It’s not just grocery staples like eggs, milk, bread and coffee that are going through the roof — it’s also the hit from basic monthly payments like heat, electricity, car insurance and child care.
While housing costs and car payments continue to dog consumers amid stubbornly stiff interest rates, new figures from the US Energy Information Administration reveal that homeowners and renters alike are getting no relief from their associated monthly bills.
Those include electricity, which has climbed 25% since January 2020, the year before President Joe Biden took office and began touting his Bidenomics agenda.
California residents have experienced among the fastest-climbing electricity bills, which have popped a stunning 59% from the start of January through October 2023, per EIA.
Maine also experienced one of the steepest surges in electric costs, at 42%, while New Yorkers faced a roughly 38% pop in the same three-plus-year time period.
It’s part of the cold reality looming for most US voters who believe the odds of achieving the so-called “American Dream” are stacked against them.
For consumers faced with heating their homes this winter, the price of natural gas is also up 29% since January 2020, according to EIA figures that were earlier reported on by Bloomberg.
The figures contradict the latest Consumer Price Index, which reported that the energy index fell 2.5% on a monthly basis in October as gasoline tumbled 5% — figures Biden spun as good news for Bidenomics, which popped a historic $2 trillion hole in the federal budget last month.
Car insurance costs are following the same trend as Americans face monthly payments that are 33% higher than they were at the start of 2020.
The advance is faster than the previous three years, from 2016 to 2019 combined, when monthly car insurance payments ticked 21% higher, according to Bloomberg.
The cost of the car itself has also revved to a record-breaking $736 per month for a new vehicle, according to automotive company Edmunds.
In another grim all-time high, Edmunds found that 17.5% of Americans’ monthly car payment exceeds $1,000.
Healthcare plans also became more costly.
The average employer-sponsored health insurance premium for US families reached almost $24,000 this year, according to an annual KFF survey of more than 2,000 American companies — up a punishing 7% compared with a 1% increase a year earlier
Premiums for individual employer coverage rose at the same rate.
And as of 2022, the average annual cost of child care nationally was $10,853 — or roughly 10% of the average married couple’s median income — according to Bloomberg, citing data from Child Care Aware of America.
However, costs varied by region. States in the Northeast charge the most for child care, CCAoA found, running parents $30,514 for two children.
For reference, CCAoA’s annual survey found that housing costs in the area average $25,557 and the average child care professional earns an average of $28,520 per year.
In 41 states plus the District of Columbia, the average annual price of child care for two children exceeds average annual mortgage payments by anywhere from 1% to 53% — and rent payments by a staggering 100% — per the CCAoA.
This was the response of a Ukrainian soldier in a frontline combat regiment directly affected by Donald Trump’s decision to pause US military support to Ukraine.
Serhii, 45, maintains a unit of US-supplied Bradley infantry fighting vehicles that are defending an area of eastern Ukraine from attacking Russian forces.
The halt to American military aid – if sustained – means there will be no new ammunition and no ability to repair any of the vehicles when they are damaged – a constant risk.
On a recent mission by the 425th Storming Regiment “Skala”, three Bradleys went into battle towards the direction of the city of Pokrovsk, an area of heavy clashes.
Only two returned after the other was hit by the Russian side.
Image: Troops said it would be for Ukraine to defend their land without US military support
“It’s going to be very hard,” Serhii said, standing next to a large Bradley, covered by a camouflage net and tucked under a line of trees in the Donetsk region.
“These vehicles are really good. You can fight back with them. And not just defend, you can even advance. It’s a shame we didn’t have this equipment two or three years ago.”
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0:43
Trump pauses military aid to Ukraine – what now?
The regiment has been using Bradleys for a number of months. Serhii is the lead mechanic.
The tracked vehicles, armed with a chain gun that can fire 200 rounds per minute, were first developed in the 1980s but have been fitted with modern reactive armour that means they can survive drone strikes, rocket attacks and the shrapnel from artillery rounds.
“The vehicle’s protection… is fantastic,” Serhii said, with clear admiration for the equipment compared with Soviet-era fighting vehicles that many Ukrainian troops have to use.
Image: Soliders said the Bradley infantry vehicles are good for advancing, not just defence
He said the crew of one of his Bradleys was hit by two rocket-propelled grenades but was able to continue driving and was unharmed.
Serhii, who comes from the Donetsk region, said he felt betrayed by Mr Trump’s decision to halt such crucial support.
The US president ordered the move as he attempts to put pressure on Ukrainian President Volodymyr Zelenskyy to negotiate a ceasefire deal with Russia.
“Although I’m not a politician, it’s a betrayal for us, for the guys who are defending Ukraine,” the soldier said.
Image: Inside a US-supplied Bradley vehicle
Asked how he felt when he heard the news about the US president’s decision, Serhii said: “The latest news cuts my heart, I can answer you that way. It cuts my heart… If politicians solve issues this way, just by halting weapons supply in one move, that’s criminal.”
He signalled it would be harder for Ukrainian troops to defend their land without the US military support – but they would still fight.
“Even without this weapon, we believe we will move forward,” he said.
“They [the Russians] have to retreat, no matter what. The guys didn’t take up arms here for nothing, and they stand together. Together, all of us, as one, will defeat this enemy.”
As for whether he had a message for Mr Trump, the soldier said: “Don’t stop military aid. Politics is politics, but the people, I believe, are the most important.
“It will be very hard for us without such equipment. This equipment is good; it allows us to show results. And we will keep showing them. We’ve shown them before and we will keep showing them. That’s how it is. Thank you.”
Fighting ‘for my motherland’
Image: Soldier Sedoi said he is ‘tired’ of the war
Sky News watched as two crews prepared their fighting vehicles for a potential mission on Thursday evening.
Sedoi, 41, commands one of the Bradleys and operates the gun.
He said the American-supplied vehicle gives him confidence when he goes into battle – and was also likely a scary prospect for Russian troops to have to encounter.
“We make a lot of noise. Everything catches fire and burns… It’s a good vehicle,” he said.
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2:39
Will Kyiv fall without US support?
Sedoi said he did not have a reaction to the news about the halt to American military support, saying: “I don’t get involved in their politics.”
However, he signalled he did want an end to the war – even if it meant Russia keeping some of the land it has seized.
“Let it end, so people stop dying. Because a lot of people have died,” he said.
Recently recovered from a shrapnel wound, Sedoi said he volunteered to fight after Vladimir Putin launched his full-scale war more than three years ago because of Russia’s brutality.
“I’ve heard what they do when they enter villages, what they do with children and women… I don’t want them to go any further… That’s why I’m here.
“But, to be honest, I’m getting tired of it.”
Yet still he and his fellow soldiers battle on. Asked why he was fighting, the soldier said: “For my motherland.”