AuntiE Loc: 45th Least Free State

Biden's Claims Of Economic Victory Slapped Back By Worse-Than-Expected Inflation Report
By Virginia Kruta
•
Apr 10, 2024   DailyWire.com

President Joe Biden’s economy took a gut punch on Wednesday when a hotter-than-expected inflation report dropped, revealing a 3.5% increase over the last 12 months — the highest year-over-year increase since last September.

According to the latest Consumer Price Index data — which was released by the Bureau of Labor Statistics — key drivers of the higher rates include car insurance, groceries, electricity, and gas. New parents and pet owners are feeling the pinch as well, with baby food now up over 30% since 2021 and pet food up 23.7%.

SINCE BIDEN TOOK OFFICE:

Gasoline: 47.8%
Groceries: +21.1%
Eating out: +21.4%
Baby food: +30.5%
Pet food: +23.7%
Rent: +20.9%
Electricity: +28.3%
Natural gas: +26.9%
Used cars: +20.9%
Air fare: +32.7%
Public t***sportation: +22.2%
Real average weekly earnings: -3.9%
8:46 AM · Apr 10, 2024

The higher-than-expected inflation numbers come just a day after Treasury Secretary Janet Yellen insisted that overall household finances were “quite strong” — and may put a sizable kink in any plans to begin bringing interest rates back down.

Critics of the Biden economy weighed in on the news, noting that the inflation crisis was certainly not, as promised, t***sitory.

”Remember when the admin said inflation was t***sitory? Overall prices are still up 19.4% since Biden entered office. Oklahomans are paying nearly double at the grocery store. Rent, t***sportation, and energy costs are still way too high. Americans can’t afford the Biden economy,” Senator Markwayne Mullin (R-OK) said.

Rep. Wesley Hunt (R-TX) added, ”Prices RISE by 3.5% in March over last year. But don't believe your lying eyes. Biden told us it would be temporary, it would be t***sitory, and that costs were under control. It's NEVER been more expensive to live in this economy.”

Economist Stephen Moore shared side-by-side comparisons in three key areas that explained why Americans are not as enthusiastic about the economy as they were before Biden took office.
* Inflation: Jan ’21, 1.4%; March ’24, 3.5%
* 30-year fixed mortgage rate: Jan ’21, 2.65%; March ’24, 6.82%
* Average gas price: Jan ’21, $2.39; March ’24, $3.39

The Republican National Committee (@RNCResearch) also posted a comparison chart showing the inflation rates of specific items under President Biden and under former President Donald Trump.

“You’ll never convince Americans that Biden’s economy is better than President Trump’s economy — because it isn’t,” the caption read. “SEE FOR YOURSELF.”

Fox Business host Dagen McDowell added a twist as well, noting that President Biden’s continued insistence on unilaterally canceling student loans — in defiance of the Supreme Court — would only make things worse for families already feeling the pinch from inflation.

“Food, energy, car insurance (+22% y/y)! This is an unavoidable hardship and anxiety for working Americans,” McDowell said. “So Joe Biden again screws them + the nearly 90% of Americans with NO STUDENT LOAN DEBT and then hands them the bill for bailing out college graduates who didn't feel like paying off their own debts.”

Even Ron Klain, Biden’s own former White House Chief of Staff, told Politico that Biden was making a strategic mistake when it came to the obvious problem of inflation and his ree******n campaign.

”I think the president is out there too much talking about bridges. He does two or three events a week where he's cutting a ribbon on a bridge. And here's a bridge. Like I tell you, if you go into the grocery store, you go to the grocery store and, you know, eggs and milk are expensive, the fact that there's a f***ing bridge is not … Like it's a bridge, and how interesting is the bridge? It's a little interesting but it's not a lot interesting.”

proud republican Loc: RED CALIFORNIA

And he lied too. He said inflation is better now than when he took the office.. Lying SOB... Inflation was 1.4 when this asshole took the office..

AuntiE Loc: 45th Least Free State

What completely astonishes me is Janet Yellen totally trashing any reputation she had remaining by continuing to spout the party line.

Milosia2 Loc: Cleveland Ohio

Inflation is caused by too much earned money chasing too few products.
Todays inflation is being caused by corporate greed.
Nothing else.
Corporate price gouging to skew the numbers for Biden .and to painlessly increase their own bottom lines.
Raising prices , cutting portions , increasing profits .
Calling ….
Inflation .
It’s
Greed !

Milosia2 Loc: Cleveland Ohio

The upside of inflation is that higher wages are prevailing. Chasing fewer products .
As they come together , inflation subsides .
You use the term lying sack of s**t wrecklessly considering your daddy lies every time his lips move.
Are you that unaware ???
That your daddy trump is definitely , a Lying Sack of S**t !

AuntiE Loc: 45th Least Free State

As usual you are wrong. Had you read the article you would have seen over a 3% decline in wages to costs.

Real average weekly earnings: -3.9% close to 4%.

Your Econ knowledge is negligible.

archie bunker Loc: Texas

Funny. Every time I use language like this, my posts are deleted, and, I'm threatened by Admin. on this site.
Is the Admin bull your nurse cow?

JFlorio Loc: Seminole Florida

Can’t stand that two faced hobbit. Made all her millions by capitalism and now prefers socialism or crony capitalism. The FED hasn’t been doing it’s job for awhile.

AuntiE Loc: 45th Least Free State

I would never ever have believed Kevyn could be topped for stupidity. For 10 years he has reigned as number one. In only four years, she has managed to topic Kevyn. She has yet to ever write a coherent comment. To give Kevyn credit, at least once a month, he produces an accurate and well written sentence. In fact, even when he is wrong, he writes coherently. She is not only dumber than rocks, she cannot write.

Weasel Loc: In the Great State Of Indiana!!

It is amazing that when people can't win an argument they always resort to name calling. You do remember Biden did the same thing whn he Lost his argument on Putin. But he didn't say daddy putin He used the word BUTCHER.🤔 So go on and think of some more words. You'll need them tomorrow.

Smedley_buzkill

Non-existent is a little more accurate.

Smedley_buzkill

There you go, projecting again.

DAV

What else can you expect from Lie-beral Demonocrats ?!?! If you're looking for honesty, IT AIN'T GONNA HAPPEN !

Radiance3

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Great and factual statistics. Inflation keeps on rising. And Powell won't reduce interest rates. We know that high interest rates hurt the economy. Fact: Raising interest rates do not curb inflation. There are many economic activities affected and in fact hurt the economy further.

Market fears that Powell won't reduce interest rates. The stock market kept on going down since yesterday until today.

Please watch out which bank you are banking. There have been 64 banks that went to bankruptcy recently.

Radiance3

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Continuation: The stock market at noon has come back to positive however, the Treasury rate has gone up as well.
Negative effect. Biden is massively spending and borrowing money. Our national debts keep on rising. With higher Treasury yield, interest expense accrued to our debts also goes up. Right now, it could be more than $600 billion or even a trillion if the debts move up further. We are spending annually, $600 billion for interest alone to our national debts. Biden's is a great deceiver. And people think their stock market is great. We must control the rising of our national debts. By controlling social spending.

With our GDP at $27.94 trillion, and debts of $34.59 trillion, Biden is overspending 19% over the revenue earned.