They are now calling it 'Biden-flation'. A brutal mix of higher prices, and massive government spending. It's the 1970's all over again.
"We're going to have to ride this out for at least the next 20 months, and that may be a little on the conservative side" said Lone Star College economist Hank Lewis.
Supply chain issues, back ups at the ports, labor shortages, not enough truck drivers, have all led to higher inflation which is up 5.3% from just a year ago.
Add to that, the needless number of gas prices hitting their highest level in 7 years! With some places charging up to $5 a gallon.
The Biden administration has tried to spin that this is a temporary problem, but it is not. Adding over $4.5 trillion more in debt is only going to make it worse.
"That's just the reality of it" Lewis told KTRH while noting that food and energy top the list of costs that effect families. As a result, the average American family is now paying an extra $175 dollar a month, due to the Biden administration inflation.
"Find ways to do more with less, clip coupons, check for whatever discounts you can find, and find the ways to cut the corners where you can" Lewis said.
Get used to it. We've got 3 more years to go until 2024.
Photo: Getty Images