Inflation Hits Four Decade High While Wages Shrink

Today, the U.S. Department of Labor announced inflation has risen to 8.6% - the highest price increase in 41 years. In the past year, American workers have seen grocery prices rise 11.9% while at the same time, their real average weekly earnings decreased by 3.9% over the last year.

"Michigan families and seniors are experiencing the highest price increases in four decades as inflation under President Biden is forcing them to take a pay cut. Their money does not go as far as it used to and they're spending more on the essential items they need. They're struggling with gas prices that cost more than $5 a gallon, while at the same time Biden and his team do little to expedite the approval of more American energy," said Congressman John Moolenaar. "Biden should have listened to Republicans last year who warned his policies would cause these problems. Now, he should reverse course, end his misguided spending policies and unleash America's energy might."

Two days ago, White House Press Secretary Karine Jean-Pierre took credit for the economy, claiming "the economy is in a better place than it has been historically."