Remember a few weeks after Biden occupied the White House? Chairman of the Federal Reserve, Jerome Powell came out and assured Americans that inflation wouldn’t be an issue.
Well, either he was lying or Joe Biden has screwed things up beyond what even the worst-case models at the FED could not have predicted.
My vote is on the latter being true.
A recent tweet from Ted Cruz put Biden’s blunders into context.
In the six months that Joe Biden and Kamala Harris have been in office, we’ve experienced:
✅ A border crisis
✅ A gas crisis
✅ A war in the Middle East
Now, we’re also on the verge of an inflation crisis.https://t.co/8dElMW3Rga
— Senator Ted Cruz (@SenTedCruz) July 19, 2021
According to the latest report from the Bureau of Labor Statistics, inflation is out of control.
In fact, we haven’t seen numbers like these since the last Democrat, Obama was in charge. The Washington Times has more on the story.
According to the latest Bureau of Labor Statistics inflation report, “The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May.”
It gets worse. “This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.”
Talk about depressing. When you stack up the numbers, even with being in the midst of a worldwide pandemic, Trump outclassed Biden on the economy.
Liberals don’t want to admit it but reports from their own departments are confirming that the economic policies under President Trump were much much better.
In fact, what happened in 2020 provided the stress test needed to solidify President Trump’s policy as the gold standard, even rivaling if not surpassing that of President Reagan.
Enough of reminiscing about the good times under President Trump. Let’s return to our present reality under Joe Biden.
Let’s check out some of the incredibly awful stats under Joe’s watch.
Food costs are up.
“The food index increased 0.8 percent in June, as did the food at home index.”
The good news is that at least food costs didn’t exceed the rise in the cost to purchase a vehicle to get to your job to pay for said groceries.
The index for used cars and trucks continued to rise sharply, increasing 10.5 percent in June.
Oh and in case you were wondering, the price at the gas pump is not a glitch.
The gasoline index rose 2.5 percent in June.
That gasoline number is not for the year, that is from May to June. In a span of 30 days, the cost of your fuel has gone up more than it had the entire previous year.
Don’t get me wrong, under Joe Biden, we’re hitting some pretty impressive 12-month records as well.
The all items index rose 5.4 percent for the 12 months ending June; it has been trending up every month since January, when the 12-month change was 1.4 percent.”
“The index for all items less food and energy rose 4.5 percent over the last 12-months, the largest 12-month increase since the period ending November 1991.
Not since 1991 have we seen such devastating costs due to inflation. In case you were wondering what was happening in 1991, it was a little something called the Gulf War. And Biden is accomplishing all of this destruction without a foreign conflict.
What many conservatives understand is that this is what happens when you try and manipulate the free markets to achieve personal agendas.
As a result, what Americans are feeling is equivalent to a tax on your existence that keeps going up month after month.
If that sounds unfair, it is. In fact, this is the method that corrupt governments use in third-world countries to keep their citizens in poverty.
For the vast majority of Americans, these price increases are neither affordable nor sustainable.
They are like a tax that increases every month, eating up more and more precious disposable income.
What makes this sickening is that Biden is pumping more and more money into the economy. However, printing more money is actually making things worse.
Since taking office less than seven months ago, President Biden has already signed the $1.9 trillion American Rescue Plan while promoting his $2.7 trillion American Jobs Plan and $1.8 trillion American Families Plan.
Keep in mind, all of this new spending comes on top of the annual federal budget, which now tops $3 trillion per year.
The government is spending more money which makes many Americans think that they are also receiving more money.
But then the government and their supporters take back that money in the form of inflation and increased cost of goods.
So in reality, Americans have now ended up with less money than before and those trillions of dollars in “pandemic relief” go into the greedy pockets of corrupt politicians and their supporters.
Funny how Democrats always make you think they’re helping you out. In reality, they’ve got a gun to your back and a knife on your throat.