The Middle Class Can’t Keep Up With Persistent Inflation Forever
It seems unlikely that one issue — indeed, one chart — could define the politics of the last several years and even the last decade. Yet the pattern seems clear.
A recent Wall Street Journal article explained how the middle class feels increasingly squeezed by post-pandemic price hikes. Quotes from families seeking the light at the end of the tunnel show how American households feel stuck in an ever-growing vise by prices rising faster than their incomes can keep up.
A fascinating graphic in the article, taken from University of Michigan consumer survey data polling the middle class, shows how families’ perception of their personal financial situation has deteriorated:
Photo credit: Wall Street Journal
The trendlines in the graphic show the strength of the economy in President Trump’s first term, when majorities said they felt better off personally, and only about 15-20 percent of households felt worse off in the years before the pandemic. They explain why Trump won his victory over Kamala Harris last fall; roughly two times as many people felt worse off than better off after four years of “Bidenflation.” And they also provide a clear reason for Republicans’ electoral losses this November, because the middle class’s mood has changed little since the 2024 election.
So how can conservatives respond? Trying to claim inflation doesn’t exist won’t cut it because people see price increases with their own eyes. I see it every week when I go to the grocery store: A pack of raisins previously priced at $2.99 now goes for $3.29 (a 10 percent bump); the toilet paper that was $5.99 now retails for $7.29 (a 22 percent jump); the package of bratwursts that used to cost $3.50 now goes for $5.00 (a 43 percent increase). I consider myself luckier than most, having paid off my mortgage years ago, but the weekly shop still feels painful. (Read more from “The Middle Class Can’t Keep Up With Persistent Inflation Forever” HERE)
Photo credit: Gage Skidmore via Flickr
