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US Politics: Guess which party thinks cost of living rose $11,400 since 2021, and which party thinks your disposable income increased $21,000 in that period?
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https://www.cbsnews.com/news/inflation-households-need-extra-11400-these-states-its-even-higher/

The answer may surprise you. Republican members of the U.S. Senate Joint Economic Committee claim the cost of living is up $11,400. Democratic Biden administration called the analysis "flawed" and said disposable household income is up $21,000 since December 2020.

So which is closer to what you're feeling? Have expenses outpaced your income growth for the past 3 years, or do you have tens of thousands of more disposable income (after expenses)?

To be clear I don't blame or credit either party directly; economy is more complex than Red vs Blue. Neither party is committed to addressing the foundational problems in our capitalism. But how they report our economic reality is certainly going to impact their policies. No wonder Jerome Powell thinks workers need to be disciplined by higher unemployment (and death).

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1 year ago