Analysis: Republican National Committee

HIGHER PRICES AND LOWER WAGES FOR AMERICAN FAMILIES

• Biden and Democrats’ failed policies are squeezing Americans’ wallets, robbing them of their hard-earned money this Thanksgiving and upcoming holiday season.
  • Despite this, out-of-touch Democrats like Raphael Warnock (D-GA) just passed billions of dollars in tax hikes on working-class Americans, putting further strain on family budgets. 
• October’s Consumer Price Index soared by 7.7 percent compared to last year, remaining excessively high.
  • Core consumer prices – excluding food and energy – rose 6.3 percent compared to last year, hovering near 40-year highs.
  • Real average hourly earnings fell 2.8 percent since last year, marking the 19th month in a row under Biden in which inflation has outpaced wages.
  • Real wages have fallen every month since Biden and Democrats passed their wasteful $1.9 trillion “stimulus.”
• October’s Producer Price Index rose by 8 percent since last year.
  • This marks the19th straight month that wholesale inflation has been above 5 percent year-over-year. 
  • Core producer prices – which takes out food, energy, and trade – increased by 5.4 percent from last year.
• September’s personal consumption expenditures (PCE) price index – the Fed’s preferred measure of inflation – showed that “the cost of everyday items from food to medical care continues to rise.”
• 82 percent of Americans say economic conditions are “not so good” or “poor.”
  • 92 percent of Americans say they have been personally impacted by high inflation and more than half of Americans believe the country is already in a recession.
• As inflation continues to destroy Americans’ finances, Biden promises “nothing” will change.

DEMOCRATS LIKE RAPHAEL WARNOCK HAVE WORSENED INFLATION

• As working-class families struggle to make ends meet thanks to inflation, voters know Democrats like Raphael Warnock are to blame for rising prices.
• In 2021, Warnock voted for Biden’s $1.9 trillion “stimulus,” which even liberal economists admit fueled inflation.
• In August, Warnock voted for the Democrats’ radical Bidenflation Scam – a bill which raises taxes on Georgians making as little as $20,000 a year and increases IRS audits disproportionately on low-income and minority communities.
  • Warnock voted to give the IRS $80 billion to hire 87,000 new IRS agents.
  • Last year, the IRS audited Americans earning $25,000 a year at five times the rate of other groups and directed “more than half” of its audits at those making less than $75,000.
  • A 2019 study found that the five counties with the highest audit rates are all predominantly Black.
• Warnock even voted against an amendment to the Bidenflation Scam bill that would have protected Americans making less than $400,000 a year from additional IRS audits.
  • He also opposed an amendment that would have increased tax cuts for working families, including the child tax credit and the dependent care credit.
• To top this off, Warnock supports Biden’s student debt bailout, which experts warn will cost taxpayers billions and worsen inflation.

RISING PRICES ARE ON THE MENU THIS THANKSGIVING

• With turkey prices “more expensive than ever” and Thanksgiving Day gas prices expected to be “the most expensive … on record,” this Thanksgiving is shaping up to be unaffordable for many Americans.
• The cost of a traditional Thanksgiving meal is up 13.5 percent from a year ago according to analytics firm IRI Worldwide.
  • 38 percent of consumers expect to pay more this year for the same amount of Thanksgiving groceries as previous years.
• The price of turkey is up 17 percent from last year, with families likely to pay “record high prices at the grocery store for turkey this upcoming holiday season.”
  • Other Thanksgiving staples like eggs, butter, and flour are up 43 percent, 34 percent, and 25 percent, respectively.
• For the first time ever, it may be cheaper to dine out than prepare a meal for family and friends at home.
  • Restaurant food prices have increased roughly nine percent from last year while prices at the grocery store have jumped more than 12 percent during the same period.
• With gas prices more than $3.75 per gallon and airfares up 43 percent this year, families are having to compromise and make adjustments in their budgets to make it home for the holidays.
• 88 percent of Americans plan to eliminate at least one traditional dish from their Thanksgiving menu.

Originally posted here.