With the soaring price of food, nearly half of Americans now say they are struggling to pay their grocery bills. And one advocacy group says that the end of Biden’s child tax credits is making matters worse.
Costs are soaring at the grocery store. Egg prices have jumped 161 percent according to the Producer Price Index. Milk has hit an all-time high, Wisconsin Public Radio recently noted. Bread has also soared more than ten cents since February, Baking Business reported. The cost of meat keeps rising, Fox 25 reported. And that is not to even mention the constantly soaring cost of diesel and gasoline needed to get those products to the market.
Most every other food item is also soaring in price and these constant hikes week over week are hurting Americans nationwide.
According to a new survey of 500 parents from the nonprofit Parents Together Action, 9 out of 10 parents said that soaring prices are making it tough for them to make ends meet, the group reported on its website.
The group said that rising prices are putting serious stress on finances for families who were recipients of the child tax credit, which has now come to an end.
The group added that, “68% of respondents said rising costs have prevented them from saving for the future and 64% said they needed to spend their emergency savings.”
Also, “41% said they’ve had to get a new job or work more hours to try and make ends meet,” the group added. And “48% said they could no longer afford enough food for their family.”
The group says that some parents are skipping meals or cutting back on other household necessities because of the budget crunch, CNBC reported.
“I know I need to take care of myself to be able to take care of my kids,” mother Stormy Johnson said, according to CNBC. “But at any given time if you give me the option to do for my kids or do for myself, especially when it comes to something like food, I’m not going to let my kids go without.”
This is not the first time we have seen reports of Americans struggling to feed their families. Last month, Western Journal noted that global food shortages have grown to the point that it is threatening American families.
But Joe Biden is putting stress on these families in another way.
Many of these parents came to rely on Joe Biden’s child tax credit payments that were being doled out in installments. And now that the program has come to an end, the money they became used to has dried up.
The program handed not money to parents based on the age and number of children in the home as well as the parents’ income level. And the organization noted that the survey found that “the end of last year’s monthly Child Tax Credit payments has pushed families to the brink.”
It certainly appears that Biden’s tax credit plan was a Band-Aid on a wound that Biden’s economy is gouging deeper. It is also clearly disastrous for these families to have become so reliant on government handouts in the first place.
The lesson, though is pretty stark.
Biden rolls into office with big handouts lulling people into relying on his largess. Then his disastrous economic policies cause prices to spike far higher than the freebies he is handing out. Then, the when the freebies dry up, those who came to rely on it begin experiencing major pain.
It all seems like a perfect example of the detrimental effect these sort of government policies has on Americans.Tags: Commentary Economy Food Joe Biden