Recent economic data highlights significant inflationary pressures under President Joe Biden's administration, with American families facing increased costs for basic goods and services. Inflation has surged to 19.4% since Biden took office, with a notable 3.5% increase over the past year, and has been at or above 3 percent for 36 straight months. This has led to a substantial rise in living expenses, with Americans reportedly spending nearly $12,000 more annually. The impact is particularly severe in the housing market, where average 30-year fixed mortgage rates have escalated from 2.77% to 7.10%, and the median monthly payment for a home purchase is up 10.6% over last year, making homeownership increasingly unaffordable. Critics attribute these economic challenges to 'Bidenomics,' criticizing the administration's fiscal policies for exacerbating the cost of living and hindering the attainment of the American Dream.
Average 30-year fixed mortgage rates continue to increase after passing 7% earlier this month, indicating a troubling trend for potential homebuyers. https://t.co/Z6Nekrljph
Americans are now spending $12,000 more annually just to buy the basics. #Bidenflation is a direct result of Joe Biden and far left Democrats' out-of-control government spending. @HouseGOP is fighting each day to bring affordability back to Main Street.
๐ When President Trump left office, the average mortgage rate was 2.77%. This week, the average 30-year fix mortgage rate jumped to 7.10%. #Bidenomics has made it harder for Americans to achieve the American Dream.
Buying a home, maintaining a career, raising a family, and comfortably retiring used to be the American dream. Under Bidenomics, the dream has become just to afford basic gas and groceries, the American dream is quickly becoming unattainable. https://t.co/gEdF11Klcq
Americans in every state are reeling from almost $1,000/month in added costs under the Biden presidency.
Americans are being forced to pay more for less as #Bidenflation skyrockets. https://t.co/tfW0E3byJL
๐ก๐Mortgage rates are skyrocketing in Joe Biden's economy as reckless Democrat spending comes home to roost. It's harder than ever to become a homeowner in @POTUS's economy. https://t.co/xCwQ00MqZe
Prices are up nearly 20 percent under President Biden โ with 36 straight months of inflation at or above 3 percent. https://t.co/p5VzErbhLH
BIDENOMICS: โ The median monthly payment for a home purchase is up 10.6% over last year. โ Mortgage rates went from 2.77% when Biden took office to 7.10% today. โ 58% of Americans say Biden's policies have "HURT" the cost of living. https://t.co/7IWOIyfKNA
Inflation is up 3.5% over the past year and up 19.4% since Biden took office. From groceries to gas, Americans are paying more for just about everything. https://t.co/3L4lua4EZD
#Bidenomics The Housing Affordability Crisis. https://t.co/8cEjvLAFBN
Bidenomics is destroying the opportunity of homeownership for millions of hardworking families. Our fight for fiscal sanity in Washington has never been more important โ the American Dream depends on it. https://t.co/ZoIFHcsPvc
Americans are spending almost $12,000 more annually for basic goods under Joe Biden. #Bidenflation is the real consequence of #Bidenomics.
President Biden's inflationary policies are costing California families an extra $1,222 every month for the same goods and services they purchased before he was sworn into office, according to the latest economic data. https://t.co/oW50YLjjkw
#Bidenflation is costing Americans over $12,000 a year compared to three years ago.