Commerce: Inflation up, income down
The Commerce Department released new numbers that paint a grim picture of the financial reality for many working Americans. According to new numbers today:
- Inflation is UP again, to its highest level in 30 years
- And personal incomes are DOWN, falling faster than anyone estimated
In other words, families are paying MORE but earning LESS – the painful consequences of House Democrats’ failed economic agenda.
“Families are seeing their costs rise and their paychecks dwindle and have only House Democrats’ runaway spending to blame for it,” said CLF Communications Director Calvin Moore. “Worse, Democrats want to rub salt in their wounds with trillions in new tax hikes and wasteful spending that will only make families’ current economic pain even worse.”