Inflation remains a significant issue in the U.S., with recent data and statements highlighting its impact on the economy and public sentiment. President Joe Biden acknowledged the stubborn nature of inflation, which has seen prices rise by 19.4% during his tenure, with inflation consistently at or above 3% for 36 consecutive months. The Financial Times and Congressional Budget Office have pointed to massive federal deficits and spending on interest as key drivers of inflation, suggesting that interest rates may need to remain more inflationary for longer to manage the situation. Critics, including Republican representatives and the Heritage Foundation, attribute the persistent inflation to Biden's economic policies, particularly his approach to federal spending. Specific price increases have been noted across various sectors, including a 29.2% rise in electricity prices, a 21.1% increase in food prices, and significant hikes in the cost of baby food (30.5%) and eggs (49.3%).
Americans feel the pain of Bidenomics every time they go to the grocery store or fill up their cars. Though President Biden continually attempts to gaslight the American people, the price at the bottom of the receipt speaks for itself.
Inflation is stubbornly high, and the Biden administration’s spendthrift public policies are to blame. Until the federal government decides to slow its breakneck pace of spending, inflation isn’t going anywhere. @RealEJAntoni https://t.co/VnSAqw7HeR
Americans are paying more for everyday items thanks to Biden's reckless economic policies: 💡Electricity is UP 29.2%. 🍔Food prices are UP 21.1%. 🥚Eggs are UP 49.3% 🍼Baby food is UP 30.5% 🥦Frozen vegetables are UP 28.2% 🍪Cookies are UP 26.7% 🥣Soups are UP 26.4% 🍟 Snacks…
In his latest budget proposal, it is clear that President Biden wants to continue the same out of control spending that caused prices to spike. With prices having risen nearly 20 percent since President Biden took office, Americans are having to pay more and more to get by.
Biden admits inflation is still high: "It is being stubborn” MORE: https://t.co/G1e8B0H0rd https://t.co/gVFyfYjKtg
QUESTION: "Are you concerned that stubborn inflation will hurt your re-election bid?" BIDEN: "It is being stubborn." FACT: Prices are up by 19.4% under Biden — with inflation that's been at or above 3% for 36 STRAIGHT MONTHS. https://t.co/PPAO7C9LoH
FT: Massive deficits are stoking inflation CBO: Spending on interest is the fastest growing part of the federal budget FT: Interest rates will have to remain more inflationary for longer (Note: There are numerous channels through which rate hikes can aggravate inflationary… https://t.co/55t8CBqSHV https://t.co/MDSwH3XHrL
Inflation is out of control https://t.co/SsxcBEC1iD
Sounds inflationary. https://t.co/F3jDdJyCz0