President Biden came under fire Monday for downplaying decades-high inflation and other problems during a “60 Minutes” interview, with critics accusing the president of being out of touch with economic reality. The Washington Times stories: White House
Read More...The June inflation numbers are a disaster, coming in at a 40-year high of 9.1%. After the Biden administration’s repeated victory laps crowing about “the fastest-growing economy in the world” and how we’re “stronger economically” than ever, the downward spiral is feeding a growing consensus that President Joe Biden and his Democrats in Congress are actively making things worse. According to official numbers, prices rose 1.3% on the month, which translates to an annualized pace of nearly 17%. Controlling for manipulated housing statistics, the numbers are even worse: 1.7% on…
Read More...The word inflation is being bantered about in Congress relating to the Pentagon’s 2023 budget quite a bit as senior leaders justify their funding decisions for the upcoming year. However, how important is inflation to the actual military budget, especially when the budget, after all, is just a recommendation? Last week, the Defense Department provided important information to Congress on how it is thinking about the nation’s inflation rate in terms of next year’s budget. The letter, requested by both Armed Services Committees’ ranking members, provided tidbits of insider knowledge…
Read More...President Biden on Monday pledged $ 1 billion of taxpayer money to boost independent meat and poultry producers and undercut industry giants, escalating his months-long battle with the meat industry over high inflation. Mr. Biden said four large companies control 85% of the beef market, 54% of the poultry market, and … The Washington Times stories: White House
Read More...A key measure of inflation showed consumer prices rising the fastest in four decades, the government reported Thursday, a day after the White House boasted that President Biden “saved Christmas” by helping to speed up delivery of gifts that are costing Americans more. The personal consumption expenditures index rose 5.7% … The Washington Times stories: White House
Read More...Editor’s note: Some observations on rising inflation from The Daily Signal’s audience are among those that caught our attention this week. As usual, you can send your own comments to the mailbag at letters@dailysignal.com.—Ken McIntyre Dear Daily Signal: I don’t know what a “high-class problem” is supposed to be, per David Harsanyi’s commentary (“Biden White House Will Pay for Playing Inflation Games“). My wife and I are decidedly middle class and we live frugally. Nonetheless, prices at the gas pump continue to increase and grocery goods are difficult to obtain. We…
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