Another day in Biden’s America means more bad news, and this week is looking particularly grim. The United States Consumer Price Index, which measures the rate of inflation for all consumers in America rose by a whopping 0.6%, which is much more than the predicted 0.4% increase that economists figured would happen. But that’s not the worst of it, inflation has already spiked 7.5% for the year-over-year measurement, which is the largest jump that America has seen since 1982, which is the year that E.T. made its way into theaters. We’d like to phone home, too, buddy.
This is just another huge hit to American consumers as the decades-high inflation mark continues to burn hotter than it has in more than a generation as a result of Biden’s bad policies and failure to respond to inflation concerns.
The Labor Department says that the biggest increases were seen in the food, shelter, and electricity indexes. To break it down more specifically, the increases for year-over-year for energy was 27%, gasoline was 40%, and used trucks and cars is 40.5%
The January number for inflation is just another example of how Biden and his administration are failing on every front. Biden claimed last year that inflation would only be a temporary situation, but Americans everywhere have been feeling these changes for far too long.
Biden also claimed that people that make under $400k would absolutely not have any taxes raised. But inflation itself is already a major tax on Americans. This is even more evident as wages evaporate and so does the buying power of Americans as inflation takes off higher than it’s been in 40 years.
Biden and his administration continue to brag about their amazing economy, but the facts just aren’t there. If they want to show off a great economy, he needs to acknowledge the issue and begin taking action. Pretending that wage growth is the only factor in the amount of money Americans have to spend is ignorant and elementary.
Author: Cal Kent
