Joe Biden Claims Victory as Inflation Hits New Highs
In my opinion, Democrats just seem like they’re purposely out to destroy America. We are currently dealing with the most expensive time of our lives as a nation because of this economy. We can certainly thank Democrats for that.
The latest Consumer Price Index (CPI) numbers were released on Tuesday, and they came in higher than expected. The CPI rose 8.3% year over year for the month of August. The expectation was 8.1%, but just like every other month practically, they have been wrong. If you pay attention to the stock market at all, that’s why the Dow Jones Industrial Average fell over 1200 points at just under 4% for the day and the S&P 500 fell around 177 points for approximately 4.33%.
The price of food is still going up and rose 0.7% since last month. Natural gas prices are still outrageously high and still going up. Electricity is still more expensive than normal. Everything is more expensive. I don’t think that you could name one thing that is less expensive.
Nevertheless, Joe Biden touted this as a victory. Yep. This bozo is so incapable of understanding economics that he called a surprise of 8.3% instead of 8.1% a victory.
President Joe Biden claimed victory in the “essentially flat” prices.
“It will take more time and resolve to bring inflation down, which is why we passed the Inflation Reduction Act to lower the cost of healthcare, prescription drugs and energy,” he said in a statement. “And my economic plan is showing that, as we bring prices down, we are creating good paying jobs and bringing manufacturing back to America.”
He either doesn’t understand economics or he just likes to lie about it. I honestly think that it’s probably some sort of combination of both. So, when does build back better start? It’s been nearly two years now and I still haven’t seen anything that looks any better.