Working-Class Americans Getting ‘Destroyed By Inflation’

Despite the tragedy of inflation, it seems to be getting worse with time rather than slowly easing away. Each week, there are new reports of various businesses announcing their choices to increase their prices due to incurring more expenses.

With inflation continuing to wreak havoc on the economy, borrowers are looking at higher interest rates expected to begin very soon. These higher interest rates are designed to help the government counteract inflation. However, the people paying these high rates are more likely to be in financially vulnerable positions, to begin with.

None of this bodes very well for the American people. Fox News reports that working-class Americans are the ones getting destroyed by inflation.

Many working-class Americans are in a position where they have to seek high salaries to keep up with inflation. Unfortunately, this comes at a horrible time, seeing as employers are feeling the sting of inflation and working to offset extra expenses as much as possible.

Likewise, individuals living paycheck to paycheck or on an income that’s fixed are going to have a hard time with inflation. It’s already created a situation where some people find themselves having to cut back on particular necessities, such as groceries, to pay the mortgage or monthly rent.

Sadly, as inflation is turning Americans’ lives upside down, the Biden Administration is oblivious and unwilling to make any changes. The White House believes that more spending will help fix inflation. It is a backward train of thought and one that caused today’s current inflation disaster.

Time and time again, Americans have witnessed Democrats brand themselves as the heralds and defenders of the working class. Despite trying to project this image, the policies of the Democrat Party aren’t in keeping with this.

If Biden and the Democrats truly cared about helping working-class Americans, they would enact the appropriate policies. Some examples include lower taxes, fewer regulations on businesses, and less federal spending to avoid inflation.

Thanks to Biden, working-class Americans are witnessing their paychecks decrease in value, their interest rates on loans increase, and the market’s prices across the board skyrocket. It doesn’t bode well for anyone who is barely scraping by or in a tight financial spot.

It is something that all Americans need to remember in November when it’s time to vote in the midterms.