Prices rose 7 percent compared to a year ago as inflation is now at a 40 year high (Washington Post).
With inflation factored in, wages decreased by 2.4 percent from December 2020 to December 2021(Daily Wire).
From Erick Randolf of the Georgia Center for Opportunity: “The problem is that we’ve established a new floor for prices that likely won’t go down in the coming years. Those impacts are most acutely felt in the areas that hit the pocketbooks of the lower income the hardest, such as food, rent, and energy. Now, it’s more important than ever to avoid pumping more stimulus into the economy that will only worsen the problem” (Facebook).
From the Wall Street Journal: The Labor Department said Wednesday that the consumer-price index rose 0.5% in December, or 7% in the last year. That’s the highest annual rate since 1982, when Paul Volcker was trying to wring inflation out of the economy with Ronald Reagan’s political support. The current inflation has caught the Federal Reserve and Biden Administration entirely by surprise, and they’re still not sure what to do about it other than to blame someone else (WSJ).
And ole Joe's approval rating is down to 33%. There's your breath of fresh air, leftists!!
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