Such is our reality in Biden’s America.
Economically speaking, your average American citizen has not faced this much pressure since the financial crisis in the early aughts.
The Biden administration has succeed in ensuring your life be that much more difficult by increasing taxes while simultaneously overseeing the rise of all common goods and services, and making sure your job prospects are taken up by hoards of illegal immigrants being imported on a daily basis.
And to top it off, wages are in steady decline since giant corporations can now take advantage of cheap illegal labor from Central and South America.
On Wednesday, data from the Department of Labor showed the pace of inflation picked up in September, pushing prices up by more than expected.
The Consumer Price Index rose 0.4% compared with August, pushing the index’s annual gain up to 5.4%. A month ago, prices were up 0.3% compared with the prior month and 5.3% compared with 12-months earlier.
Analysts had forecast the index’s gains to match the August figures, so the actual results were one-tenth of a point worse than expected.
Core CPI, which excludes the volatile categories of food and energy, rose 0.2% on a monthly basis, up from 0.1% a month earlier. Compared with September of last year, core CPI was up 4%.
Households were hit hard by rising prices for housing, fuel, and food. The index for food rose 0.9% , with food at home rising 1.2%. The index for energy jumped 1.3%, with gasoline climbing 1.2%.
The September figures indicate that inflationary pressures are not subsiding even after months of higher than expected price hikes. Many Fed officials and the Biden administration have said they expect inflation will be transitory. Atlanta Fed president Raphael Bostic broke with this consensus and warned that inflation is likely to last longer than expected due to supply chain disruptions.
Unfortunately, these disruptions also face no signs of improving as embattled trucking companies can barely keep drivers in their rigs. Vaccine mandates put forth by the Biden administration has caused a staffing crisis, essentially guaranteeing goods remain trapped at shipping ports.
Christmas is looking bleak, but we can’t let Biden – of all people – to destroy it.
Author: Sebastian Hayworth
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