Study: Joe Biden’s Inflation Fueling American Hunger
Mar 21, 2023 16:18:04 GMT -5
Post by schwartzie on Mar 21, 2023 16:18:04 GMT -5
Study: Joe Biden’s Inflation Fueling American Hunger
WENDELL HUSEBØ
21 Mar 2023121
Food prices have increased under President Joe Biden’s leadership, fueling American hunger, as nearly a quarter of Americans sometimes don’t get enough to eat, an Urban Institute study revealed Tuesday.
When Biden assumed office in 2021, 20 percent of Americans sometimes cannot afford enough food. That number spiked to 24.6 percent at the end of 2022, a 23 percent increase in a single year.
The study also revealed that 63.2 percent of adults reported their household grocery costs increased “a lot” last year. The adults most impacted under Biden’s leadership were hispanic and black adults.
Those whose food costs spiked “a lot” were nearly twice as likely as other adults to sometimes not afford enough food (29.0 percent -16.5 percent).
Biden has claimed inflation is going down. Despite his claims, American households have not received any relief in the grocery store aisles. In the past year, prices have spiked for eggs (70.1 percent), dairy (14.0 percent), cereals (15.6 percent), and cookies (16.3 percent). Overall, food prices increased by 10.4 percent between December 2021 and December 2022, hitting a 40-year high for inflation.
Food prices were among the most impacted by Biden’s price hikes. Next to food costs, 55.5 percent felt the pain of gasoline price hikes, 26.4 percent were impacted by heating costs, 26.2 percent child care, 12.5 percent health insurance, and 8.1 percent mortgage payments.
“Because of recent price increases, 62.0 percent of adults whose grocery costs increased a lot reported either reducing the amount of food they bought or not buying the kinds of foods they wanted, 43.3 percent withdrew money from savings, and 36.3 percent increased credit card debt,” the study found. “About 16.5 percent received charitable food.”
The study sampled 8,142 adults ages 18 to 64 in December 2021, and in December 2022, 7,881 participated.
The study’s revelations come as 41 percent of American families say their financial position has worsened since Biden assumed office — the worst result in 37 years, according to a February Sunday ABC News/Washington Post survey. Just 16 percent said their financial health was “better off” under Biden.
WATCH: Fmr. Obama Econ. Adviser Furman–‘Nothing’ About CPI Is Comforting, Inflation Is ‘a Lot Higher’ than We Thought It Would Be
Video at link
WENDELL HUSEBØ
21 Mar 2023121
Food prices have increased under President Joe Biden’s leadership, fueling American hunger, as nearly a quarter of Americans sometimes don’t get enough to eat, an Urban Institute study revealed Tuesday.
When Biden assumed office in 2021, 20 percent of Americans sometimes cannot afford enough food. That number spiked to 24.6 percent at the end of 2022, a 23 percent increase in a single year.
The study also revealed that 63.2 percent of adults reported their household grocery costs increased “a lot” last year. The adults most impacted under Biden’s leadership were hispanic and black adults.
Those whose food costs spiked “a lot” were nearly twice as likely as other adults to sometimes not afford enough food (29.0 percent -16.5 percent).
Biden has claimed inflation is going down. Despite his claims, American households have not received any relief in the grocery store aisles. In the past year, prices have spiked for eggs (70.1 percent), dairy (14.0 percent), cereals (15.6 percent), and cookies (16.3 percent). Overall, food prices increased by 10.4 percent between December 2021 and December 2022, hitting a 40-year high for inflation.
Food prices were among the most impacted by Biden’s price hikes. Next to food costs, 55.5 percent felt the pain of gasoline price hikes, 26.4 percent were impacted by heating costs, 26.2 percent child care, 12.5 percent health insurance, and 8.1 percent mortgage payments.
“Because of recent price increases, 62.0 percent of adults whose grocery costs increased a lot reported either reducing the amount of food they bought or not buying the kinds of foods they wanted, 43.3 percent withdrew money from savings, and 36.3 percent increased credit card debt,” the study found. “About 16.5 percent received charitable food.”
The study sampled 8,142 adults ages 18 to 64 in December 2021, and in December 2022, 7,881 participated.
The study’s revelations come as 41 percent of American families say their financial position has worsened since Biden assumed office — the worst result in 37 years, according to a February Sunday ABC News/Washington Post survey. Just 16 percent said their financial health was “better off” under Biden.
WATCH: Fmr. Obama Econ. Adviser Furman–‘Nothing’ About CPI Is Comforting, Inflation Is ‘a Lot Higher’ than We Thought It Would Be
Video at link
