(TheLastPatriotNews.com) – On the same day that Joe Biden went before the cameras from the East Room of the White House to warn the American people that the price of gasoline may skyrocket even higher if Russia invades Ukraine, it’s worth noting that not since Jimmy Carter sat in the Oval Office have Americans been punished so severely by the cost of everyday necessities.
As Breitbart reports:
“U.S. consumer prices jumped by the most in nearly four decades as the new year started, sapping the savings of American families, diminishing the purchasing power of worker paychecks, and putting pressure on the Federal Reserve to hike interest rates beginning in March.
“The consumer price index climbed 0.6 percent from a month before, the Department of Labor said. Compared with January of last year, consumer prices are up 7.5 percent.” [emphasis added]
And here’s some significant analysis from Breitbart:
“Although many economists and anti-Trump journalists claimed President Donald Trump’s tariffs would raise prices, consumer prices remained low throughout his administration…
“Inflation only began to accelerate last March after years of coming in below the Fed’s two percent target. The Fed had decided to keep interest rates low although the economy was recovering at a faster than expected rate. What’s more, the Biden administration pushed through billions of dollars of deficit spending in the American Rescue Plan. These combined to fuel demand for goods and services faster than supplies could expand, pushing up prices.” [emphasis added]
Clearly, the financial pain Americans are experiencing began after Biden and the Democrats Biden’s control of the United States.
What do you think? Please email [email protected] and share your opinion about Biden’s handling of the economy. Thank you, and have a good day.