Connect with us

Biden

Biden’s America: Inflation Policies from Dem’s Cost Lower Income Families

Published

on

Biden's America Inflation Policies from Dem's Cost Lower Income Families 3,500 this Year-ss-Featured

Given the myriad of issues arising from Joe Biden’s America, a steep inflation problem just had to come out of it.

The Wharton School of the University of Pennsylvania released a budget model saying that, on average, Americans will be forced to spend $3,500 more this year so that they can sustain their level of consumption from the past two years – 2019 and 2020.

It also touted that this will disproportionally affect low-income families in the country.

Spending Increase in Biden’s America

The study, titled The Impact of Inflation by Household Income, had estimated that lower-income households will need to spend 7% more money so that they can keep their previous consumption patterns. Meanwhile, higher-income families will only need to spend 6% more.

Although, due to the variation in what makes up composition bundles, the study says that higher-income households experience smaller percentage increases in total expenditure. These households also spend relatively more on services, which is a sector that experienced smaller price increases. Meanwhile, lower-income households tend to spend relatively more on energy where prices increased more. Under the fixed bundle assumption for 2019, the bottom 90% of households experienced an increase in their consumption expenditure by between 6.7% to 6.9% in 2021.

Among all the consumption basket of income groups, the bottom 20% of households saw their consumption price go up by 6.8% or by $2,120.

Meanwhile, the top 5% of households will only experience a consumption increase of 6.1% or by $7,636.

The study also mentioned that, because the higher-income groups saw a larger increase in expenditures across all categories, these groups also had a bigger increase in their total expenditure. However, due to the variation in what makes up composition bundles, the study found that higher-income families would also see smaller percentage increases in their overall expenditure.

According to a Fox Business Poll, Americans are feeling that they had to let go of more money just to keep the same standard of living.

Almost half of Americans also feel that President Joe Biden has a hand in making inflation worse.

Luckily, Biden’s BBB spending bill has been set aside until at least 2022. This may not help exponentially at this point, but most Americans will take any break in spending as they can have.

Up Next:

Continue Reading
2 Comments

2 Comments

  • David says:

    It stands to reason, democrats have always targeted people of color. They fought to preserve slavery in the civil war, and expand it west! Then they created the kkk, welfsre for a lifetime of oppression and poverty, as well as depending on the government. To really stamp out the desire to work. Then he compared african americans tp cockroaches,”african americans are like cockroacges and they will over-run punlic schools.” Then the comment about Indians and dunkin donuts, among maby other. And dont forget the pedophilia, grabbing little girls nipples, unwatrd kissing, hair stroking, and on and on, and on. But a lot of peoplr sure bought into the “republicans are racists! Too funny!

  • Jesse says:

    Pedo Joe and the Democraps care only for their power and the money it gets them. That is why Pedo Joe has no plan for America only to undo all that President Trump did for America. Had that FARCE Democraps call Build Back Better been passed we would have NOTHING but more Debt. Look what Democraps did back when Obozo first took office. The Two biggest bills the Democraps rubber stamped for Obozo were not even written much less read when they saddled America with that FARCE called a Stimulus bill and Obozocare the worst thing to happen to healthcare. America has not paid one cent on that mess yet Democraps swore it would be paid for in 10 years. All that bill did was waste as much money as all the other Admins combined spent. This mess Pedo Joe wants to add another 1.7 to 4 Trillion to the debt America already has. But so long as Democraps keep power and can take in all the money they want mostly through ILLEGAL means and not get put in prison they could care less about Americans.

Leave a Reply

Your email address will not be published.

SIGN UP FOR BNA NEWSLETTERS

Free Come and Take It Hat
President Trump Playing Cards offer

Copyright © 2022 Breaking News Alerts. This copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.