Democrats, Biden worry as Bidenflation grows

This morning, Democrats got the bad news that inflation hit a new 40-year high. This isn't good news for consumers as this is the CPI-all items inflation rate. Undoubtedly, Democrats will tout the core rate because, as Ed Morrissey notes in this post, "There wasn’t great news on that front either, but it wasn’t as bad as overall CPI..."

Core inflation subtracts out the inflation caused by groceries and gas. Core inflation might be a helpful tool to economists but families don't get to subtract the money they spend on gas and groceries. CPI- all items is what families care about.

  • Headline CPI in March rose by 8.5% from a year ago, the fastest annual gain since December 1981 and one-tenth of a percentage point above the estimate.
  • Surging food, energy and shelter costs helped account for the gain.
  • Real worker earnings fell by another 0.8% during the month as the cost of living outpaced otherwise strong pay gains.
Real worker earnings falling is a fancy way of saying that families' buying power is shrinking. Democrats can use the "Putin price hike" line all they want but it won't work. The thing families want most is getting inflation fixed. Thus far, Democrats have failed at this. That, in turn, is why polls consistently show Republicans with a lead on who would handle inflation better.

Prices that consumers pay on everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday.

The consumer price index, which measures a wide-ranging basket of goods and services, jumped 8.5% from a year ago on an unadjusted basis, above even the already elevated Dow Jones estimate for 8.4%.

The data reflected price increases not seen in the U.S. since the stagflation days of the late 1970s and early ’80s. March’s headline reading in fact was the highest since December 1981. Core inflation was the hottest since August 1982.

Democrats are trying a new tactic: Thankfully, Rick Santelli gives us the information straight:

The bad news is that the Biden administration and other Democrats aren't interested in fixing inflation. Either that or they aren't capable of fixing inflation. The bad news is that the news is legitimately bad news.

Comments

Post a Comment

Popular posts from this blog

Is Joe Biden our Grifter-in-Chief?

Image
Apparently, Joe Biden doesn't care about the law or Supreme Court rulings. When asked about the ruling on his student loan bailout, Biden said that the Supreme Court misinterpreted the Constitution. He knows they didn't. That's just what he said to preserve the opportunity to introduce his next unconstitutional plan that will get rejected by the Supreme Court. This isn't about whether it's constitutional. It's about whether he can con enough young people into voting for him in 2024. Biden must've anticipated this ruling. Within an hour of the ruling, the Administration was out with this detailed fact sheet to replace the plan that he knew would fail. It opens with the same partisan attack as Democrats have mouthed. The fact sheet opens by saying "No President has fought harder for student debt relief than President Biden, and he’s not done yet. President Biden and Vice President Harris will not let Republican elected officials succeed in denying hard
Read more

Tim Walz's Confederate Flag Fiasco

Image
After Minnesota's Democrats shoved the most controversial progressive legislation down Minnesotans' throats, gossip started popping up about Gov. Walz being interested in running for president . That's died off but Gov. Walz is still making headlines, this time for all the wrong reasons. First, Gov. Walz isn't the brightest bulb in the chandelier. Still, Gov. Walz is fighting against Minnesota's history. This Alpha News article quotes David Hann, the chairman of Minnesota's Republican Party, as saying " The flag the DFL has eliminated was a version of the historic flag our regiments fought under during the Civil War. Minnesota was the first state to offer troops to the Union cause in 1861 , beginning a long tradition of leading the nation in confronting injustice. The DFL quest to erase our history is repugnant and should be rejected." Gov. Walz, though, sees things differently. He's quoted as saying "Minnesota is a diverse state, it continue
Read more

Maria Bartiromo's interrogation of Gov. Ron DeSantis

Image
Yesterday, Maria Bartiromo interrogated Gov. Ron DeSantis on Sunday Morning Futures. The first half of the interview, Bartiromo asked policy questions. Gov. DeSantis showed his understanding of the issues and presented his solutions on everything from China, inflation and growing the economy. The first reply he had was to cut spending. His next reply was to open energy production. Third, he talked about the importance of increasing productivity, which he correctly said is the best way to eliminate inflation. A little over half the way through the interview, though, it turned into an attack. Bartiromo asked "I'm wondering what's going on with your campaign. There was a lot of optimism about you running for president earlier in the year but here's this weekend's headline from the Politico Playbook: Failure to launch. Gov. Ron DeSantis's campaign to topple Donald Trump has stalled. We are way behind says a top DeSantis PAC official. What happened? Despite that bad
Read more