President Biden and Vice President Harris’ runaway spending has directly resulted in soaring prices for Americans–from housing to groceries–that make day-to-day life unaffordable and the American dream unattainable.
GOVERNMENT SPENDING IS OUT OF CONTROL
Biden and Harris’ unprecedented government spending spree has created widespread economic turmoil and staggering debt.
FAST FACT: Between March 2020 and December 2022, the federal government spent $7.5 trillion—more than $57,400 dollars per household.
FAST FACT: The Democrats’ so-called Inflation Reduction Act cost taxpayers trillions, led to increased inflation, and included an estimated $1.2 trillion price tag exclusively for green subsidies, such as expensive electric vehicles. The bill did nothing to reduce inflation but has steadily increased the cost of your gas, groceries, and rent.
AMERICANS ARE STRUGGLING TO FEED THEIR FAMILIES
The Biden-Harris administration’s spending has created unprecedented inflation, resulting in increased costs of groceries for American families.
FAST FACT: Food prices have increased by 30% on Harris’ watch. Egg prices are up 40.9% under Bidenomics, and flour, sugar, and butter have skyrocketed by 38.3%, 30.7%, and 35.9%, respectively.
SKY-HIGH HOUSING COSTS MAKE THE AMERICAN DREAM UNAFFORDABLE
Under Biden and Harris’ tenure, housing prices skyrocketed and rent affordability is at its worst on record, making the American dream unattainable for many.
FAST FACT: Since the Biden-Harris administration took office, the median home price has jumped over 27%, and interest rates have risen from 2.8% to 7.2%.
INCREASED PRICES AT THE PUMP
The Biden-Harris war on the U.S. energy industry prioritizes “sustainable” policies, which cut domestic production of fossil fuels, over American interests.
FAST FACT: In April 2022, the average price for a gallon of gasoline was $4.23, up more than 78% since Biden took office. In May 2024, the cost per gallon in some states was as high as $5.00.
HEALTHCARE COSTS ARE THROUGH THE ROOF
Biden and Harris’ bad policies have led to increased levels of government spending, adding more pressure on Americans struggling to receive affordable, high-quality health care.
FAST FACT: Under Harris and Biden’s leadership, average monthly premiums and deductibles have increased, having risen from $5,100 (self-only policy) and $10,300 (family policy) in 2013 to $6,894 (self-only) and $13,949 (family) in 2021. Additionally, spending and enrollment for Medicaid have ballooned.
FAST FACT: The Biden-Harris administration’s Center for Medicare and Medicaid Services finalized cuts to the popular and effective Medicare Advantage (MA) program that will mean seniors will be paying extra $33 per month starting in January 2025.
Biden and Harris’ bad policies and reckless government spending are squarely to blame for the cost-of-living crisis. Americans are bearing the brunt of these policies at the pump, in the grocery store, and at the pharmacy. We need policies that put American interests first by taming inflation and making day-to-day life affordable again.