Byron Donalds: Biden’s Price Hike Hits Southwest Florida
SOUTHWEST FLORIDA (FLV) – The meteoric rise of inflation under President Biden has proven to be catastrophic to America’s middle and lower-class.
President Biden’s inability to grasp the inner workings of our economy has forced the unthinkable onto American families, bringing severe economic hardships on the heels of a once-in-a-century pandemic. American families and seniors on fixed incomes in Southwest Florida must choose between a full tank of gas, sufficient food on the table, sacrificing new clothes for the kids, or affording summer camp.
Unfortunately, these are genuine conversations occurring at kitchen tables across the nation, not just in Southwest Florida—one of the many hard realizations of Biden’s Price Hike.
Today, real wages are down, the price of goods is up, and hyper-inflation in our nation means a diminished purchasing power of the average family. In early June, CNBC reported just how drastically inflation impacts our national economy. With CNBC stating that actual average hourly earnings have decreased 3% in 12 months, it’s clear that this administration’s misguided efforts to reduce inflation have done very little to alleviate the stress and strains of the historic Biden Price Hike. For example:
– Energy costs rose 106% in the last year;
– Food prices have climbed over 10% in the past 12 months;
– Used vehicle prices increased by over 16% in a year; and
– Airfare prices increased by 12% just in the past month.
A Forbes article released in early June also states that 67% of Americans are draining their savings account to maintain their standard of living amid this historic inflationary pressure. Surging prices across the board have forced the average American household to spend an extra $460 per month, totaling over $5,500 a year.
It’s no secret that the Southwest Florida community relies heavily upon the hospitality and service industries to keep our economy growing and expanding. Business owners now face the harsh reality of President Biden’s self-inflicted inflation by forcing them to:
– Lay off hard-working employees;
– Cut staff hours;
– Raise costs; and
– Discuss the possibility of closing business doors.
The Naples Daily News reported in early June that 79% of hoteliers in Collier County projected a decrease in their summer bookings from last year. While the summer season is typically slower for businesses than the rest of the year, this projected decline in visitors shows should send a loud warning signal to the Democrats in charge in Washington.
Our community is home to countless hard-working and proud seniors who left their home states to escape high taxes, live closer to family, and enjoy the freedom that Florida offers. With record inflation, the purchasing power of seniors is now at an all-time low. Rents are skyrocketing, everyday household necessities are doubling in price, medical expenses are rising, and financial uncertainty continues to loom. As the livelihoods of millions hang in the balance, the inflation crisis is no longer a buzzword that left-leaning media pundits can ignore.
With the hardworking tax dollars of the American people in mind, I’ve consistently voted against massive spending packages in Congress. Amid political pressure from Democrats and the media, I refused to cave, putting your financial future first. The president sternly projected that everything he’s doing is to “save lives,” ignoring the fact that more Americans are hurting more now than ever.
President Biden must end his out-of-control spending spree, empower American energy producers, minimize bureaucratic regulations, and rein in the excess stimulus. Biden received every tool needed at its disposal for a historic economic recovery. Three COVID-19 vaccines, a distribution plan, a ravenous demand to fill jobs, and a population ready to re-engage in the economy—but his desire to out liberal FDR ruined it all.
Southwest Floridians and the rest of the nation will not forget the economic pain and suffering caused by this administration. I hope that come 2022 and 2024, the voters hand the Democrat Party a clear message that enough is enough. The economic hardship that Americans are facing isn’t because of a lack of federal spending, Vladimir Putin, or Donald Trump — it lies at the hand of President Joseph R. Biden.
