Kamala’s Elephant In the Room

They call it the elephant in the room or the issue that won’t go away.  I am talking about the price of food or that weekly purchase that we all make. VP Harris may pretend to feel our pain or to propose silly solutions to ease it but it’s the same old inflation crushing our wallets.

Let’s take a look.

This is a good post from the respected TIPP Insights:

The dark reality of Kamalanomics is the alarming 19.6% inflation under the President’s watch, which is 5.6% annually. When Biden-Harris took office, inflation was at just 1.4%. Since March 2021, inflation has consistently remained above the Federal Reserve’s 2% target for 41 consecutive months.

Under Biden-Harris, the federal debt has increased by $7.4 trillion. To finance the President’s spending spree, the Federal Reserve printed money from nothing. The increased money supply, without a corresponding increase in goods and services, reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.

Prices have increased by 19.6%, while real wages have declined by 1.8%. Average hourly earnings for all employees dropped 1.8% to $11.19 in July 2024 from $11.39 in January 2021, when Biden-Harris took office.

The typical U.S. household now requires $1,095 more each month (equivalent to $13,140 annually) compared to three years ago. The amount varies by state. For example, a California household pays $1,250 more monthly to purchase the same basket of goods and services as in January 2021. The average California household has spent $31,983 more due to inflation since January 2021.

Squeezed by persistent inflation, many Americans are turning to a second gig to supplement their income. A recent Bankrate survey reveals that 36% of U.S. adults have a side hustle, down from 39% the previous year. Many rely on this additional income to cover essential living expenses like rent and groceries, with 32% believing they will always need this additional work to make ends meet. Younger adults, particularly Gen Z, are the most likely to have a side hustle, with 48% engaging in extra work. The survey highlights ongoing financial pressures, with 35% using side hustle income for living expenses and 20% for paying off debt.

As I overheard someone say, inflation is a number on the TV screen until you go shopping. Then it takes over your family’s budget and you feel like you are drowning all the time.

Inflation is also topic one when you go out with friends. How often have you heard someone say that he paid this or that for something? I hear it all the time even when I’d rather talk baseball.

The Trump campaign needs to focus on the cost of living, the border and repeat the same line until Election Day. Talking about anything else will simply get the Harris campaign off the hook.