Fast Food Prices Skyrocket Under Biden’s Inflation

Written by James Harris.

The inflation crisis under President Joe Biden has hit Americans hard, making even fast food unaffordable. Recent reports highlight the dramatic increase in prices at popular fast food chains, illustrating the financial strain on everyday consumers.

In 2019, a Big Mac at McDonald’s cost $3.99, but now it sells for $8.29, according to the Daily Wire. Similarly, a BLT Footlong at Subway that used to be $5.50 now costs up to $8.49. Chipotle’s chicken burrito, once priced at $6.50, has soared to $10.70. These price hikes have outpaced inflation and the wages of most fast food workers, as noted by the Federal Reserve Bank of St. Louis.

A LendingTree survey found that 78% of consumers now see fast food as a “luxury” due to the steep prices. This shift reflects a broader economic issue where basic fast food items have become inaccessible for many lower- and middle-class families who once relied on them for affordable meals.

The Economic Impact on Families

Dan O’Donnell of the MacIver Institute highlighted the dire consequences of rising fast food prices for American families. In a May 23, 2024 article, O’Donnell noted that prices for basic items like McDonald’s cheeseburgers and Chick-fil-A nuggets have surged by as much as 200% in less than five years. He argued that this price increase is not due to “price gouging,” as the Biden administration claims, but rather the high costs of wages and food production.

O’Donnell pointed out that the fast food business model is based on offering quick, affordable meals. With prices rising so rapidly, many families are finding it difficult to justify the cost. Lower-income earners, who often rely on fast food for convenience and affordability, are particularly affected. When the cost of a family meal at a fast food restaurant jumps from $35-$40 to $65-$70, these families must either cut back on dining out or stretch their budgets further.

The Broader Economic Crisis

The increasing cost of fast food is a clear indicator of the broader inflation crisis affecting America. O’Donnell emphasized that when even fast food becomes unaffordable, it signals a deeper economic problem. Families who once saw fast food as a cheap and convenient option now face tough choices.

O’Donnell wrote, “When prices at these restaurants spike from $35-$40 for a family meal to $65-$70 in just a few years, those families either have to sacrifice a night out or extend themselves just a little further to afford it… When even fast food is slipping out of reach, it’s clear that America’s inflation problem is now a full-blown crisis.”

The economic policies under the current administration have led to rising costs across the board, making it harder for average Americans to make ends meet. The dramatic increase in fast food prices is just one symptom of this larger issue, highlighting the need for immediate action to address the inflation crisis.

Our Take

The soaring prices at fast food restaurants are a stark reminder of the economic challenges facing Americans under President Biden’s administration. From a politically conservative perspective, this situation underscores the failures of the current economic policies. Inflation has eroded the purchasing power of lower- and middle-income families, making even basic fast food a luxury.

The Biden administration’s narrative that price gouging is to blame for these increases is misleading. The reality is that rising wages and production costs are driving up prices, making it difficult for businesses to maintain affordable options. This situation harms those who depend on fast food for its convenience and affordability.

The significant increase in fast food prices reflects a broader economic crisis that requires urgent attention. Policymakers must address the root causes of inflation to restore stability and affordability for American families. The current trajectory is unsustainable and will continue to strain household budgets if not corrected.

Trending Stories:

Our Sponsors: