News

#Democrats’ happy talk can’t hide the havoc inflation is wreaking

“Democrats’ happy talk can’t hide the havoc inflation is wreaking”

Democrats’ latest Hail Mary effort to sell themselves in advance of November’s election turns on claiming the US economy is doing great, with employment up 6.5 million this last year. It’s doomed to fail, for two big reasons.

First, everyone knows these are still overwhelmingly just jobs recovered post-pandemic (with the recovery slowest in Democratic-controlled, heavy-lockdown states).

Second, and more important: Working Americans are all too aware how rampant inflation is setting them back.

Indeed, prices are soaring higher for the working class than for better-off Americans: Inflation in the year through March was 9.4 percent for them, per the Labor Department’s CPI-W measure (Consumer Price Index for Urban Wage Earners and Clerical Workers), vs. 8.5% in the “headline” CPI number.

It’s even worse over the last six months, with annualized CPI of 10.1% but CPI-W of 11.1%.

These are the widest gaps ever recorded.

That’s because working-class Americans spend more of their incomes on food and gas, which have seen by far the stiffest increases in prices.

Gasoline prices over $7 per gallon are displayed at Chevron station in Los Angeles on April 5.
Gasoline prices over $7 per gallon are displayed at Chevron station in Los Angeles on April 5.
Image of Sport/Sipa USA

Plus, both food and gasoline have been hard-hit by Democrats’ war on carbon. Gas of course comes from the oil that Dems don’t want drilled, but oil and natural-gas products are also key to making fertilizer; price hikes there eventually show up at the grocery story.

Bottom line: Real working-class wages have been sinking for almost Joe Biden’s entire presidency, as inflation ate up nominal pay hikes.

And, again, inflation started taking off in early 2021 when Democrats rushed to push through Biden’s American Rescue Plan, which dumped $1.9 trillion in “stimulus” on an economy that was already recovering.

And voters see the truth every time they hit the grocery store or the gas pump. No amount of happy talk is going to convince them.

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.

For forums sites go to Forum.BuradaBiliyorum.Com

If you want to read more News articles, you can visit our News category.

Source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Please allow ads on our site

Please consider supporting us by disabling your ad blocker!