Eighty-eight (88) percent of Americans believe inflation is not “transitory” as claimed by confident economic technocrats; it will continue to rise, according to Paul Bedard of the Washington Examiner report.
The Biden-Harris administration downplays this trend, but inflation is growing, as new data shows. According to projections from the Statista Research Department, inflation is projected to grow by 2.5% through 2024 and is expected to taper off by 2026. At the moment, inflation stands at around 5.4%.
Americans are feeling it in their pocketbooks as they are paying 45% more for gasoline, 44% more for fuel oil, 5.6% more for milk, and 8.4% more for bacon.
The Washington Examiner was provided the survey from Skynova, an online invoicing firm. It indicates 61% of Americans believe inflation will negatively impact the economy, with middle-class families, the young, and the elderly taking the blow.
The congressional Democrats are proposing the extreme spending bill on “infrastructure” and an assortment of pet projects to appease their constituencies . Estimates show the Democrat’s spending is estimated to reach $6 trillion. Eighty-eight percent of the respondents in the Skynova survey feel the political issue of inflation must be addressed.
“Most respondents were familiar with the concept of inflation, and based on their knowledge, the majority expected price levels to rise in the short term. Compared to other societal issues like politics, inflation was agreed to be a relatively important topic to consider in all cases,” the survey’s analysis revealed.
The U.S. government’s policies and addiction to big spending are on a path to economic collapse. Economists like Thomas Sowell have been warning about the financial illiteracy of the ruling class.
Unfortunately, politicians mostly ignore Sorwell’s condemnation of big spending, resulting in the American people being forced to pay the high price for their elected official’s economic foolhardiness.