Staff Reports
The Biden administration claims the economy is improving, but in reality, families are feeling the pain of skyrocketing prices caused by inflation. Prices have surged over 20 percent since Biden took office, making everyday items more expensive. This hits hard-working Americans the most, as they struggle to make ends meet.
The Federal Reserve’s response to inflation has only made things worse. By doubling interest rates, mortgage rates have shot up, making homeownership unattainable for many. What used to be a 2.5 percent mortgage rate is now around seven percent, putting buying a home out of reach for too many families.
The Fed is keeping interest rates at a 23-year high for the seventh time in a row as inflation continues to hold up rate cuts https://t.co/UhykZPmA9H
— CNN (@CNN) June 12, 2024
Despite hopes for relief, the Fed’s decision to maintain current rates offers little help. Plans for rate cuts have been continuously pushed back, leaving Americans in financial uncertainty. The Fed’s predictions have consistently missed the mark, leaving many questioning their competence.
Overall, the middle and lower class are left to bear the brunt of economic struggles. While the wealthy have ways to keep prospering, working-class individuals are left behind, unable to secure financial stability. Biden’s reckless spending has only exacerbated the situation, showing a lack of consideration for the average American.
In conclusion, the Biden administration’s economic policies have failed the American people. Inflation and soaring prices are crippling families, while the government’s attempts to address the issue fall short. It’s time for leaders to prioritize the well-being of all Americans, not just the elite few.
