Bidenflation: More than 1 in 5 Americans now forced to use food banks or skip meals —TIPP
Less than a year ago, Joe Biden dismissed inflation with "I don't know anybody" who is "worried about inflation." He declared that "no serious economist" is, dismissing the warnings of heavyweight monetary experts, trade organizations, and even establishment Democrat economists.
Biden Flashback: 'I Don't Know Anybody' Who Is 'Worried About Inflation'— George Murray Jr (@GeorgeMurrayJr1) July 14, 2022
"There's nobody suggesting there's unchecked inflation is on the way. No serious economist," President Joe Biden said on Monday, in a Breitbart News story dated July 19, 2021.
Inflation, which clocked in at 9.1% this past Friday in the CPI, in fact, has been building for months, following a series of five gargantuan Democrat-led congressional stimulus bills premised on COVID relief mostly. The last of these passed in March 2021 as Joe Biden's American Rescue Plan Act, pumping $1.9 trillion into the economy. When the Federal Reserve prints up cash to pay for these ventures, the money doesn't have enough actual economy to absorb the newly minted dollar bills, which is what turns that cash into inflation. It's comparable to the way the human body converts excess carbs and calories it can't use into fat. And sure enough, we have a fathead president who's still denying everything he sees on the economic scale, claiming that Big Meat, greedy gas station owners, and Vladimir Putin did it.
But it's no joke to Americans who are now going hungry as a result of this Bidenflation. As in hungry, thin, starving...
One out of five is reduced to using food banks for sustenance now, according to a new report. Another one out of five is skipping meals in this land of plenty to keep food costs down.
A huge new survey from the respected pollster TIPP Insights conducted between July 6 and July 9 has found the shocking reality as to what Americans are going through as Joe lets the money roll in and out:
American families are spending 15% more than last year on food expenses. How are they coping with the cost increases?
The shocking finding is from the latest the Golden/TIPP Poll of 1,643 Americans completed past Friday.
The poll asked Americans how they were dealing with the higher food costs. While 88% of the survey respondents replied they were making changes, 10% said they had not made changes to their food budgets.
Given an option to choose all that applied, the survey found —
- 50% Buying store brands more often
- 47% Cutting down on high-ticket items (i.e., meats)
- 36% Shopping at bargain stores
- 34% Eating less (portion sizes)
- 23% Skipping meals
- 21% Go to food banks to supplement groceries
- 20% Applied and got federal or state assistance such as SNAP/WIC
- 17% Growing my vegetables
- 2% Other
It's quite incredible that in the Land of Plenty, we are now going the way of the Third World as a result of Joe Biden's Argentina-like government spending impulses. A lot more than 21% of Americans are cutting back as a result of Bidenflation — including reducing their portion sizes, cutting meat, buying cheaper brands, seeking federal handouts, anything to escape at least some of the effects of the ongoing miasma of inflation that hits everything priced in dollars. A whopping 17% of Americans are growing their own vegetables, in a labor-intensive victory-garden wish for something better.
Things like food inflation hit every American where it hurts, and it's no surprise that other pollsters, such as Rasmussen, have found that inflation is the number-one issue preoccupying voters, something the press is failing to cover.
Mollie Hemingway has an important observation about the political implications of this, featured on RealClearPolitics:
MOLLIE HEMINGWAY: This isn't a Joe Biden Problem, this is a problem shared by every voting member of the Democratic Party. The policies that made inflation so bad include spending packages supported by 100% of the Democrats in Congress. It's not really Biden economy as much as it is a Democrat economy.
It is almost a third term of the modern Democrat Party economy ushered in by Barack Obama.
The political issue is it is really in contrast with the Trump economy. Pre-Covid you had real wage growth, real wage gains for middle-class families and working-class families, and that does speak to why these people are moving to the Republican Party and away from the Democratic Party as the Democrats get more focused on pleasing their wealthy interests.
As rightly it should be a focus.
Not only are Democrats out to a very expensive lunch as to what causes inflation — which is always and everywhere a monetary phenomenon, as Milton Friedman put it — but they are still gobbling at the trough while one in five Americans is literally going hungry and reduced to begging for help.
The inflation picture isn't actually going to go down, even with a small drop in oil prices, which Joe Biden cited a day ago as reason to be hopeful. The Federal Reserve, which is now contemplating hiking rates by 100 basis points, sure doesn't think the falling energy prices will fix things as Joe claims. Inflation in fact is all over and affects every good priced in dollars, and it hits particularly hard in low-margin food prices, which have seen double-digit spikes in many products. That 21% now going to food banks can easily become 40% or more, given the impact on inflation in a nation that has never experienced it this way.
TIPP notes that Biden's claim that Putin did it isn't selling with the people it polled.
The problem is Biden, and his spendthrift Democrats. Every missed meal and absent chicken in the pot reminds the voters of that ugly reality.
Image: TIPP Insights, by permission.