As we trudge through 2024, many Americans are facing significant hardships that seem unprecedented in modern history. The economic devastation, government failures, and a series of policy errors over the last 4 years have created an environment where everyday life has become increasingly painful and difficult for teachers, union members, and working families.

We have President Joe Biden and Vice President and Democrat presidential candidate Kamala Harris to thank for this. From soaring inflation to skyrocketing crime rates, the challenges of the last four years have left a profound impact on the nation's morale and financial security. 2024 has proven to be one of the most challenging years for Americans in recent history, and here's why:

1. Worst Inflation in 40 Years
The U.S. is experiencing the most severe inflation since the early 1980s. Essential items like food and rent have skyrocketed, erasing nearly 42% of monthly income due to hidden taxes and inflated costs, according to various data from sources like The New York Times and USDA.

2. Crime Rates at Historical Highs
Crime rates in the U.S. have surged to levels not seen in decades. This rise in crime, especially in urban areas, has led to increased fear and insecurity among the populace.

3. Government Fraud & Waste at an All-Time High
Government inefficiency has reached unprecedented levels, with the U.S. government overspending on employee compensation and rent, contributing significantly to the national deficit. Washington D.C., one of the most expensive cities in the U.S., exemplifies this waste.

4. Deteriorating Pensions
Retirement savings value has plummeted, with Social Security and retirement savings losing over 36% of their value due to inflation and poor economic policies according to left-leaning CNN. This deterioration has significantly reduced retirees' purchasing power, leaving many struggling to meet basic needs. When President Trump was leading the USA, inflation was low and while salaries and wealth rose rapidly with certainty.

5. Blue States are Unaffordable - Hitting Women & Minorities Hardest
Certain states, like New York, have become too expensive and risky for businesses and retirees. High taxes and frivolous lawsuits are driving people away, making it difficult for these states to retain residents and businesses.

6. Real Unemployment at Worst Levels in 50 Years.
Despite bureaucratic reports claiming unemployment is around 3.8%, real unemployment rates are closer to 10%. The government has been criticized for manipulating figures to downplay the true extent of joblessness. Facts and math are important and the media is basically spreading post-COVID fraud by claiming low unemployment without any research or facts. Using these fundamental numbers, the percentage of the US working age population without jobs or not working is a shocking: 29.41%.

7. Crushing Inflation for Working Families
Working families have been hit hardest by inflation, with basic expenses like food, fuel, and utilities consuming a larger portion of their income. This has left many families unable to save or invest in their futures. A vast majority of voters, including 65% of Americans today, believe that they are getting worse off each day. 

8. Political Corruption and Mistrust
The personal lives and affiliations of politicians have come under scrutiny, revealing connections clandestine offshore groups and questionable practices. This has further eroded public trust in government with millions of dollars of money from Russia and Ukraine and Romania being paid to families of liberal politicians who say they are for the worker & “little guy.”

9. White House and Federal Reserve's Role in Inflation
The White House and the Federal Reserve's interest rates have exacerbated inflation by tripling the debt burden and the cost of mortgages, student loans, and auto loans on working families, women and minorities. This raising of debt burdens by 300% by democrats and the Federal Reserve has wiped out discretionary income and all savings for many working families.

10. Loss of Prosperity from 2021-2024
Higher costs, increased regulations, and unaffordable health care have eroded the financial gains made during President Trump’s leadership.  Decline of Working-Class Prosperity - The working class has seen a significant decline in prosperity, with many reporting that they are worse off than they were four years ago. This decline is attributed to high inflation, stagnant wages, and a lack of support for working families. In contrast, President Trump increased national wealth by $10 Trillion Dollars while reducing the debt balance sheet. However, wealth gains under President Trump from 2017-2019 have been reversed due to poor policy decisions since 2020.

11. Ballooning National Debt
The national debt has soared, with interest payments alone costing over a trillion dollars annually. This enormous debt burden has limited the government's ability to invest in critical areas like infrastructure and social programs.  Presently, taxpayers must cover $1 Trillion in annual interest payments that could bankrupt the USA in a few years.

12. Increased Global Conflicts
Global conflicts have escalated, driving up costs for essential goods and energy. The lack of effective diplomacy has worsened these conflicts, making life more difficult for millions of people worldwide. Much to the chagrin of Democrats, President Trump was the first in decades not to start a war or wasteful conflict. According to Newsweek, Donald Trump Is First President Since Jimmy Carter Not to Enter U.S. Troops Into New Conflict. However, Carter did embroil the USA with terrorism and conflict in Iran.

