(Daily Caller)—Prices across the economy have skyrocketed since President Joe Biden first took office, hurting Americans in certain sectors more than others due to inflation and regulations, according to experts who spoke to the Daily Caller News Foundation.
Since January 2021, when Biden first took office, the consumer price index (CPI), a measure of inflation, has risen 17.1%, ending in October, according to the Federal Reserve Bank of St. Louis (FRED). Cost increases due to inflation and regulations are hitting every area of the economy, with housing, health care, appliances and car loans experiencing particularly significant impacts, according to experts who spoke with the DCNF.
“I would say that the effect on mortgage rates has been the thing most affected,” Michael Faulkender, chief economist and senior advisor for the Center for American Prosperity, told the DCNF. “Because of 40-year-high inflation from excessive government spending, the Federal Reserve has aggressively raised interest rates. When Joe Biden took office, the average 30-year mortgage rate was 2.77%. Today, it is 7.22%.”
Overall inflation reached a recent peak of 9.1% in June 2022 and has since decelerated to 3.2% in October year-over-year, still far above the Federal Reserve’s 2% target. In response to the high inflation, the Fed raised its federal funds rate to a range of 5.25% and 5.50%, the highest rate in 22 years, placing upward pressure on credit conditions.
The costs to pay for housing expressed in the CPI for shelter, which more closely follows the cost of rent, have risen 17.5% since Biden took office, slightly higher than general price increases, according to FRED.
Many economists point to high government spending under the Biden administration as one of the key causes of elevated inflation. Biden signed the American Rescue Plan in March 2021 and approved the Inflation Reduction Act in August 2022, which added $1.9 trillion and $750 billion in new spending, respectively.
“To put that number in perspective, at 2.77%, a $250k mortgage would have a monthly principal and interest payment of approximately $1,023 per month,” Faulkender told the DCNF. “At 7.22%, that same $250k loan has a payment of $1700 per month. That is why pending home sales have hit their lowest level in two decades. If one looks at rental costs, they have been one of the largest contributors to the ongoing inflation people are facing and it is usually the largest component of a household’s budget.”
In August 2023, a family with a median income could only afford a 30-year mortgage on a $356,272 home following interest rate and price increases, while that same family could afford a mortgage on a $737,392 house in December 2020.
“When some goods are hurt worse than others, the causes are not inflation,” Ryan Young, senior economist at the Competitive Enterprise Institute, told the DCNF. “Higher-than-inflation housing and health care costs are due to regulations and supply chain problems — or at least the higher-than-inflation parts are.”
Health care costs are being ratcheted up due to rising premiums, which increased 7% just this year as of October, increasing 22% over the last five years. In an effort to bring down prices, the Biden administration announced in August that it would be forcing negotiations on ten major drugs.
The Biden administration has outpaced the previous three administrations in terms of issuing significant regulations, calculated by those that have at least a $100 million economic impact, completing 89 by the end of 2022. The total added costs due to regulations on the economy are estimated to be $1.939 trillion.
Biden has made combating climate change a key part of his policy objectives, instituting and proposing a slew of environmental regulations that, if all approved, would ultimately add $9,166 in new costs for average Americans per home. Many of the regulations are targeted at ordinary household items like appliances, particularly gas furnaces, water heaters, air conditioners and more, in an attempt to reduce carbon emissions.
“The Fed is now keeping the money supply stable, which is why inflation is now under 4% instead of above 9%,” Young told the DCNF. “Raising interest rates has been part of that. The trouble is that has also raised rates on mortgages, car loans, small business loans and eaten away at people’s retirement savings and college funds. The trouble with inflation is that it hits everything.”
The average monthly payment for a car loan has increased from $617 in the third quarter of 2021 to $726 per month two years later, according to Experian. The combination of price increases and rising rates has led to an estimated half of Americans being priced out of the car market completely.
As a result of rising prices, Americans are spending through their savings, only holding a collective $768.6 billion in October. Comparatively, Americans held over $1 trillion in savings in May and nearly $6 trillion in April 2020.
“Long story short, inflation hits everything equally,” Young told the DCNF. “It’s a universal regressive tax. It hurts low-income families more because they have less room in their budgets to spare. Low-income families are also less likely to have interest-earning investments to help offset inflation.”
The White House did not respond to a request to comment from the DCNF.
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Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.
Articles like this are sooo 1950s and ultra–silly: Manchurian Joe and the regime pulling his puppet strings are hellbent in ENDING AMERICA, destroying all sectors beginning with the energy sector and all else, along with ALL public safety and national security!
In the short run, bringing in millions of ILLEGALS will collapse wages, destroy the housing market, overwhelm social and medical services, etc. — — — in the long run, defund citizenship and annihilate national idemtity!
All this parsing CUHRAP is just that, intended to confuse and bewilder – have no use for this writer!
When someone is nuking us, taking time out to describe windage and velocity is INFINITELY SILLY!
“Experts”????
The director of the Center for American Prosperity is Jim Carter, who was with the George Weasel Bush Administration, that member of the pro–CCP Bush family who ENDORSED Manchurian Joe TransBiden for the presidency!
What was the first action taken by the Bush Administration AFTER the attacks on 9/11???
They disbursed funds to chambers of commerce across America to host seminars on the most efficient manner for local corporations to OFFSHORE AMERICAN JOBS, thereby further dismantling the economy!
Those are your experts!
Reminds me of Bill Gates’ unscheduled layoff of 1,000 employees and contractors in Redmond on 9/12/01, taking advantage of all the media attention focused on the horrific attacks and 3,000 plus deaths! First I read about those Redmond layoffs was over a year later in the Puget Sound Business Journal, although I did hear about it earlier from several of the laid off workers!