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Inflation is essentially the result of excessive Federal Reserve money printing and government spending, thereby expanding the money supply, which leads to prices rising and effectively acts as a hidden tax on everyone.The dark reality of Bidenomics is 18.0% inflation under the President’s watch, which is 5.9% on an annual basis. When he took office, inflation was at just 1.4%. Since March 2021, it has stayed above the Federal Reserve's 2% target for 36 consecutive months.Average hourly earnings for all employees dropped 2.5% to $11.11 in February 2024 from $11.39 in January 2021 when Biden assumed office.Further, amid ongoing layoffs and employers cutting costs, salaries are under pressure. For example, a 2023 ZipRecruiter report on pay trends showed that 48% of 2,000 U.S. companies surveyed lowered pay for certain roles. According to Indeed data, U.S. wage growth for advertised roles climbed to 9.3% year-over-year in early 2022, but it has since fallen to 3.6% in January 2024 due to reduced demand.
