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Here's the problem with that illusion that you and too many Americans have failed to recognize....
Your "raise" has likely been eradicated by Brandon's inflation. Ironically, wages are only up in most job sectors precisely because of the wasteful and unnecessary government spending that began with Covid relief money and continued through Biden's "American Rescue Plan"... Employers have been forced to pay employees higher wages just to find people to work. This was, and still is, especially true in the food, beverage, and hospitality industries. The other largest job growth sector has been government jobs which although great for the employee, adds to the overall cost of government in the long run... This is not a trend of a healthy economy. It's a reactionary trend to a self-inflicted wound. Had all of this printed money not been poured into the economy, we would have seen healthy, job and wage growth with low, measured inflation that we enjoyed pre-Covid...
Furthermore, while is true that for many Americans wage growth has slightly outpaced inflation, this statistic alone does not reflect the true damage created by this staggering inflation on the most essential consumer products like fuel, groceries, rent, utilities, insurance, taxes, and other essentials that have increased on average of 25%+ over the last 3.5 years... In other words, for the Average middle-class working family who spends 60% of their month income on these essentials, inflation has been devastating despite wage growth... They are spending considerably more than they are making trying to maintain their standards of living. Unfortunately, too many Americans are doing so by accruing staggering credit card debt which will create even more economic hardships when those chickens come home to roost...
And, if inflation alone isn't causing enough damage, wait and see what will happen if all of Brandon's new taxes were to kick in... Watch what that does to wages of employees of large corporations, that is if their jobs don't get outsourced altogether... Ironically, all of the recent references about capitalism seemed to have ignored the fact that two of the biggest enemies of capitalism are government spending, and regulation, both which have grown at staggering levels under Brandon's Administration.
You guys are correct but in addition one has to remember that everything is connected and every decision and action has a reaction and ultimately results in changes.You've summed up the economic quagmire we're in pretty well. Monopoly money thrown into the system increased the inflation rate 2- 3 points (maybe more) from where it would have stopped rising. The Fed had/has to dramatically raise interest rates to tame the runaway inflation. Then the prices of EVERYTHING went up and continues to do so, including wages to partially offset SOME of the inflation. It's a vicious cycle that was preventable from the start if Brandon and his free wheeling and spending Democrat controlled Congress had any fiscal responsibility whatsoever. Ultimately it WILL lead to a recession and the only question is how bad will it be this time around?
Trump is responsible for a bit of inflation and especially tight supplies of some things because of his Tarriffs. Then just as things were adjusting to that, we were hit by Covid-19 and the shutdowns, people staying home and eating in instead of out changed demand for "packaging" of food and where they bought it. I remember milk being dumped while supermarkets had empty shelves. Well bottlers had to switch from the 5 gallon bags of milk used in restaurants to gallon jugs. The infrastructure had to change and supply of jugs increased. Same for other food items. Not to mention widespread shutting down of factories and logistics.
Then along comes Brandon and good to his word. Starts his private war on fossil fuels. No matter how you cut it, war takes money! Well the ensuing high oil prices gave Putin his war chest... Add in a wimpy US President and Government response gave him an invite. Likewise the action of releasing Billions to Iran had consequences.
The war in Ukraine upset the World grain and fertilizer supplies. Fertilizer in the US tripled in price. Add on higher diesel prices and food prices had to go higher. Consequences!
