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Bidenomics Takes Devastating Toll On Still-Struggling Americans

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OPINION: This article may contain commentary which reflects the author's opinion.


Americans are stressed over financial issues as “Bidenomics” has continued to wreak havoc on their lives.

A new survey showed that the price of groceries has grown by 25 percent since the pandemic began, and more so if you account for “quick trips to the store,” Food & Wine reported.

The survey, conducted by Intuit Credit Karma, showed that more than a quarter of the people surveyed admitted to skipping meals for financial reasons.

“According to the survey, 28% said they are putting off paying for necessities, such as rent or other bills, to afford groceries — while 27% say they are occasionally skipping meals. Another 18% have applied for or considered applying for food stamps and other types of assistance, and 15% rely on or have considered visiting food banks for groceries,” the report said.

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“Even if they haven’t taken concrete steps to manage their food bills, the survey found a wide perception that prices are going up. When asked about inflation, four-fifths of those surveyed (80%) said they’ve seen the highest price increases when shopping for groceries, followed by gasoline (51%), utility bills (39%), housing, and dining out (both 27%),” it said.

“Food insecurity is a major issue in this country as millions of Americans don’t have enough food to eat or don’t have access to healthy food,” Credit Karma consumer financial advocate Courtney Alev said.

The price hikes “have put American households in precarious situations, especially low-earning households who have families to feed.”

“Americans are still facing rising costs for other necessities such as rent and gasoline, which could be counteracting their journey toward financial stability,” the advocate said.

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Those surveyed are also taking other steps to mitigate costs as 37 percent said they are shopping at discount grocers and 26 percent said they are purchasing food that is less healthy because it is what they can afford.

And it is also affecting the mental health of Americans as 21 percent of those surveyed said that they were ashamed of their inability to afford groceries.

It is also tough because 53 percent said they earn too much money to be eligible for government assistance but not enough to make ends meet during the month.

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“In other big-picture data, almost half of those surveyed, about 44%, said they feel financially unstable. The figure is even higher for people with household incomes of less than $50,000; about 56% said their finances felt rocky,” the report said.

“There’s plenty of data to back up the responses. Since 2020, the Federal Reserve says grocery prices have risen 25%, leaving consumers — and even President Biden — fuming over food costs. And lately, supermarkets and big box stores such as Walmart, Target, Ald, and Amazon Fresh have been scrambling to implement price cuts,” it said.

In May, House Republicans shared a report that showed the effects of “Bidenflation” on the fast food and grocery markets.

  • McDonald’s Medium French Fries is UP 167.6%
  • McDonald’s Big Mac Meal is UP 103.5%
  • McDonald’s 10 Piece Chicken McNuggets Meal is UP 95.5%
  • McDonald’s Hamburger Happy Meal is UP 140.6%
  • McDonald’s 4 Piece Chicken McNuggets Happy Meal is UP 97.3%
  • Taco Bell’s Cheesy Gordita Crunch is UP 111.5%
  • Taco Bell’s Nachos Bellgrande Combo is UP 77.0%
  • Taco Bell’s Beefy 5-Layer Burrito is UP 153.8%
  • Chick-fil-A’s Chicken Sandwich Combo is UP 94.8%
  • Chick-fil-A’s 8 Piece Nuggets is UP 98.2%
  • Americans are paying more for just about everything because of inflation since Biden took office: 
    • Food at elementary and secondary schools is UP 64.9%
    • Gasoline (all types) is UP 55.5%
    • Eggs are UP 43.5%
    • Airfare is UP 38.2%
    • Baby food and formula is UP 30.0%
    • Frozen vegetables are UP 29.4%
    • Electricity is UP 28.5%
    • Public transportation is UP 26.1%
    • Butter is UP 26.1%
    • Cookies are UP 25.9%
    • Breakfast cereal is UP 24.3%
    • Pet food is UP 23.1%
    • Eating out is UP 21.8%
    • Groceries (Food at home) are UP 21.3%
    • Rent is UP 20.8%
    • Used cars are UP 20.4%
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