In a sobering revelation, a recent survey paints a troubling picture of the financial struggles many Americans face under the Biden-Harris administration. According to the latest CNN poll, nearly 40% of Americans are worried about their ability to pay all their bills on time—a concerning increase that surpasses even the struggles experienced during the Great Recession of 2008-09. The financial strain, driven by what some are calling “Bidenflation,” has left millions grappling with rising costs in essential areas like food, gasoline, and housing.
The poll’s findings are alarming. The survey indicates that 39% of Americans are concerned about their ability to consistently pay bills, a sharp 33% increase from the height of Bidenflation. This figure even exceeds the 37% reported during the 2008 financial crisis, a time when unemployment hovered near 10%. While inflation has slightly eased in recent months, it remains stubbornly high, continuing to impact the cost of living for everyday Americans. As CNN highlighted, “consumers are still trying to catch up to the price spikes of the last few years.”
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A closer look at the numbers reveals a widening gap between nominal wages and inflation-adjusted wages since 2021. The Daily Signal, citing the survey, underscored this issue: “Still trying to catch up is an understatement. The gap between nominal wages and inflation-adjusted wages since 2021 is more than 20%. So, it looks like you’re making a lot more, but even accounting for official inflation, workers have lost thousands in income.” This alarming trend raises concerns that official inflation figures might not fully reflect the true impact of rising prices on American workers.
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