The U.S. economy is headed in the wrong direction. Gross government overreach is regulating private companies out of business. Inflation is hitting Americans from all angles. It is no surprise that economic confidence is dismal at best.
Grocery prices have increased by 25% over the past four years. The cost of gasoline jumped 49.6% in 2021 and has decreased less than 2% in any given year since. In Washington state, gas is up nearly 6% compared to a year ago and up more than 10% in just the past month.
The inflation crippling consumers isn’t just groceries and gas. Homeowner’s insurance premiums in 2023 were up 11.3% on average nationally. In 25 states, the annual increase was at least 10%. In Florida, which has been battered by hurricanes, the rates have increased more than 40% in five years. As a result, a growing number of people have been forced to sell their homes, and others are taking gigantic risks by going without insurance, as they cannot pay the higher bills.
The implications are significant for everyday Americans. As Steve Forbes explains, “The people who are hurt the most are those with the least.”