The Biden administration is mocking struggling Americans by attempting to push the idea that 6.5% inflation is a good thing.
Rather than point out the record food and shelter prices, the Biden administration and its allies in the mainstream media are busy trying to convince the American public that a 0.1% decrease in inflation since November 2022, is a “good” thing.
“The fact that American families are out an extra $7,400 since Biden took office thanks to the climbing price of essentials hasn’t stopped the Biden administration from insisting the U.S. economy is in great shape because prices “fell” or “went down,” The Federalist said.
The economy I inherited nearly a year ago wasn’t just in crisis — it wasn’t working for working people.
We passed the American Rescue Plan and Bipartisan Infrastructure Law to help change that.
We’re rebuilding our economy from the bottom up and middle out — not the top down.
— President Biden (@POTUS) December 29, 2021
Axios attempted to prove to struggling Americans that inflation is better than it was a few months ago. “Inflation is slowing while the job market is still healthy — an enviable combination,” they reported.
However, the graph by Axios only shows that the latest Consumer Price Index numbers are only slightly down from the record-high inflation that has defined the Biden administration.
Americans are still paying high prices for essentials as well as energy. Energy costs increased by 7.3% since December 2021. Food increased by 10.4% since last year. The price of eggs climbed up to 11.1% since last year.
The Congressional Budget Office confirmed that inflation is making it harder for Americans to financially survive. “CBO notes that cross the income spectrum, the Biden economy has made workers and families poorer and less financially secure,” they reported.
Even congressmen share the sentiment that Biden’s economy is the worse in decades. House Ways and Means Committee Rep. Kevin Brady (R-TX) stated, “Frankly, the U.S. is not as strong economically as it was, or as energy independent as we were, under President Trump.”
Contemporarily, the inflation rate of the United States stands at 6.45%. YCharts reports that last month’s inflation stood at 7.11%, and last year’s inflation clocked in at 7.04%
While inflation has slightly decreased, it is nowhere near the percentage where inflation is considered normal. Under the Trump administration, inflation stood at 2%.
Overall, Biden’s economy is the worst it has been in decades. It’s surreal to imagine that just 2 years ago the United States had the best economy worldwide.