A Kamalanomics Nightmare
In the Harris-Biden economy everything costs more. Prices are up 20% under Kamala Harris and Americans are still reeling from the lasting effects of inflation. The latest Consumer Price Index (CPI) data shows year-over-year inflation increased in July by 2.9% – twice the rate compared to when Harris and Biden took office. On a year-over-year basis, inflation under Harris and Biden has averaged 5.3% – roughly double the level of inflation seen under any of the last four administrations.
Since Harris took office:
Car insurance is up 54%;
Hotel prices are up 51.2%;
Gas prices at the pump are up 50.5%;
The price of fuel oil is up 49.1%;
Transportation costs are up 32.9%;
Electricity costs are up 31.7%;
Baby food prices are up 30.1%;
Eating out is up 23%;
Airfare is up 22.6%;
Rent is up 22%;
Groceries are up 21.6%.
With persistent inflation having eaten away at wage gains, more and more Americans are struggling financially. Real average weekly earnings are down by 3.9% since Kamala took office; they increased by 8.2% under President Trump.
The cost of living is becoming increasingly unaffordable. Hardworking Americans are struggling to survive financially as Kamalanomics continues to drain the wallets of families and businesses across the country. Kamalanomics has cost the middle class $2.4 trillion since March 2022, with the average middle-class household losing at least $33,000 in real wealth. Americans have now lost over $4,562 paying higher energy costs since Harris and Biden took office.
The Fed has hiked interest rates 11 times since March 2022 – now at their highest level in 22 years – making it harder for families to buy a home, finance a car, pay off debt, and perform various other financial transactions. Americans need a six-figure salary to afford a typical home in nearly half of U.S. states. After massive rental inflation, rents are stuck at persistently unaffordable prices and a record share of renters spending more than 30% of their income on housing.
Biden’s favorite economist – Moody’s Mark Zandi – said that purchasing a home or a car right now is “completely unaffordable for the typical American household .” The cumulative effects of these interest rate increases are squeezing Americans’ finances, punishing low-income and younger Americans.
- Americans finances are being decimated under Kamala Harris.
- Nearly half of Americans consider themselves “broke.”
- 66% of Americans worry about covering one month of expenses if they lose their job.
- Nearly two-thirds of consumers report living paycheck-to-paycheck, up 8 points from last year.
- The personal savings rate was 3.4% in June, well below a decades long average of roughly 8.9%.
- Americans are increasingly borrowing to cover daily expenses, finding their regular income is no longer enough to make ends meet.
American families are seeing higher prices for virtually everything, and they know exactly who to blame: Harris, Biden, and Democrats.
- 61% of Americans believe the economy is on the wrong track and 60% think the economy is weak, according to a Harvard-Harris poll.
Americans trust President Trump to handle the economy and inflation over Harris by a 14-point margin, according to a YouGov poll.
Are you better off now than you were under President Trump? Of course not. President Trump has a proven track record of making this country prosperous
and affordable, and Americans can trust him to put more money back in their pockets again.
Data courtesy of the RNC Research…

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