thanksgiving Archives - Dr. Rich Swier

President Joe Biden will spend his Thanksgiving holiday at a private billionaire’s compound as inflated costs continue to surge for lower and middle class Americans.

The president landed in Nantucket, Massachusetts, on Tuesday where he is expected to celebrate Thanksgiving with Carlyle Group co-founder David Rubenstein, according to Fox News. The Biden family has spent the holiday on the island for several decades, but canceled their plans in 2020 due to the COVID-19 pandemic.

Meanwhile, the price of the average Thanksgiving dinner has risen more than 14% from the previous year, according to the American Farm Bureau Federation’s annual Thanksgiving dinner cost survey. The report further shows that the average Thanksgiving dinner for six people will cost an approximate $53.31, with the cost of turkey alone skyrocketing by 24% in comparison to the previous year.

A recent Trafalgar poll revealed that 52% of Americans say inflation forced them to change their holiday plans in accordance to the rise in food prices and shortages.

House Minority Leader Kevin McCarthy criticized the president’s Nantucket holiday Wednesday by pointing to the average American’s struggle with inflation during the Thanksgiving holiday.

“Dear President Biden, while you are in Nantucket, enjoying your meals at a billionaire’s compound, here are the prices that Americans are paying for their Thanksgiving dinner-the most expensive one in history,” he wrote.

Dear President Biden,

While you are in Nantucket, enjoying your meals at a billionaire's compound, here are the prices that Americans are paying for their Thanksgiving dinner—the most expensive one in history. pic.twitter.com/M2Lr7g9Qyl

— Kevin McCarthy (@GOPLeader) November 24, 2021

The country has witnessed its highest inflation levels in the past three decades, with the Consumer Price Index reaching 6.2% on a year-over-year measure. Food companies’ quarterly profits have fallen significantly as a result of inflation, labor shortages and supply chain issues, forcing them to increase the price of their meat, grain and steel can products.

The U.S. has suffered a shortage of oil production that caused gas prices to stand at an average of $3.40 per gallon, hitting its highest Thanksgiving week level since 2012, according to new data from the Energy Information Administration (EIA).

To resolve the current rise of inflated gas prices, Biden ordered the Department of Energy Tuesday to release 50 millions barrels of oil from the U.S. Strategic Petroleum Reserve, which will reportedly provide 2-3 days worth of U.S. oil supply.

White House press secretary Jen Psaki told White House Fox News correspondent Peter Doocy that a “20 pound turkey” is not significantly pricier than in the past during Tuesday press conference.

“There are an abundance of turkeys available, they’re about $1 more for a 20 lb. bird, which is a huge bird if you’re feeding a very big family,” Paski said. “And that’s something that again, we’ve been working to make sure people have more money in their pockets to address it as the economy is turning back on.”

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