Staff Reports
Inflation continues to surge in the latest report on consumer prices, completely debunking any claims made by President Joe Biden and his Democratic allies that the situation was getting better. The December Consumer Price Index (CPI) saw a significant acceleration in inflation, with prices rising 0.3 percent – that’s triple the 0.1 percent increase from the previous month. Over the last 12 months, inflation skyrocketed 3.4 percent, well above the Federal Reserve’s target rate of 2.0 percent – yikes!
Another Month, Another Horrible Inflation Report https://t.co/VOuRfKGsxb
— Marlon East Of The Pecos (@Darksideleader2) January 11, 2024
It looks like Americans are feeling the squeeze on basic necessities, with shelter costs accounting for half of the surge in prices and the energy index also taking a big hit. The cost of food and core CPI inflation (which excludes food and energy) also saw substantial increases. This is bad news for Joe Biden and the Fed, who were hoping for some relief on the inflation front.
Alfredo Ortiz, CEO of the Job Creators Network, didn’t hold back in his criticism, calling out the Biden administration and Congress for their reckless spending habits. He pointed out that the surge in prices is pummeling ordinary Americans and small businesses, creating a looming cost-of-living crisis. Ortiz made it clear that the only way to rein in inflation is by putting the brakes on wasteful spending and urged voters to elect fiscally responsible candidates to make it happen.
As if things couldn’t get any worse for Biden, the comparison of current prices to when he took office in January 2021 is absolutely brutal. Americans are shelling out a whopping 28 percent more to heat their homes, and grocery bills have shot up by 23 to 37 percent. It’s a tough pill to swallow for many folks as they’re seeing the cost of many everyday purchases climb by over 20 percent, all while real weekly earnings have taken a 4.5 percent nosedive. Ouch! This spells trouble for “Bidenomics” and the chances of a second term for President Biden.
The bottom line? Inflation isn’t just a passing problem – it’s a full-blown crisis that’s hitting Americans where it hurts the most: their wallets. And if something isn’t done to rein it in soon, the situation is only going to get worse. Time will tell if voters heed the call for change and elect leaders who will turn the tide on this economic turmoil.
