Americans need an extra $11,400 a year to maintain the same standard of living from 2021, GOP analysis shows

by TheMessengerNews

6 comments

  1. American households must spend on average $11,434 more a year to keep their same standard of living from January 2021, according to a new GOP analysis of government data.

    The [U.S. Senate Joint Economic Committee’s state inflation tracker](https://www.jec.senate.gov/public/index.cfm/republicans/state-inflation-tracker), released earlier this week, highlights the lingering effect of high inflation over the past two years. Using data from the Bureau of Labor Statistics and the Bureau of Economic Analysis, the Republican staff examined how much prices for things like food, energy and transportation have increased in each state and the District of Columbia.

    The analysis uses January 2021 as a comparison point — when inflation was at a two-year low of 1.4%. Last month, inflation was 3.2%, down from a two-year peak of 9.1% in June 2022.

    According to the report, residents of Washington, D.C., and Colorado saw the highest increase in yearly expenditures at $17,109 and $14,995, respectively. Arkansas had the smallest increase at $8,528.

  2. > GOP analysis shows

    I don’t believe anything from the GOP. They’re shameless liars.

    > Republicans are using the new analysis to take a jab at President Joe Biden’s economic plan

    Terrible how inflation has been cut in half and more jobs created than republicans have created in 50 years. Republicans who have always increased federal spending more than Democrats.

  5. This is a stupid number designed for politics. So a person making 75000 has to make an extra 11,400? That’s 15% when inflation has been 6%. But a person making $400,000 has to also make an extra $11,400, which is only 2.8%.

    They want people to be scared and angry. Reality doesn’t advance that goal.

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