That’s How Much the Average American Household Has Lost in Income Because of Murray’s Inflationary Policies
Washington, D.C. – Inflation has been at a four-decade high nationwide – even worse in places like Seattle. A big contributor to this record inflation: the $1.9 trillion so-called “American Rescue Plan” that Patty Murray was the deciding vote for.
Because prices at the grocery store and gas pump have outpaced wage growth, Fox News is reporting that this is how much Americans lost in income during the Biden administration:
How much have Washington voters’ pocketbooks been impacted by the Biden-Murray economy?
“[A]ccording to data compiled by the Heritage Foundation … analyzed consumer prices data and the Federal Reserve’s interest rates and found in a Friday report that Americans have lost the equivalent of $4,200 of income per capita since January 20, 2021.
“Consumer prices have risen 12.7% since January 2021, much faster than wages, which Heritage analysts say has cost the average American worker $3,000 in annual purchasing power.
“Additionally, the tightening monetary policy by the Federal Reserve and increased borrowing costs on mortgages, vehicle loans and credit cards – caused by higher interest rates – have reduced the average American’s purchasing power by another $1,200 per year, Heritage Foundation says …
“[T]he average household has lost roughly $7,200, a number calculated by doubling the inflation number of $3,000 and adding $1,200 in losses from interest rates.”
Patty Murray and her price hikes are hurting Washingtonians and they are ready to hold her accountable for them on November.
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