“The average wage of the average American has gone down after inflation. . . . workers have actually lost ground. Workers today—in Nov. of 2023—are actually making less per hour after inflation than they were in Feb. 2021.”
WASHINGTON – Sen. John Kennedy (R-La.) today detailed how real wages have fallen for Americans because of the persistent inflation under Pres. Joe Biden. Kennedy noted that weekly wages, when adjusted for inflation, have decreased 3.9% since President Biden’s first full month in office.
Key comments from Kennedy’s remarks include:
“Pres. Biden’s inflation—which is man-made, and that man’s name is Joe Biden—is costing my people, the average Louisiana family, $806—not a year—a month! Eight-hundred-and-six dollars a month. That's $9,700 a year. Now imagine, if you were making $55,000 a year and you've got to come out-of-pocket with an extra $9,700 a year.”
. . .
“What [Americans] care about is prices going down, and that’s de-inflation, and we do not have de-inflation. The point I'm trying to make is: We're stuck with these high prices. If they get inflation down to zero, those prices are not going down.”
. . .
“Since Pres. Biden has been in office, consumer goods in the United States of America are up 17%.”
. . .
“The average wage of the average American has gone down after inflation. . . . The appropriate way to look at wage increases is not to look at the raw or the aggregate increase—[it’s] looking at the increase after inflation.
“And if you take all the average wage increases in the United States of America, and you look at the average inflation in the United States of America, workers have actually lost ground. Workers today—in Nov. of 2023—are actually making less per hour, after inflation, than they were in Feb. 2021.”
Kennedy’s full remarks are available here.
