FOX Business host Larry Kudlow reveals how Americans are struggling under President Joe Biden's economic policies on 'Kudlow.'
Overall real wages are down about 3%. The average family is spending over $700 a month more for everyday purchases than they were two years ago. With mortgage rates now running upwards of 7.5%, housing affordability is the worst since 1997, according to my friend Liz Peek and, according to House Speaker Kevin McCarthy, who will be here in a moment, the reality of back-to-school under Bidenomics is very expensive.
So, when my friend Jared Bernstein, chair of the Council of Economic Advisers, says that questions about inflation have gone "stale," he’s really missing the point. Affordability is differentthan inflation. The causality may be similar, namely excess spending and money creation. The reality though is that individual prices can be family killers.
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