Job Creators Network president Alfredo Ortiz notes that this week marks the two-year anniversary of declining real wages for ordinary American workers due to ongoing high inflation. The latest consumer price index, released this week, shows prices grew 20% faster than wages over the last 12 months.
Ortiz says that the two-year decline in living standards for ordinary Americans proves once and for all that Democrats are America’s anti-worker party. Their easy fiscal and monetary policy, known as Modern Monetary Theory, has been wholly discredited by this prolonged erosion of the dollar’s value and workers’ quality of life.
Under the Biden administration’s plans, he notes, the total deficit would increase by $17 trillion over 10 years – more than the entire national debt held by the public before Covid-19.