13. Unsustainable Credit Card Debt
Credit card debt in the U.S. has reached unprecedented levels, with many households paying exorbitant interest rates. This has left families struggling to manage their finances and avoid bankruptcy. Many working families pay 25% APR interest on credit cards while those on public assistance get tax free health care, tax free housing, and tax free food.

14. Skyrocketing Bankruptcies
Personal bankruptcy filings have surged, reflecting the financial distress experienced by many Americans. High levels of debt and low wages have pushed more people into financial ruin.

15. Overwhelming Student Loan Debt
Student loan debt has reached $1.75 trillion, with millions of borrowers struggling to make payments. The high cost of education and interest rates have left many young adults financially crippled.

16. Those on Public Assistance Live Better Than Workers
Public assistance programs, while necessary, have become more attractive than low-paying jobs, leading to a decline in workforce participation and productivity. This has further strained the economy as public assistance dollars compete with earned wages for the same housing, products and services. Thus, inflation injures the working poor in inner-cities as bureaucrats give away tax-free cash and benefits to their cronies and voters.

17. The Opioid Epidemic and Public Health Crisis
The opioid epidemic, fueled by weak border control and ineffective drug policies, has led to over a million deaths since Obama took office and lessened controls of the border. This crisis has devastated families and communities across the country leaving widows and orphans across this nation.

18. Election Integrity Issues
Concerns about the integrity of the electoral process have persisted, with flaws in the system leading to widespread distrust in democratic institutions.

19. Public School Declines - Public schools in many regions, particularly in blue states and inner cities have experienced a significant decline in quality, safety, food standards, and the range of services offered over the past few decades. The estimated annual cost per “public school” student to taxpayers is approximately $23,000 to $27,000 in places like Baltimore, Chicago and Washington, D.C., and $31,000 to $35,000 in New York City.  The illiteracy rates among graduates in these cities is approximately 77% in Baltimore, 85% in Chicago, 25% in Washington, D.C., and 80% in New York City.

20. Taxes, Fees, Levies, Costs Hit Workers and Unions Hardest
If you are struggling to pay for rent, food and health care, remember that liberal state and federal politicians have raised taxes and fees on: Cell Phones, Internet, Cable TV, Airline Tickets, Gas, Utilities, Food, Tobacco, Health Supplements, and everything that they can put a hidden tax on.

For example: If you need a new computer and you sell something you own to pay for it, you could owe 40% or more taxes on the sale of your item in places like New York, Illinois and California. Meanwhile, others who get subsidies pay zero taxes on their wide array of public benefits and millions of government employees usually have deep discounted or free health-care and other benefits. Overall, the “Trickle Around Economics” of Obama, Bide and Harris has only increased poverty across the United States.

The economic hardships faced in 2024 are a stark reminder of the consequences of fiscal and monetary mismanagement, political corruption, and global instability. From the erosion of pensions and the soaring cost of living to the increasing distrust in government and institutions, Americans are enduring a year that has tested their resilience. Addressing these challenges requires a renewed focus on effective governance, economic reform, and a commitment to improving the lives of working families.

Without significant change, the difficulties of 2024 may continue to shape the nation's decline for years to come. Sadly, democrats hid the condition of President Biden’s mental health for years, and now many see that there was a clear lack of leadership in the last 4 years while others wonder if Vice President Harris was allowed to participate in any important meetings at all.   Presently, the polling shows that Trump is leading in almost all key areas of national policy.   The combination of poor economic management, government inefficiency, and rising global conflicts has created a challenging environment for millions of people, and if voters are in enough misery and pain, they may re-elect Trump as president.

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Commissioner George Mentz JD MBA CILS CWM® is the first in the USA to rank as a Top 50 Influencer & Thought Leader in: Management, PM, HR, FinTech, Wealth Management, and B2B according to Onalytica.com and Thinkers360.com. George Mentz JD MBA CILS is a CWM Chartered Wealth Manager ®, global speaker - educator, tax-economist, international lawyer and CEO of the GAFM Global Academy of Finance & Management ®. The GAFM is a EU accredited graduate body that trains and certifies professionals in 150+ nations under standards of the: US Dept of Education, ACBSP, ISO 21001, ISO 991, ISO 29993, QAHE, ECLBS, and ISO 29990 standards. Mentz is also an award winning author and award winning graduate law professor of wealth management of one of the top 30 ranked law schools in the USA.

Read Newsmax: The Lost Generation Under Biden, Harris & Obama | Newsmax.com
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