Recent discussions highlight the significant impact of rising food costs and the broader economic challenges under the current administration, labeled as 'Bidenomics' by critics. Reports indicate that food costs relative to income are at their highest in 30 years, with Americans facing higher prices, lower real wages, and tighter budgets. The Consumer Price Index shows food prices have increased by 25% from 2019 to 2023, outpacing the 19.2% inflation rate for all items. In 2023 alone, grocery costs rose by 5% compared to 2022, with consumers paying nearly 20% more for the same basket of groceries as in 2021. These economic pressures are contributing to a challenging housing market, with the average monthly payment on a new home soaring from $1,746 before the administration to $3,322. Critics argue that these conditions reflect failed economic policies, emphasizing the need for action to address inflation and make living costs more affordable.
Skyrocketing interest rates and overbearing regulations from the Biden administration led to thousands of home foreclosures last month. #Bidenomics continues to devastate hardworking families, making owning a home unattainable. https://t.co/gETFM6cbqM
🚨 December was the least affordable month on record for prospective homebuyers as home prices hit an all time high. Under Joe Biden's leadership, the American dream of homeownership is further from reach than ever before. https://t.co/xxdF2LBOPW
Before Joe Biden took office, the average monthly payment on a new home was $1,746. Since Joe Biden’s failed economic policies, that price has soared to $3,322. Bidenomics has failed the American people.
Food cost compared to income is highest in 30 years https://t.co/ZFe9Vlthuu
Food cost compared to income is highest in 30 years. https://t.co/fk0F6GFsOW Click the image to read more:
Americans are feeling the effects of Bidenflation at the grocery store. That’s why I’m working with my Republican colleagues in the House to make groceries, gas, and cost of living more affordable. https://t.co/rAn1PwF5rt
Between 2019-2023, food prices, measured by the Consumer Price Index, increased 25%, compared to the 19.2% inflation rate for the all-items CPI. And for just 2023, food-at-home prices — i.e. grocery costs — increased by 5% compared to 2022. #Bidenomics https://t.co/sDRVq11A3a
American families and workers are paying an extra $1,019 to keep up with rising prices at the grocery store and the gas station compared to just three years ago. That's #Bidenomics in action.
With the cost of groceries up 21%, Americans are being forced to pinch pennies & change the way they shop for food. Bidenflation must come to an end.
By the end of 2023, consumers were paying nearly 20% more for the same basket of groceries as they were in 2021. #Bidenomics https://t.co/8hnY5Ya738
America's food costs are spiraling out of control, and Biden and the Democrats reckless spending is to blame! Grocery bills and restaurant tabs are devouring paychecks. Americans can’t afford Joe Biden’s economy. https://t.co/IzI6jgFna7 https://t.co/97kULwylT1
Biden’s failed economic policies continue to fail the American people. The dream of homeownership is out of reach for millions of hard-working Americans. One of the most unaffordable housing markets in recent history! Bidenomics is crushing the American dream. https://t.co/YaioCJfJrX
#Bidenomics is a tax on ALL Americans
The Bidenflation Crisis is real. “🛒 30 years since food ate up this much income” https://t.co/5ZVIuPdc2B
Reminder! #Bidenomics is NOT working. https://t.co/a0hOcvYlmy
This is the Democrat economy: higher costs and stagnant wages This is what happens when you increase the cost of energy, transportation, and regulatory compliance. The Biden-Gallego economy is tearing a hole in family budgets. https://t.co/X8ceXJg1o9
Food costs are now the highest they’ve been in three decades. High grocery prices are a cruel, regressive tax on hardworking Hoosiers. Failed Bidenomics are making Americans poorer. https://t.co/OEMslQyYmV
American families can't afford #Bidenomics. 📰: https://t.co/c0vuyI7Jry https://t.co/tpKYAe6yEg
Do you feel like your money doesn't go far in the grocery store? It's not just a feeling, it's reality. Food costs compared to income are the highest in 30 years thanks to #Bidenomics! https://t.co/dsF9oesnag
"It’s Been 30 Years Since Food Ate Up This Much of Your Income" via @WSJ https://t.co/HfKcALK0Yk
Over the past three years, Americans have suffered from higher prices, lower real wages, and tighter budgets. We must combat the Biden Admin’s inflation crisis to ease this economic pain. More in my weekly column⬇️ https://t.co/lf6kzffjJL
🧐🥦 #Food is expensive and consumes most of your income in 30 years. https://t.co/bUR0PIJfWn
'Bidenomics' is too expensive and must Americans can’t afford it. https://t.co/CDoeeGuFzp