It is not even Columbus Day yet, but record-high inflation already has American consumers reconsidering their holiday shopping habits. According to a new survey from DealAid, 56.4% of Americans say that inflation is their number one concern this year about the fast-approaching holiday shopping season.
“Availability of funds is the number two concern with 46.4% of consumers being worried about not having enough disposable income to do their holiday shopping,” DealAid noted.
According to the group, in 2022, 48.2% more Americans than in 2021 are concerned about not having enough funds to purchase their gifts for Christmas and other holidays.
The survey is similar to another poll from Bankrate which found that 40% of Americans are planning to change how much they spend on holiday items this year.
Of course, it does not take a poll for most Americans to know that the economy is taking a toll on how much people can afford to buy. They experience it every day.
The Daily Wire has reported that the overall cost of goods between August 2021 and August 2022 rose 8.3%, according to data from the Bureau of Labor Statistics. Food prices increased 11.4% over the same period.
According to a report from Bank of America, roughly 71% of Americans “feel the cost of living is outpacing growth in their salary or wages.”
Anecdotally, it is now fairly common to see parents put food items back in the checkout line at the grocery store, shocked at the cost.
According to White House Press Secretary Karine Jean-Pierre, however, Biden understands that inflation is a problem and is working to bring it down “without sacrificing all of the historic gains that we made this past year and life-changing economic gains this country has made over the last 19 months.”
It is unclear what historic gains she is referring to, as new data from Heritage Foundation revealed that the average American has lost $4,200 in income since Biden became president due to inflation and interest rate hikes.
In light of that reality, it appears that the White House is instead working to push out lies about the economy. Their goal is to convince voters that things aren’t as bad as they seem.
On Monday, Politico ran a story titled, “Biden’s economic success story could fall flat among people still struggling.”
“Joe Biden is ready to hype his economic success story,” the tagline read. “But inflation and other market factors could spoil the tale.”
Or put another way, “Propaganda might not work on people suffering.”
"Propaganda might not work on people suffering" pic.twitter.com/CT6xvN0MCk
— Tim Meads (@TimMeadsUSA) September 27, 2022
Whichever way you want to characterize the White House messaging strategy, it would appear Biden’s an ardent believer in the old mantra, “Never let the facts get in the way of a good story.”
Unfortunately for Biden, no matter how he tries to spin the economy, he can’t tell voters their quality of life is better than it is as their hard-earned dollar stretches less and less. This is especially true as Americans head out to shop for Christmas and Hanukkah gifts, only to realize they can’t afford all that they want to buy their loved ones.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.