Economy

'IMMENSE FINANCIAL PRESSURE': Americans Feeling Financial Strain of Skyrocketing Food and Gas Prices

posted by Hannity Staff - 7.01.22

Earlier this week, New Jersey-based financial institution Provident Bank published the results of a recent survey of 600 adults. The findings? Many Americans are under “immense financial pressure” thanks to Biden’s failed policies.

According to The Daily Mail, the bank found more than 70 percent of respondents said they were changing travel habits – likely due to the 48.7 percent increase in the cost of gasoline, year on year, and a 37.8 percent rise in the price of airfares.

From The Daily Mail…

Almost a third of drivers – 32 percent – now spending an extra $101 – $250 per month on gasoline, with 13.5 percent reporting a monthly increase in fuel costs between $251 – $500.

Some said they were trading in their cars, switching from gas to electric vehicles. Others said they were cycling, rather than using their cars.

And others said they were postponing their vacations, and visiting family less often.

The report found that 10 percent of those surveyed said they had eliminated entirely non-essential purchases.

Americans said they were cutting back on trips to the salon, cigarettes and takeout coffee.

More than half of all those surveyed, or 53.33 percent, said they now spend between $101 and $500 more per month on groceries.

While delivering remarks in Madrid, Spain this week, President Biden was asked how long Americans are expected to put up with skyrocketing food costs and painful prices at the pump.

“As long as it takes,” said Biden.

“The war has pushed prices up,” one reporter asked Biden. “They could go as high as $200 a barrel, some analysts think. How long is it fair to expect American drivers and drivers around the world to pay that premium for this war?”

“As long as it takes,” Biden responded, “so Russia cannot in fact defeat Ukraine and move beyond Ukraine. This is a critical, critical position for the world. Here we are. Why do we have NATO? I told Putin that in fact, if he were to move, we would move to strengthen NATO. We would move to strengthen NATO across the board.”

The current average cost for a gallon of gas nationwide is $4.84.

Watch the exchange below:

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