The following article, Biden Disaster: Second Inflation Report in Less Than a Week Shows Even Worse News, was first published on Flag And Cross.
Less than a year into his presidency, the evidence keeps building about how bad Joe Biden’s been.
On the heels of a report last week that showed consumer prices had risen in November by 6.8 percent over a year earlier — the highest in 40 years — the Labor Department announced Tuesday that wholesale prices had soared even more.
The Biden administration keeps setting records — but not the kind Americans want to see.
According to The Associated Press, the Labor Department reported that wholesale prices — the prices of goods before they reach the consumer — had risen 9.6 percent from November 2020. It was the biggest increase since 2010, when the current method of tracking the number went into use.
Amid the bad news — coming after earlier bad news — the Federal Reserve is expected to signal two or three increases in short-term interest rates in 2022, according to a separate AP report. That means higher costs down the line.
“Rate hikes would, in turn, increase a wide range of borrowing costs, including for mortgages, credit cards and some business loans,” the AP’s Christopher Rugaber wrote. “Just three months ago, the Fed had penciled in barely one rate increase in 2022.”
And all of that adds up to a double dose of disaster for the Biden administration — and at a Christmas season when many Americans tend to be more conscious of their spending than ever.
The Biden administration has been trying to spin its way out of a reality any American with a budget can understand — calling inflation “transitory,” like something that will go away with enough patience.
Liberal media outlets have alternated between trying to excuse Biden because inflation was out of his control and praising him for small bits of often illusory relief from it.
But the real world doesn’t run on White House spin or mainstream media bias. The real world runs on dollars and cents and gasoline and food. And in the real world, it’s obvious that the country that enjoyed a booming economy under President Donald Trump is moving into basket-case territory under President Joe Biden.
In the pre-pandemic year of 2019, the inflation rate under Trump ranged from 1.6 percent to about 2.3 percent, according to the CPI Inflation Calculator, which uses numbers from the Bureau of Labor Statistics. The country was heading for energy independence for the first time since the 1950s. Unemployment rates — especially for the minorities Democrats claim to care about — hit record lows.
That was the United States a presidential election ago. Now, with the Democratic
Party holding the White House and Congress by a whisper-thin majority in the House and a tie-breaking vote in the Senate, Americans can see the results for themselves.
Tuesday’s news was yet another round of bad publicity for the Biden White House.
INFLATION HIGH: Rick Santelli says producer prices rose 9.6% over last year — “a new record”
— Election Wizard (@ElectionWiz) December 14, 2021
Wholesale prices in November soaring 9.6% from a year ago. Near double-digit wholesale inflation will be passed on to consumers already crushed by a price surge not seen in nearly 40 years. Will the Fed take action or continue to kowtow to the left’s easy-money wishes?
— Dagen McDowell (@dagenmcdowell) December 14, 2021
Biden’s administration said inflation was “transitory.” It’s not.https://t.co/vsn4E7muH3
— Senator Ted Cruz (@SenTedCruz) December 14, 2021
The 21st century American Democratic Party, to its eternal shame, has been so consumed by the fever dreams of the lunatic left like Rep. Alexandria Ocasio-Cortez and their endless political theater of oppression that’s fooling even people who should know better, it has essentially abandoned the interests of the American people — white, black, Hispanic, Asian or some combination — who actually make this country what it is.
The party has a leader in the White House who makes a pretense of caring about the lives of the country’s citizens but shows every evidence of being unaware there are any problems at all under his disastrous administration.
But less than a year into the Biden presidency, Americans can see for themselves exactly where the country is, and where it’s almost certainly going. These two dire economic reports in less than a week make that crystal clear.
Fortunately, the country is also less than a year away from midterm elections that should, with God’s grace, the determination of Republicans and conservatives and the essential intelligence of American voters, put an end to at least some of the madness of the Biden years by returning both houses of Congress to Republican control.
The country is less than a year past Joe Biden’s inauguration and the results are too obvious to argue.
Less than a year ahead is the beginning of a potential recovery every decent American should be working for.
And next Christmas could be looking a whole lot brighter.
This article appeared originally on The Western Journal.
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