According to one analyst, the phenomenon of “Bidenflation” has led to one in six retirees contemplating unretirement, with concerns that this inflationary trend may persist.
The potential re-election of President Biden is seen as a confirmation of this prolonged inflationary environment.
In an article published in USA Today, Patrice Onawunka, expressing a far-left viewpoint, expresses dismay over the “financial insecurity” stemming from inflation, which is believed to have been caused by what is perceived as reckless federal spending.
This financial insecurity, Onawunka suggests, may become a permanent feature.
Many individuals have connected unfavorable economic outcomes and misguided government policies.
The injection of nearly $2 trillion into the economy through government transfers to households, coupled with disruptions in the supply chain and exacerbated labor shortages, has accelerated inflation.
Additional factors such as Putin’s invasion of Ukraine and other production disturbances have further contributed to this situation.
Criticism is directed towards the Biden administration and congressional Democrats for passing a climate change bill that was misleadingly labeled the “Inflation Reduction Act.”
According to detractors, this bill failed to address the escalating prices of essential needs such as food, housing, and energy.
Despite claims of climate-related savings, the benefits would take years to materialize, potentially outweighed by the costs of adopting new electric vehicles, which could amount to many thousands of dollars per household.
Furthermore, the expenses associated with green subsidies were over three times higher than what proponents of the legislation had initially stated.
Biden intentionally punishes law-abiding Americans who have dedicated their lives to following the rules, diligently paying their taxes, saving, and working hard.
Instead of prioritizing these individuals’ well-being, he favors the interests of millions of undocumented immigrants, who contribute to increased demand and drive-up costs across the board.
It is difficult to fathom a more extraordinary act of cruelty than passing a bill inappropriately named the “Inflation Reduction Act,” which achieves the exact opposite effect.
Among those who’ve been compelled to return to work after retiring, 55 percent cite financial necessity as the primary reason.