Close to half the population rent, and the rents have gone skyhigh, along food, gasoline, and other necessities. That’s why a majority of Americans are stressed financially, and about 40% are actuallt struggling.It's deceptive to claim your money is worth 20% less. First, it depends on how you spend your money. If most of your income goes for food and gasoline, that figure is probably correct. However, if most of your income goes to healthcare, taxes, retirement, and other investment then those dollars are buying only slightly less than before the inflation.
Secondly, wage increases and cost of living adjustments are reducing the effect of inflation. Many retirement systems including Social Security adjust benefits for inflation.
The overall increased cost of goods and services has a circular effect on wages. Higher wages will eventually compensate for the increased prices of consumer goods and services. Until last March, the growth rate of wages was less than the inflation rate. Since March the growth rate of wages have exceeded the inflation rate. Today wage increase are running 1.5% higher than the inflation rate. So most people will eventfully be compensated for the inflation.
So the Dems’ desperate claim that the economy is strong won’t work. People go to the supermarket, and to the gas station. They’ve seen their rents go way up. So, to quote Judge Judy “don’t pee on their legs and tell them it’s raining.”
The people who aren’t impacted fall on both extremes of the scale: the affluent elitists on one hand, and the government-dependent class on the other.
The middle class, and in particular the working class, are suffering under the high inflation period we just went through - and the constitute the largest voting bloc. And they’re not happy.