Inflation Kills the Working Class

By: K.L. Hayden

The inflation numbers are in, and they are terrifying for working-class Americans who are struggling to put food on the plates of their families.

The Biden administration signed the “Inflation Reduction Act” in 2022. This legislation spent $1.7 trillion to supposedly stop inflation, but inflation has increased due to the law.

A study put out by Intuit Credit Karma said that 80 percent of Americans feel inflation the most at the grocery store where food is becoming extremely expensive.

A CBS News report stated that supermarket prices are 25% higher right now than they were in Jan. 2020, with overall inflation at 19%. Since last year, fast food prices have jumped 5.8%. A new study from Lending Tree showed that 78 percent of Americans now see fast food as a luxury item.

Inflation is particularly harmful for Americans receiving social services, like Social Security or other government assistance programs. Essential goods and services becoming more expensive is harmful to those living on a fixed income, and for those on Social Security, yearly adjustments for inflation cannot be updated fast enough for these people not to be shortchanged on the benefits they are counting on to survive.

The bottom line is that this inflation is hurting the little guy the most. Prices across the board have jumped 20% in the past four years. This is crippling working-class Americans, and the Biden administration is doubling down on all the failed decisions that have caused the problem.