Some of you might remember 1990. Joe Biden had already been in the U.S. Senate for 17 years. He hadn’t anything by that point, and didn’t do anything after. Which is perfect, because he’s still doing nothing
Consumer Prices Soar 6.2%, Fastest Rate of Inflation Since 1990
Consumer prices rose at their fastest rate in decades in October, data from the Department of Labor showed Wednesday.
The Consumer Price Index rose 0.9 percent in October from September, exceeding expectations for a 0.6 percent rise. Compared with the prior October, prices are up 6.2 percent, exceeding expectations for a 5.8 percent rise and the highest annual rate since 1990.
Excluding food and energy, two categories of goods that are central to the cost-of-living to households but are so volatile that economists look beyond them to see underlying inflationary trends, and prices rose 0.6 percent on a monthly basis and 4.6 percent annually. Both exceeded expectations.
Earlier this year, inflationary pressures were largely concentrated in a few areas of the economy, leading Fed officials and others to expect inflation to taper off when temporary supply bottlenecks cleared up and demand surges related to the reopening of parts of the economy subsided.
Instead, the tide of rising prices has accelerated, broadened, and become stickier. The Department of Labor described October inflation as “broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors.” Energy prices rose 4.8 percent in the month, with gasoline prices rising 6.1 percent compared with the prior month. The food index rose 0.9 percent in the month and 5.3 percent over 12-months, with food at home rising one percent on a monthly basis and 5.4 percent annually.
Let’s be fair, a goodly chunk of this has nothing to do with Biden or his Democratic Comrades: we should be blaming China for releasing COVID19. Much of this could have been happening if Trump had won re-election. The difference is, Trump wouldn’t have done everything possible to exasperate the problems caused by COVID like Biden. Other countries are dealing with so many of the same issues, yet, their leaders are not working hard to make them worse, they’re working to help solve them. Which is what Trump would have done. Biden is in Clueless Land.
By all accounts, the threat posed by record inflation to the American people is not “transitory” and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.
— Senator Joe Manchin (@Sen_JoeManchin) November 10, 2021
And Democrats are still trying to pass the Build Back Better bill, which will make things even worse. They will supposedly vote on it Friday.
This is brutal pic.twitter.com/RExFPOHPzN
— Benny Johnson (@bennyjohnson) November 10, 2021
In all my years, I cannot remember a poll with that question.
