Photo by Colin Lloyd on Unsplash

With Christmas quickly approaching, Americans must prepare for a significant surge in holiday costs. Under President Biden’s administration, Americans will pay more for travel, presents, trees, and Christmas dinner than in any previous year. As a result, families are tightening their budgets – Americans are expected to purchase just nine gifts this year, down from 16 last year. 

Bankrate recently conducted an analysis of the top 40 items common to the season and concluded that 88 percent of holiday staples have gotten more expensive over the past year.  

The cost of traveling has seen the largest surge: 

  • Gasoline has increased by 17.5 percent. 
  • Airline fares have increased by 42.9 percent. 
  • Hotels and motels have increased by 6.4 percent. 
  • Transportation services have increased by 15.2 percent. 

As a result, low-income travelers will cut back from traveling this year. According to Deloitte, only 31 percent of Americans said they intended to travel this year, down from 42 percent of Americans last year. Unfortunately, this means tens of millions of Americans will sacrifice precious family time because of Washington’s irresponsible spending habits.  

Gift-giving has also become more expensive, as detailed by Bankrate:  

  • Gift wrap and stationery have increased by 13.1 percent. 
  • Gift delivery services have increased by 13.9 percent. 
  • Tools, hardware, and supplies have increased by 10.1 percent. 
  • Apparel has increased by 4.1 percent. 
  • Footwear has increased by 2.7 percent. 
  • Jewelry has increased by 2 percent. 
  • Watches have increased by 2.6 percent. 
  • Toys, games, hobbies, and playground equipment have increased by 6.7 percent. 
  • Cosmetics have increased by 4.8 percent. 
  • Footwear has increased by 2.7 percent. 
  • Jewelry has increased by 2 percent. 
  • Watches have increased by 2.6 percent. 

Consumers, as a result, are expected to cut back on the number of gifts they buy. Americans are now expected to purchase an average of nine gifts, down from 16 last year. Consumers are also expected to change what kinds of gifts they buy. Many will opt for gift cards, as popular, common gifts will be too expensive. 

Deloitte’s Holiday Retail Survey also details that consumers will be cutting back on non-gift purchases – like décor – by about $53. Further, last week, Tim O’Connor, executive director of the National Christmas Tree Association, estimated that the cost of natural Christmas trees have risen by about 10 percent. Last year, a typical cut evergreen would have sold at $70. Today, the same tree would cost about $80.  

Of course, Christmas dinner will also be more expensive than ever. Bankrate listed the price increases of the most popular holiday food items: 

  • Flour and prepared flour mixes have increased by 24.6 percent. 
  • Bakery products have increased by 15.5 percent. 
  • Eggs have increased by 43 percent. 
  • Meats have increased by 2.9 percent. 
  • Turkey has increased by 16.9 percent. 
  • Fish and seafood have increased by 7.4 percent. 
  • Poultry has increased by 14.9 percent. 
  • Dairy and related products have increased by 15.5 percent. 
  • Fruits and vegetables have increased by 9.3 percent. 
  • Sugar and sweets have increased by 14.9 percent. 
  • Alcoholic beverages at home have increased by 3.8 percent. 

Due to high inflation, Americans across the country are being forced to compromise on family traditions and quality time with each other.  

Of course, what is most frustrating is that these outcomes were avoidable. The Biden Administration’s policies are largely to blame for inflation. President Biden has passed bills and executive orders that pay Americans not to work, expand tax credits, pause federal student loan repayments, canceled the Keystone Pipeline, and more.   

Further, just a few months ago, during this time of high inflation and a recession, Democrats passed a massive tax-and-spend plan. Democrats’ reconciliation bill contained substantial tax hikes including a 15 percent corporate alternative minimum tax, a $6.5 billion natural gas tax, a $12 billion crude oil tax, a $1.2 billion coal tax, and several more.   

These tax hikes have been and will continue to be passed on to consumers through higher prices. According to a 2020 National Bureau of Economic Research paper, 31 percent of the corporate tax rate is borne by consumers through higher prices of goods and services.   

Reckless spending on climate initiatives, Obamacare subsidies, and supersizing the IRS –as contained in the bill –also exacerbate inflation.  

At the expense of Americans’ quality of life and financial security, Democrats have repeatedly pushed harmful tax hikes and wasteful spending. As a result, the American people will be gifted coal this Christmas.