a refusal. Their income hasn't kept up!
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If journalists really cared about facts all they would have to do is do a search for economic facts.
In 2020, credit card debt in the United States decreased by 9% from 2019, reaching $770 billion in the first quarter of 2021
In 2024 CC debt is $1.1 trillion in 2024, up more than 50% in less than four years
Credit card delinquencies have increased by over 100% from 4.1% in the fourth quarter of 2021 to 8.9% today. The percentage of credit card debt that is over 90 days late is the highest since 2012.
Auto loan delinquencies have increased from 4.9% in the fourth quarter of 2021 to 7.9% this year which is a decade-long high.
Housing prices in 99% of U.S. counties are more unaffordable than ever for the average American earner, according to a new report from the real estate data site Attom.
As of August 2023, the personal savings rate in the United States was 3.9%, which is well below the average of 8.9% over the last decade.
Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Many people are dropping auto insurance because they can’t afford it.
Yes, and more Americans are dropping home insurance due to rising premiums. According to a 2024 study from the Insurance Information Institute, 12% of Americans no longer have home insurance, which is up from 5% in 2019. This is the highest percentage of uninsured homeowners the group has ever seen.
In 2023, home insurance rates went up 20%.
Recent data from Bankrate show that the national average for home insurance based on $250,000 in dwelling coverage has surged by 20% compared to the previous year
In 2024, home insurance rates continue to soar:
Ten states where regulators can reject requests upfront have all greenlighted double-digit increases since the start of last year, with half those increases close to or above the 20% national average, the S&P data show. California, which for decades kept a tight lid on home-insurance rates, has approved an average 21% rate increase over the period, according to the S&P data.
Medicare rates went up more than 5%, too:
The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174.70 in 2024, an increase of $9.80 from $164.90 in 2023.
Health insurance rates continue to rise rapidly.
This updated analysis of insurers’ preliminary rate filings shows that ACA Marketplace insurers are requesting a median premium increase of 7% for 2025, similar to the 6% premium increase filed for 2024.
Average day care rates which in 2020 were at $12,300, are up to more than $18,000 now, seeing a 50% rise in four years. Government subsidies make costs soar, just like they do with Obamacare. They do not make things more affordable. They just shift who pays for them to the taxpayer. The middle class gets screwed two ways.
There is also this:
56% of Americans can’t afford a $1,000 emergency expense: We are ‘living in a paycheck-to-paycheck nation,’ money expert says
Do any of these statistics indicate that real wages are rising, and things are getting better which we are constantly told?
There is no way that prices for the poor and middle class are only rising 3% since they spend so much of their cash flow on necessities that have soared, especially on energy.
Claiming that inflation is just 3% allows the government to give very small increases to seniors and people on disabilities who live on fixed income. They are falling farther and farther behind as the culmulative effect of past inflation builds.
So, why do journalists continue to lie and cover up to elect Democrats when their policies and results are so destructive to the poor, middle class, minorities, women, and small businesses whom they only pretend to care about?
The answer is clearly that they don't care about facts or results, only power for Democrats and big government.
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