![]() ![]() Axios argues that the administration’s arrogant claim that “voters like the economy much more than they’re willing to admit”, is correct. No, we do not, because when we pay our bills each month, we know they’re a lot more than three per cent higher than they were last year. Yet Americans don’t necessarily see it that way”. “By traditional measures, the economy is strong. ![]() In a typical piece in The New York Times in November on the alleged “great disconnect” between official figures and the experiences of ordinary Americans, for example, here’s how a pair of reporters (read: activists) gushed in their lede: News outlets keep telling us that the economy is just fine but we’re too dim to understand it. That’s why they habitually regurgitate Democratic party talking points about inflation falling two-thirds from its peak. ![]() And so, he only cares about inflation because he’s terrified of being evicted from the White House by Donald Trump. We learned this week that he’s so flush he considered installing an in-ground pool in a home he was renting. But her employer’s portion of the tab has skyrocketed 21 per cent, from $1,657 per month to $2,010 in a year.ĭespite being a middling career politician without a passionate fan base, the President is worth $10 million. Like most Americans, we have private health insurance subsidized by an employer (my wife’s) and our monthly portion of the bill has risen modestly from $602 per month to $620. But it seems that much of this saving is confined to the 21 million Americans who have insurance through the Affordable Care Act, better known as Obamacare. Biden touted falling health care costs in New Hampshire, and indeed inflation figures suggest that health insurance has dropped by nearly 20 per cent in the last year. Seven per cent is typical now, and, according to the realty site Zillow, the income level needed to comfortably afford a home in the US has increased 80 per cent, from $59,000 to $106,500, since January 2020. Luckily, I purchased the home I now live in in 2019, with a 3.5 per cent interest rate. Insurance prices are a component of how the inflation rate is calculated but there’s huge regional variation and you’d have to be a NASA scientist to understand the Bureau of Labor Statistics weighting system. We’re searching for new insurance policies, but the pickings are slim, particularly in Florida where insurance scams and hazardous weather events are as unremarkable as a cloudy day in Glasgow. In the immortal words of John McEnroe, you cannot be serious, Joe.Īuto insurance has risen 20.6 per cent in the last year, the sharpest spike since 1976, when Jimmy Carter, another Democratic President who was undone by inflation, was elected. ![]() And yet, Joe Biden had the chutzpah to promote his abysmal record in New Hampshire this week under a huge banner with the words, “Lowering Costs for American Families”. For most Americans, it feels much higher. Inflation stood at 3.2 per cent in February, according to data released this week. Last week, our insurance company, USAA, which is regarded as an affordable carrier and is only available to veterans and their families, informed us that our policy would rise to $7,498 (£5,882) per year if we add my teenage son to our policy. The trouble is, for a lot of Americans, this just doesn’t match what’s happening in our lives.įor instance: adding a 16-year-old to one’s auto insurance policy is often nearly as painful as a costly divorce, but in these inflationary times, it might just be worse. All over the nation’s media you’ll see it. ![]()
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