Under Joe Biden, the CPI has increased 15.3%. Groceries up 19.6%, energy up 32.9%, gasoline up 43.7%. Now, these price hikes, which are the soft underbelly of the Biden economy, they are the reason why a recent poll shows that 61% of Americans believe we’re in a recession. And 63% disapprove of Biden’s handling of the economy. And it is precisely the inflation that has slammed worker wages into the ground.
During the Biden administration, real wages have fallen 2.7% over nearly 2.5 years. During the Trump administration, real wages went up 7.3%. People do have jobs, but they’re losing money after inflation and taxes. Reagan called it “take-home pay.” Under Biden, it’s take-home pay cuts. That’s why this is going to be a pocketbook, kitchen table election. And that’s why Donald Trump is running 30 to 40 points ahead in the polls.