Inflation is the new tax on Georgia families

(The Daily Signal) – As the Peach State recovers from back-to-back hurricanes, Georgians are struggling to rebuild their families’ lives.

With the Federal Emergency Management Agency’s inadequate response being just another symptom of the misuse of taxpayer dollars, many are becoming cynical. Making things even harder is the ever-increasing cost of goods and services. The federal government prints a trillion dollars in debt every 100 days, fueling the inflation that has burned a hole in everyone’s pocketbook.

Thanks to Washington’s wasteful management of taxpayer funds, it is more difficult than ever for Americans to afford the basics, such as groceries. As The Heritage Foundation’s new Personal Inflation Calculator shows, the average cost of living has increased by nearly $1,500 per month for the typical Georgia household since January 2021.

This inflation isn’t a transitory blip; it is a direct outcome of government overspending and the printing of new money to cover it that devalues the dollar. The rising inflation that’s occurred under the Biden-Harris administration has resulted in a roughly 19% increase in the cost of groceries in Atlanta since January of 2021, when Joe Biden and Vice President Kamala Harris took office. The effects of inflation on eating out are just as bad: Consumers can expect to spend an average of 20% more per month on their restaurant budget than they did just four years ago.

How do these price increases affect the typical person’s month-to-month expenses? Today, the average Georgian spends roughly $625 on groceries and $420 on dining out monthly. That means they are spending nearly $100 more on groceries and $72 more on restaurants a month than they spent in January of 2021. That comes out to over $2,000 more per year on food and dining than the average Georgian spent in 2021.

To put the effects of inflation under the Biden-Harris administration into perspective, consider Coca-Cola, a Georgia original and local icon. According to The Associated Press, Coca-Cola raised prices in North America by 11% between January and June of this year. And it’s not just Coke—the U.S. Bureau of Labor Statistics reports that, on average, the price of a standard 12-pack of soft drinks has risen over 40% since January of 2021.

While the cost of groceries has risen drastically, wages have not—according to data from the U.S. Census Bureau, the average median income in Georgia has risen by less than 18% since January of 2021. With inflation driving greater expenses across the board—the costs of gas and housing have increased by roughly 44% and 28%, respectively—affording basic goods and services has become increasingly difficult for the average consumer.

The surging costs reflects a deeper problem: the tremendous government overspending that has occurred under this administration. The Federal Reserve has printed money to compensate for the virtually unchecked spending over the last four years, and, as a result, the value of the American dollar has significantly eroded.

Ultimately, it’s everyday consumers who bear the brunt of Washington’s fiscal irresponsibility. As the cost of essentials like food, gas, and rent continues to rise, Georgians have every right to question why their hard-earned dollars should fund reckless spending in D.C. It’s time for policymakers to recognize that inflation isn’t an abstract figure; it’s a tax on families, and they deserve leaders who prioritize stability over unchecked government growth.