According to a recent Suffolk School Today poll, more than four in ten Americans have been forced into making cuts to their regular routines and purchases, including the number of groceries they buy.
This is due to Bidenflation.
Tighten Your Belts
Respondents were questioned in the study about the behaviors they had to change as a result of the growing costs of living in President Biden’s United States of America.
As per the Department of Labor, inflation increased to an annual rate of 9.1 percent in June, significantly higher than experts anticipated.
What’s more, according to some, is prices for necessities like food increased by more than 9.1%. Food costs, for instance, increased by 10.4% and 12.2% respectively in the previous year.
According to the research, the cost of energy has increased by 41.6 percent over the past year, with gasoline prices rising by 59.9 percent in particular.
The public and news outlets have latched onto the two-quarter rule to define a recession, because it’s easy to determine in real time, even if it’s not official.https://t.co/t0FH0AP1jM
— Poynter (@Poynter) July 31, 2022
Americans were compelled to alter their routines as a result.
In response to inflation, 45.3 percent of Americans reported having to reduce their grocery spending, while 59.4 percent claimed they are now dining out less frequently.
A further 48 percent reported reducing their driving, and 45.4 percent said they were delaying or canceling trips, owing to rising prices.
The Numbers
After two quarters of negative GDP growth, all indications continue to point to a downturn in the U.S. economy.
The first quarter saw a 1.6 percent decline in the economy. For many Americans, the definition of a recession is two consecutive quarters of economic contraction.
However, analysts rely on the Economic Policy institute (NBER) to determine when a recession begins. Recessions are defined by the NBER differently and are often not recognized until several months after they have started.
The National Bureau of Economic Research determines when the U.S. economy is in a recession. No one else.
— CeCe Pro Democracy (@CeCeeRiggs) July 31, 2022
The current quarter’s GDP fell by 0.9 percent.
As the midterms get nearer, the current status of the economy poses a problem for Democrats. The Democrat Party now holds absolute control over Washington, DC.
Survey after survey reveals Americans will be voting in November with business as their top concern.
Rep. Al Green (D-TX) said on Saturday’s episode of “Fox News Live” that now the financial system is in “a mild recession,” but not “a downturn of the type that we usually experience.”
Green then said his core supporters and Americans are experiencing a downturn because of inflation; though “we ought not to try to reach the conclusion that any head of state would be capable of handling this easier than this head of state has handled it.”
“It’s technically a recession, but you can’t ignore the reality we’re adding jobs and unemployment is relatively low,” Green said.
“These two facts might lead one to believe that we are not now experiencing a typical recession and we are making efforts to stop that from occurring.”
This article appeared in The Patriot Brief and has been published here with permission.
