Biden’s inflation costing every couple $6,800 this year

Joe Biden’s presidency is costing singles an extra $3,400 this year, and couples $6,800, a new report explains.

That’s in addition to the ordinary income and other federal taxes, and tax and fee increases that are being implemented.

It’s just because of inflation.

Fox Business said the analysis came out just as the federal government announced its Consumer Price Index was up in June 9.1% from a year ago.

That “amounts to a roughly $3,400 yearly income decrease for the average worker and a $6,800 reduction for families in which both parents work,” the report said, quoting E.J. Antoni, a research fellow at The Heritage Foundation.

“There are plenty of families that that’s more than their food budget a year,” Antoni said. “I can’t emphasize enough how much this is really crushing consumers. … It’s truly crushing the middle class and then the White House spokesperson says these garbage lines like ‘the economy is in transition.’ Transition in the same sense, I suppose, that an iceberg transitioned the Titanic into a submarine.”

Gasoline and electricity have exploded 41.6% over the year, while food is up 10.4% and Antoni noted core inflation, which excludes things like food and fuel, was surging 5.9%.

“One year ago this week President Biden’s reckless stimulus checks began flooding the economy, and we are seeing the result: Inflation is raging and getting worse, forcing massive pay cuts for American families,” said Rep. Kevin Brady, the House Ways and Means Committee ranking member.

Antoni estimated inflation has effectively erased the money Americans received from federal stimulus checks during the pandemic – totaling about $3,200 – starting in March 2020.

And it gets worse.

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