US residents are sinking into pessimism amid rising prices as the idea of the “American Dream” is fading away. This opinion was expressed on Fox Business broadcaster Stuart Varney.
According to him, due to inflation, Americans are now “fearful and dissatisfied.” The journalist cites the data of The Wall Street Journal as an example, according to which 38% of respondents in the United States believe that they have begun to live worse.
“Inflation is eating away at the American dream: half of those surveyed believe that they have little chance of improving their living conditions. To say that the mood is not the most blissful is still an understatement, ”Varney said.
According to the journalist, the United States has fallen into an “inflationary spiral.” According to him, the increase in inflation is not decreasing, the price of a gallon (3.785 liters) of gasoline is growing by 4-5 cents daily.
“I have never seen such a thing. I remember the inflation of the late 1970s, but it never happened. What amazes me is the rate at which prices are rising,” Varney said.
This happened, as the journalist noted, only in a year and a half of the reign of President Joe Biden.
Earlier, on May 30, the US President proposed a three-part plan to combat inflation, in which he called Russia’s special operation to protect Donbass and sanctions one of the main reasons for the economic situation in the country. Biden’s article was published on the pages of The Wall Street Journal.
Later, on June 6, The Wall Street Journal published the results of a poll, according to which the vast majority of US citizens (at least 83%) believe that their country’s economy is in poor or deplorable condition. At the same time, 35% of them stated that they were dissatisfied with their financial situation.
At the same time, on May 16, a member of the House of Representatives, Rick Allen, during a speech in Congress, indicated that the increase in fuel prices in the United States is connected with the policies of President Joe Biden and his administration, and not with the actions of the Russian authorities, as he claims.
On May 14, U.S. Oil and Gas Association President Tim Stewart said the collapse in the U.S. energy sector has become one of the toughest tests for the U.S. economy in recent years.
On May 10, Biden, speaking to reporters, said that inflation is the strength of the United States, which arose thanks to the White House. However, later in the same speech, the president emphasized that inflation is bad, but the coronavirus pandemic and the actions of Russian President Vladimir Putin in Ukraine are to blame for it.
On March 11, the day the price of a gallon of gasoline in the United States reached an all-time high of $4.33, former President Donald Trump said the country was in for a shock due to the policies of the current administration.