The new economic numbers are in. Inflation is up 6.2%. This is the biggest jump since 1991. We understand that fact-checkers may try to say this is not the fault of the Biden-Harris regime.
But President Biden has been taking credit for jobs growth, much of which is just Covid-19 rehires, and trying to taunt former President with those numbers. That is because Trump always bragged about his jobs growth and stock market gain numbers.
So if that is the way the Biden regime is looking at things, it seems safe to say it’s also their fault for the rampant inflation that sent chills through the stock market futures last night and is rocking the Nasdaq especially hard. Even the Washington Post, a left-leaning news outlet if you ever see one, admits that wage increases may well be totally negated by inflation.
In a tweet lower in our story, U.S. House Rep Mo Brooks (R-AL) said if you didn’t get a 6.2% raise, you are losing money. The Washington Post said in part:
Stagnant wages haunted the country for years until the pandemic blew the old economy away and ushered in an era of labor scarcity, giving workers more leverage. Since then, earnings for rank-and-file workers have grown at the fastest pace in four decades.
But new data released today shows how price inflation is eating into many of those higher wages. Prices rose 6.2 percent in the past year, threatening to completely negate gains.
Average hourly earnings are up 5.1 percent on the year, a significant increase after years of middling growth. But inflation is more than wiping out those gains; when adjusted for the costs of rising prices, earnings are down 1.1 percent on the year.
The Ways and Means GOP tweeted out:
“Inflation is reaching levels Americans have not seen since the early 1980s. Worse: These levels may result in permanent price hikes and long-lasting scars on the American economy. Democrats’ absurd tax-and-spend spree couldn’t be more poorly timed.”
Inflation is reaching levels Americans have not seen since the early 1980s.
— Ways and Means GOP (@WaysandMeansGOP) November 10, 2021
Worse: These levels may result in permanent price hikes and long-lasting scars on the American economy.
Democrats’ absurd tax-and-spend spree couldn’t be more poorly timed.
Heather Long reported:
“BREAKING: U.S. inflation was up 6.2% in October over a year ago. That’s the highest inflation in 31 years. Inflation was up 0.9% in Oct. alone, a much higher increase than 0.4% in Sept. and 0.3% in August. Prices are rising for food, energy, shelter, used cars and new cars.”
BREAKING: U.S. inflation was up 6.2% in October over a year ago. That’s the highest inflation in 31 years.
— Heather Long (@byHeatherLong) November 10, 2021
Inflation was up 0.9% in Oct. alone, a much higher increase than 0.4% in Sept. and 0.3% in August.
Prices are rising for food, energy, shelter, used cars and new cars.
Rep Brooks tweeted:
“Debt Junkie Republicans & #Socialist #Democrats force $30 TRILLION debt on USA, BEFORE trillion dollar spending bills pass. BAD result: 6.2% inflation! If you didn’t get 6.2% pay raise in past year, you suffered a pay cut. DC betrays USA citizens!”
Debt Junkie Republicans & #Socialist #Democrats force $30 TRILLION debt on USA, BEFORE trillion dollar spending bills pass.
— Mo Brooks (@RepMoBrooks) November 10, 2021
BAD result: 6.2% inflation!
If you didn’t get 6.2% pay raise in past year, you suffered a pay cut.
DC betrays USA citizens!https://t.co/VrjZWoXfoM
Although fact-checkers and left-leaning outlets reliably run interference for the Democrats, many will still say with confidence that if Donald J. Trump was still the president he would have a better economy and would have enacted a better plan to get all the ships waiting outside the ports processed faster.
Trump was also much more pro-oil than any Democrat and would probably oversee cheaper gas prices, although we know that leftists and Biden want to blame this on OPEC. Stay tuned for more updates from Media Right News.
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