American wages are not keeping up with inflation, Sanders says Democrats must admit
In a statement on Monday, Senator Bernie Sanders pointed out that President Joe Biden's economic record has been declining for a decade, and that the passage of the inflation reduction act will not be sufficient to support Democrats in midterm elections.
“What we don’t talk about in Congress, and we don’t talk about in the media, is what’s going on with working families in this country. And the truth is that the middle class of this country is falling further and further behind,” Sanders said.
As inflation rises, wages do not keep up with it. Approximately 70 million Americans lack health insurance or are underinsured. There are 600,000 homeless people in your country. Prescription drugs are not affordable for many people. Thousands of kids cannot afford to attend college. In addition to climate change, students leave school deeply in debt," Sanders said.
The U.S. economy has been squeezed by inflation at 8.3 percent, meaning wages have lost some of their purchasing power.
According to the Bureau of Labor Statistics (BLS), real average hourly earnings of U.S. workers have fallen by 2.8 percent seasonally adjusted over the past 12 months.
28 September 2022