Chart: Sticker shock over last 4-years

By Taxpayers Association of Oregon Foundation,

Despite the Biden administration’s claim that our economy is not so bad, statistics show that everyday Americans are struggling to make ends meet.  Two graphs show just how extreme the financial stress is on Americans.  According to the US Bureau of Labor Statistics during the Biden administration overall consumer prices have climbed 25% and food prices are up 20%.

So how are Americans coping?  This graph from the Federal Reserve shows that consumers have racked up more and more credit card debt during the past four years.

American’s credit card debt is at its highest level ever.