Critics have blamed Joe Biden for numerous problems that have hit the U.S. If polls are to be believed, Americans blame him for the country being on the wrong track. Since 2021, the country has suffered rising crime, failures overseas, a besieged border, and economic woes.
Yet it appears as if the Biden administration refuses to take responsibility for any of these things. All too often, Biden or his officials blame Republicans or Donald Trump.
But one problem most Americans put at Biden’s feet. And despite claims to the contrary, it keeps roaring back. Now, with the election just months away, a report has shaken the Biden White House. This problem just won’t go away.
From Breitbart:
A key gauge of inflation surged higher in January, confirming earlier data showing that the prices of goods and services in the U.S. rose at a faster clip as the new year began.The producer price index for final demand, a broad measure of the prices paid for goods and services produced by U.S. business, rose 0.3 percent from a month earlier, the Department of Labor said Friday.
Wall Street had expected a smaller rise of just 0.1 percent. In December, the index fell by 0.1 percent after rising just 0.1 percent in November.
Again and again, Democrats have claimed inflation is “down.” But they neglect to explain that, while it has been done from its peak in previous years, it is still higher than what it was before Biden took office.
And now, a new report reveals that inflation is jumping back up. The prices of goods and services last month rose faster than in November or December last year. Experts predicted prices would stay relatively flat. Perhaps they thought the holiday season would help companies as they entered the new year.
Instead, the producer price index for final demand rose by 0.3 in January. This is a measure of what Americans are paying for goods and services and a “key gauge” for inflation.
Most Americans would have noticed, at least, the price of gas rising in recent weeks. That has coincided with a jump in groceries, including staples like milk and eggs. After a relatively short period of relief, prices are rising once again.
Biden jumpstarted inflation at the very beginning of his term when he passed a law that injected 1.7 trillion in new dollars into the economy. That dramatically lowered the value of the dollar. He proceeded to hamstring American energy by banning drilling on federal land. That resulted in a jump in gas and energy, which further affected prices.
The president has continued to claim the economy is “strong,” despite over three years of higher prices. Real wages have been suppressed as Americans are forced to pay more for rent, gas, food, clothing, and everything else.
Key Takeaways:
- The producer price index for final demand jumped in January, a sign that inflation is returning.
- Under President Biden, inflation hit historic highs—hurting American workers.
- Biden has long dismissed or outright ignored concerns over inflation.
Source: Breitbart