Fox Business host Varney called the highest inflation in the U.S. the death of the American dream
High inflation is becoming the death of the “American dream,” causing U.S. residents to feel extreme pessimism, Fox Business anchor Stuart Varney pointed out on Fox Business.
According to the journalist, the U.S. is caught in an “inflationary spiral.”” I’ve never seen anything like this. I remember inflation in the late ’70s, but never like this. What amazes me is the rate at which prices are going up,” Varney said.
He said that because of inflation, Americans are now very pessimistic, they are “scared and unhappy. For example, according to The Wall Street Journal, 38 percent of respondents in the U.S. believe they are living worse, and this has happened, as the reporter noted, in just a year and a half of President Joe Biden’s administration.
“Inflation is eating away at the ‘American Dream’: half of respondents think there is little chance of improvement in their living conditions. To say that the mood is not good is an understatement,” Varney said. He said inflation is not going down, with the price of a gallon (3.785 liters) of gasoline rising 4 to 5 cents a day.
“By the end of this week, gasoline will be five dollars in half the states, rolling blackouts are coming, and who knows how much you’ll have to pay for a loaf of bread,” he concluded.
Earlier it was reported that U.S. President Joe Biden’s approval rating dropped to a record 36 percent amid rising inflation. Biden’s low approval rating is being driven by declining job growth, sharply rising energy costs, a downturn in the housing market and a labor shortage.
