by Amy Furr
Breitbart.com
Stubbornly high inflation is making it more difficult to raise a child in President Joe Biden’s (D) America, per LendingTree.
LendingTree Chief Credit Analyst Matt Schulz told Fox Business that prices for everything have continued to rise, adding, “There’s so much that goes into child care, including rent, payroll, insurance and much more. When all those costs shoot up, the overall cost of child care does, too,” the outlet reported Monday.
The article continued:
The cost of child care surged nearly 20% between 2016 and 2021, the latest year for which complete data is available, according to LendingTree. Annual expenses, excluding tax exemptions or credits, hit $21,681 in 2021, versus $18,167 in 2016, the data shows. That means the typical family is spending about $237,482 over the course of 18 years to raise a child — and that is excluding the cost of college.
The news comes as “expectations for inflation over the next five years have surged back to their highest levels of this economic cycle,” according to a Breitbart News article published on Monday.