President Joe Biden just set another record: the worst inflation since 1981, when consumer prices rose a staggering 8.5% in the 12 months to March.
This is our sixth consecutive month of inflation above 6% and our eleventh consecutive month above 5%.
The White House Response? A waiver of normally prohibited sales of Gasoline with high ethanol content over the summer, affecting only gas sold at 2,300 service stations across the country, out of a total of around 150,000.
The inflation picture gets even uglier as you drill down (although Team Biden is of course opposed to new drilling). Heating oil is up a staggering 70%; Gasoline, 48%. No single food category saw inflation below 7%.
The total for March alone was 1.2%, the strongest monthly jump since September 2005. This corresponds to a loss of 2.7% in monthly wages.
This inflation costs a typical family (median household income of $67,500) at least $5,000 a year.
Biden’s outgoing Flack Jen Psaki called them “exceptionally high” numbers before repeating the false claim that it was all “Putin’s price hike.”
The hardest hit are the Democrats who care the most: About 35% of nonwhite voters report significant financial strain, along with almost 50% of voters with incomes under $60,000.
But the President refuses to change course. His budget calls for more taxes, more borrowing, more spending. He has made no move to end his war on domestic energy. And he definitely won’t admit that his disastrous American rescue plan was like that A Fed study showed thatthe spark that started this conflagration by pumping nearly $2 trillion into an already overheated economy.
No, all Americans get from Joe & Co. are trivial gestures and lame finger pointing.
All of this basically guarantees that inflation, along with all the other disasters caused by Democratic control of Washington, will only get worse.
https://nypost.com/2022/04/12/bidens-insulting-response-to-our-inflation-crisis/ Biden’s insulting response to our inflationary crisis