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Sen. Ron Johnson (R-Wis.) illustrated in a statement on Sept. 20 how soaring inflation has eroded Americans’ purchasing power, pointing out in stark terms that $1 at the start of the Biden administration is now effectively worth just 88.3 cents.
Johnson, who’s been a repeated vocal critic of President Joe Biden’s handling of the economy and Democrats’ big spending bills, took to Twitter on Sept. 20 to criticize the impact of red-hot inflation on American households.
“Let this sink in: $1.00 at the start of the Biden administration is now worth $0.88. This is the Democrats’ tax on the middle class, and it’s crushing all Americans,” Johnson wrote.
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