Newt Gingrich was a good man in the 90s when he was Speaker and beat Bill Clinton. Now he gets that Joe Biden is making America a poor house.

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Gingrich: President Joe Biden’s effort to “build back better” has degenerated into “build back poorer” for the American people and “build back broke” for the American government.

With gasoline prices setting new record highs every week, the American people are becoming poorer.

With the high cost of diesel fuel (up 70% over the last year) raising the cost of every product delivered to stores by truck, the American people are becoming poorer.

With the high cost of petroleum being translated into higher prices for fertilizer and other products necessary to modern farming, the price of food is skyrocketing and leaving the American people poorer.

When families this summer cannot afford to go on vacations, the hotels, restaurants, and recreation sites will lose customers and income, which will make them poorer.

As the Republican National Committee has reported, Biden is delivering the “Great American Pay Cut.” The RNC’s Tommy Pigott wrote: “The Great American Pay Cut continues, as wage growth of 5.2% over the last year came nowhere close to April’s consumer price hike of 8.3%.

“That means ‘real wages continue to decline’ as the economic fire alarm blares for American families. As noted by CNBC’s Rick Santelli, there are major “canaries in the coal mine” warning that things are going to get a lot worse. Among the bad news: It was the weakest jobs growth in 12 months and American families now have an average of $9,000 less in savings than last year.”

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And this is not merely partisan talking points. The Biden administration’s extensive failures are being detailed in the pages of The New York Times:

“Seventy percent of [infant] formula products nationwide were listed as out-of-stock for the week ending May 21, according to the retail software company Datasembly. That is an increase from 45 percent for the week that ended May 8, and 31 percent earlier, in April.

“According to Datasembly, almost 75 percent of the baby formula supply is out of stock in Atlanta; 80 percent in Des Moines; and 90 percent in Houston. Consumers are having better luck in Indianapolis, where only 48 percent of formula is listed as out-of-stock, and Chicago, where the figure is only 57 percent.

“A spokeswoman for Datasembly said that its analysis shows that ‘out-of-stock percentage for baby formula continues to worsen.’”

The scarcity of baby formula is making life more difficult, and its sky-rocketing prices are leaving parents poorer. Adding insult to injury, searching for stores that have baby formula is forcing parents to buy more gasoline just to get a necessity of life for their infant children.

The Democrats’ determination to undermine police and release criminals without bail has led to increased robberies and carjackings. This has made life poorer and more dangerous for law-abiding Americans…

So, the Biden administration’s support for Big Government Socialism means it will build back making Americans poorer – and running up so much debt it will leave the government broke. Poorer Americans in a broke country: This is the burden Democrats will carry into the fall election.