Inflation in the United States has skyrocketed to a 40-year-high. Not since June 1982, has the U.S. seen such a dramatic spike in the Consumer Price Index (CPI). The CPI is a critical yardstick used to measure inflation.
The CPI calculates changes, both increases and decreases, in the costs of goods and services. Using these analytics, economists track the price of automobiles, housing, and everyday items such as gasoline and groceries.
According to the U.S. Bureau of Labor Statistics (BLS), consumer prices rose a full half-percent in December alone. Records show that inflation has jumped six percent for three consecutive months. Again, this is the worst inflation crisis in four decades.
Americans don’t need to look far for the reasons why. The “buck stops” at 1600 Pennsylvania Avenue. The “buck stops” at the White House. Joe Biden’s bumbling economic policies are stealing money from hardworking Americans.
What minimal increases Americans have seen in their paychecks are being absorbed by inflation. The Biden administration has bungled the U.S. supply chain crisis as well. Stalled delivery channels have frozen items at major U.S. ports.
Store shelves are empty, and the products that make it to store are more costly. Joe Biden’s unconstitutional push for federally mandated COVID-19 vaccines has worsened the problem. Shutting down the Keystone Pipeline triggered a dizzying rise in fuel prices.
A tight labor market, coupled with an increase in the cost to ship goods, have helped flame the inflation bonfire. However, the liberal push to flood the market with more money is at the heart of the inflation crisis.
Trillions in government spending triggered it. Furthermore, the current inflation is not transitory, or so we were told. Inflation has continued to rise. In some markets, it has gotten worse. Every policy Joe Biden has enacted or proposes has made or will make inflation worse.
There are reports the Federal Reserve will make at least three interest rate increases in the next year. BankRate chief financial analyst Greg McBride insists, “When the annual rate of inflation begins with a 7, there is immense pressure on the Federal Reserve to get it under control.”
After hearing all the lies and misinformation about how inflation over the summer was “transitory”, now Fed Chair Jerome Powell insists that it is a “severe threat” to the U.S. economy. Oddly, what was transitory is suddenly a threat. It always was.
Powell feels this 40-year record in inflation will increase well into 2022. Like clockwork, Joe Biden is looking for a scapegoat. Instead of accepting responsibility for horrific economic decisions, Biden is trying to blame meatpackers and energy providers.
The facts point to government ineptitude, beginning in the White House. However, Biden falsely tries to blame it on corporate greed. There have been stern warnings against another high-end liberal tax and spend bill, the real reason behind inflation.
Economic experts insist more spending will only exasperate the crisis. Nevertheless, Biden continues to push his insane “Build Back Better” plan. Many conservatives proclaim the bill, thankfully frozen in the U.S. Senate; will “Build Back Broke”.
Biden tried to push back on Republican claims he is ignoring the inflationary hardships Americans are experiencing. In a recent speech, all Biden could say was “malarkey”. What truly is “malarkey” is Joe Biden’s economic policy.
Joe Biden is “malarkey”. Every decision he has made, since he stole his way into the White House, has been pitiful. He has embarrassed the nation on a national stage. Migrants are flooding across our southern border. Crime has befallen our major cities.
Now, because of his economic ineptitude, Americans are paying more for things than they have in 40-years. He’s made the worst policy decisions of any U.S. president. Just days shy of one-year in office; Joe Biden is already the worst president in history.