New Analysis Sheds Light on Impact of Inflation

New Analysis Sheds Light on Impact of Inflation

(TargetLiberty.org) – The Biden administration has admitted that inflation is a problem, even if they don’t seem to know what to do about it. The search for a solution is getting urgent, though, because the poorest Americans will be the first to suffer if our leaders don’t get a grip on the situation.

On November 15, Senator Mike Lee (R-UT) handed a new analysis paper to Congress’s Joint Economic Committee. The paper focuses on inflation and its impact on Americans. Some Democrats are claiming that inflation is a sign of economic recovery, but the analysis suggests that it’s piling pressure on the most vulnerable people in the country – exactly the same people Biden promised to protect.

Lee revealed the very poor are the most likely to see inflation as a top national concern – 10.5% more likely than the rich. Rising gas prices were highlighted as one of the biggest issues, especially for people who live in rural areas. The impact goes beyond the poor, though. Middle-income households are suffering too, and research by the World Bank and International Monetary Fund shows that higher inflation will push more middle-class workers into poverty. Although Biden has, at last, admitted that inflation is hammering our economic recovery, will he actually do anything about it?

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