dollar
Inflation Crisis in Arizona at Historic Worst, Phoenix Most Impacted

June 11, 2022

By Corinne Murdock |

President Joe Biden’s skyrocketing, 40-year-high inflation levels have resonated with a historic worst for Arizona. Arizona households are spending an average of nearly $6,000 more on household necessities since the 2020 election. 

According to the most recent report from the Common Sense Institute, a Phoenix-based research nonprofit, Phoenix inflation prices rose over eight percent in one year. The metropolitan area reached 11 percent price inflation, nearly three points higher than the nation’s average. 

The institute noted that the current rate of increasing inflation would cause the cost of living in Phoenix to be higher than San Francisco’s cost of living by 2034. 

Additionally, the cost of rent and housing grew by nearly 15 percent over the last year. The pandemic marked a record-high for the number of those moving to Arizona. 

Yet, Biden declared that the last year marked positive changes lending to a “historically strong” economic foundation that would result in a decline in inflation. 

Governor Doug Ducey blasted Biden’s handling of inflation as a “disaster,” noting that Arizona families were paying an average of over $500 a month more in household costs. 

In a Wall Street Journal opinion piece succeeding Memorial Day, Biden blamed inflation on Russia President Vladimir Putin. Biden said that Putin’s warring impacted the energy market and supply chain. The president alluded to heavier intervention in the Russia-Ukraine war, with more aggression toward Russia, to uplift the flagging economy.

“We can’t let up on our global effort to punish Mr. Putin for what he’s done, and we must mitigate these effects for American consumers,” said Biden.

The president explained that the federal government would build a million more affordable housing units, and proposed using Medicare to negotiate with pharmaceutical companies. He also proposed recouping lost tax revenue from companies established overseas who benefit from international tax policies, and claimed that billionaires pay lower tax rates than working-class individuals like teachers or firefighters. 

Biden also claimed that the job market was the strongest since World War II, though he didn’t distinguish between new jobs and those restored after the pandemic layoffs. 

The president relied on the “kitchen table” illustration again to empathize with Americans’ struggles. (For context: there are over 40 speeches from Biden on the White House’s website in which he’s used the “kitchen table” illustration; it is unclear whether his speech writer has a penchant for kitchen tables or whether the term is meant to serve as a touchstone concept, but former first lady Hillary Clinton is credited for popularizing the term within the Democratic Party in the 1990s). 

Secretary of State and gubernatorial candidate Katie Hobbs has picked up on the “kitchen table” illustration, though she hasn’t denounced the Biden administration’s handling of inflation.

Instead, Hobbs blamed Ducey and the Republican-controlled state legislature for not doing more to curb inflation. She insisted that her plan — Affordable Arizona — would mitigate inflation. 

Biden has denounced one specific plan from across the aisle by Senator Rick Scott (R-FL): a “12 Point Plan to Rescue America.”

Earlier this month, the president reiterated that the plan to bring down inflation consisted of taking a hands-off approach with the Federal Reserve. He then listed two end goals — lowering the cost of living and reducing the deficit — as part of the plan, without elaborating further. 

Corinne Murdock is a reporter for AZ Free News. Follow her latest on Twitter, or email tips to corinne@azfreenews.com.

Get FREE News Delivered to Your Inbox!

Corporate media seeks stories that serve its own interests. But you deserve to know what’s really going on in your community. Stay up to date on the latest in Arizona by signing up to get FREE news delivered to your inbox.

You May Also Like …

Connect with us!

ABOUT  |  NEWS  |  OPINION  |  ECONOMY  |  EDUCATION  |  CONTACT  |  CODE OF ETHICS  |  PRIVACY POLICY

A project of the Arizona Freedom Foundation  |  All Rights Reserved 2022

Share This