Lafayette Reporter

Sen. John Kennedy (R-La.) highlighted the detrimental impact of inflation under President Joe Biden's administration, revealing that real wages for Americans have declined. In a recent statement, Kennedy emphasized that weekly wages, when adjusted for inflation, have dropped by 3.9% since President Biden took office.

Kennedy pointed out the financial burden faced by the average Louisiana family due to the inflation caused by President Biden's policies. He stated, "Pres. Biden's inflation—which is man-made, and that man's name is Joe Biden—is costing my people, the average Louisiana family, $806—not a year—a month! Eight-hundred-and-six dollars a month. That's $9,700 a year."

The senator further illustrated the impact of rising prices on Americans, expressing the need for a decrease in prices rather than just slowing inflation. He said, "What [Americans] care about is prices going down, and that's de-inflation, and we do not have de-inflation. The point I'm trying to make is: We're stuck with these high prices. If they get inflation down to zero, those prices are not going down."

Kennedy highlighted the significant increase in consumer goods prices since President Biden assumed office. He stated, "Since Pres. Biden has been in office, consumer goods in the United States of America are up 17%."

Moreover, Kennedy shed light on the grim situation faced by American workers. He emphasized that the average wage of the average American has declined after accounting for inflation. Kennedy stated, "The appropriate way to look at wage increases is not to look at the raw or the aggregate increase—it's looking at the increase after inflation. And if you take all the average wage increases in the United States of America, and you look at the average inflation in the United States of America, workers have actually lost ground. Workers today—in Nov. of 2023—are actually making less per hour, after inflation, than they were in Feb. 2021."

The remarks made by Sen. John Kennedy highlight the concerning trend of falling wages and persistent inflation under the Biden administration. As Americans continue to face financial challenges, the need for effective measures to address inflation and support economic stability becomes increasingly crucial.

To find out more, go to this link: https://www.kennedy.senate.gov/public/press-releases?ID=3421952C-8583-4D27-A1D7-AA92CF1B3DD1