A survey published Thursday found that two in three Americans think inflation is going to get worse in 2023.
The 2023 Fed Hike Survey conducted and published by WalletHub used numerical data to confirm what those of us living in real America already know: things are getting increasingly expensive, there is a financial crisis happening and it’s impacting the way that 90% of us spend our money.
Despite all of the evidence and the lived experiences of real Americans, the White House continues to double down on the lie that “the Biden economy is working.” Then again, is this really a lie if this economy is working for those who can make huge amounts of money while in public office?
Here is what Americans living outside of the political bubble revealed to WalletHub:
- 2 in 3 Americans think inflation is going to be worse in 2023 than in 2022.
- Nearly 9 in 10 people say inflation will impact their spending in 2023.
- 70% of Americans say their monthly grocery expenses have been affected by inflation the most, followed by gas (21%) and housing (9%).
- 87% of Americans are concerned about inflation right now, 8% more than in December 2022.
- 70% of Americans think a recession is inevitable
- 45% of Americans are not financially prepared for a recession.
Still, Biden continues to say that he has “no intention of letting Republicans wreck our economy,” in spite of major financial warnings that have appeared since he took office. Senate Republicans responded to Biden’s statements with a graphic showing the changes in America’s economy over the last two years, and it’s hard to refute their evidence.
Financial experts like Michael Burry, Nouriel Roubini, Stanley Druckenmiller and others have been consistently warning Americans than we’re in a major financial crisis that could last through the rest of this decade.
“Businesses are worried about hiring. They’re worried about making the investments that will make their companies more efficient. That’s how you lead to longterm economic stagnation. Unfortunately, that’s the story of the Biden economy right now.” – Senator @JDVance1 pic.twitter.com/5N3q2H8nBh
— Senator Vance Press Office (@SenVancePress) January 26, 2023
Reports published Thursday also contradicted Biden’s claims, showing that economic growth has cooled slightly. The cooling is coupled with mass layoffs from all major tech firms and financial institutions after terrible earnings reports and other trends related to the COVID-19 pandemic social bubble.
“Businesses are worried about hiring. They’re worried about making the investments that will make their companies more efficient. That’s how you lead to long term economic stagnation. Unfortunately, that’s the story of the Biden economy right now,” Republican Ohio Senator J.D. Vance told Fox News on Thursday. (RELATED: Michael Burry Sells All But One Stock, Warns Of Market Crash)
If everyday Americans, financial experts, and lower-level politicians are aware of our current economic crisis but our president and his administration are not, we have a huge problem. The purpose of political leadership is to make things easier, safer and more secure for the people who put them in office. But our current administration is gaslighting the nation, badly, with propaganda that does not match our lived experiences.
WalletHub’s survey was conducted with a “nationally representative” sample of over 200 people between Jan. 9 and Jan. 13, 2023, according to the WalletHub website.