The Left is scrambling right now because they know that they must if they have any chance of defeating Trump in November. And they cannot afford to lose even one small step.
But now, Joe Biden has been hit with a devastating loss that put his future in politics in jeopardy.
A hotter-than-expected inflation report that showed a 3.5% increase over the previous 12 months—the largest year-over-year increase since last September—destroyed President Joe Biden’s economy on Wednesday.
The Bureau of Labor Statistics just issued its Consumer Price Index data, which indicates that gas, food, car insurance, and electricity are the main causes of the increased prices.
With the price of pet food rising by 23.7% and baby food rising by over 30% since 2021, new parents and pet owners are also feeling the squeeze.
The unexpectedly high inflation figures may significantly scuttle any attempts to start lowering interest rates because they were released only one day after Treasury Secretary Janet Yellen declared that consumer finances were “quite strong” overall.
In response to the revelation, detractors of Biden’s economics pointed out that the inflation problem was obviously not temporary as had been claimed.
Senator Markwayne Mullin from Oklahoma said, “Remember when the admin said inflation was transitory? Overall prices are still up 19.4% since Biden entered office. Oklahomans are paying nearly double at the grocery store. Rent, transportation, and energy costs are still way too high. Americans can’t afford the Biden economy.”
Rep. Wesley Hunt from Texas also took the opportunity to attack Biden’s handling of the economy saying, “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 transitory, and that costs were under control. It’s NEVER been more expensive to live in this economy.”
Economist Stephen Moore provided side-by-side comparisons in three crucial areas to shed light on why Americans’ enthusiasm for the economy has declined since Biden assumed 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”
Additionally, a comparison graphic comparing the rates of inflation for several items under President Biden and previous President Donald Trump was released by the Republican National Committee (@RNCResearch).
You'll never convince Americans that Biden's economy is better than President Trump's economy — because it isn't.
SEE FOR YOURSELF: pic.twitter.com/Vww0dhubnV
— RNC Research (@RNCResearch) April 10, 2024
A twist was also provided by Fox Business host Dagen McDowell, who pointed out that families already struggling with inflation will suffer more as a result of President Biden’s persistent insistence on unilaterally canceling student loans, even in defiance of the Supreme Court.
McDowell said, “Food, energy, car insurance (+22% y/y)! This is an unavoidable hardship and anxiety for working Americans.”
He added, “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 Biden’s own former chief of staff in the White House, Ron Klain, told Politico that Biden was mishandling his reelection campaign and the evident issue of inflation.
“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,” he said.
Biden is losing support from every direction, and Americans are sick and tired of suffering under the iron fist of the Left.
Stay tuned to Prudent Politics.
