Bidenflation Grills July 4th Revelers

Despite Treasury Secretary Yellen's denial, American families are feeling the heat of inflation, with costs for cookout staples rising 30% since 2019.

In a recent interview, Treasury Secretary Janet Yellen downplayed concerns about inflation, claiming that she hadn't experienced "sticker shock" at the grocery store. However, the reality for American families is far different.

The American Farm Bureau's annual 4th of July market-basket survey shows a staggering 30% increase in the costs of cookout staples since 2019, a stark reminder of the inflationary pressures facing families.

Bidenflation Grills July 4th Revelers

According to the Food Industry Association’s 2024 Food Prices & the Consumer report, 70% of shoppers are concerned with rising prices at grocery stores, with 39% "extremely concerned." The Advantage 2024 Shopper Outlook survey found that over half of shoppers have reduced their purchases or changed where they shop to save money. Most alarmingly, 20% of shoppers surveyed admitted to skipping meals to save money.

Treasury Secretary Yellen's denial of inflation's impact is either a sign of being out of touch or an attempt to downplay reality. The truth is that the Biden administration's unprecedented level of government spending has set off inflationary pressures unseen in decades.

Bidenflation Grills July 4th Revelers

Despite these inflationary pressures, the Biden administration's spending continues unabated. This has led to persistently high inflation, keeping interest rates high and making home purchases and other loans unaffordable.

The Biden administration's deficit spending has reached astronomical levels, with the national debt standing at about $35 trillion and increasing by $1 trillion every three months. Our interest obligations are already set to exceed what we spend on national defense, diverting an increasing percentage of federal resources.

Bidenflation Grills July 4th Revelers

Just a few years ago, former President Trump's deficit was criticized as being "Worse Than a Broken Promise." This year, the deficit under Biden and Yellen will exceed $2 trillion, without the justification of a pandemic.

Bidenomics spending is driving inflation, the economy, and prosperity for American families over a financial cliff. Given the severity of this situation, it is fair to question whether our economy is in the hands of a group of extremists determined to undermine America's economy and position in the world.

Despite the Biden administration's efforts to obscure reality, inflation is hitting our nation's July 4th holiday celebrations, BBQs, and the dinner tables of American families. The question remains whether Americans will continue to tolerate this economic insanity.