Not good – is what the latest inflation figure looks like.
“The Labor Department on Friday said the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rents, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April,” as reported by Fox News.
Essentially, being asleep at the wheel is why prominent GOP voices ripped Biden and his cohorts for. While inflation continues to hit record highs, in a seemingly alternate universe, the Biden Admin continues to celebrate a booming economy.
And when Biden is not celebrating the economy, the President is blaming others for how bad it is. It cannot go both ways, Mr. President.
Biden’s team tweeted an explanation: “One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%. It’s outrageous — and I’m calling on Congress to crack down on them.”
Senator Josh Hawley (R-MO) reacted and shared his reaction to the inflation report on Twitter: “Wow – inflation off the charts. Joe Biden’s destruction of the middle class continues.”
Also, Hawley is calling on Biden to resign if he can’t get a handle on the economic crisis: “Joe Biden’s war on American families continues. His policies have pushed inflation to generational highs, and he still won’t take any responsibility. If he can’t do the job, he should step down now,” told Hawley to Fox News Digital.
Even the New York Times says Americans are having trouble affording everyday items, as they tweeted this: “Breaking News: U.S. inflation accelerated, with consumer prices rising 8.6% in the year through May, a rapid pace that is making it increasingly difficult for people to afford everyday purchases.”
At some point this year, Monica Crowley joined Jesse Watters and accused Joe Biden’s administration of destroying the American economy on purpose as part of a big transition.
Jesse Watters scolded President Joe Biden and his administration as ‘useful idiots’ running America’s economy into a massive train-wreck, making Americans suffer ‘acute pain’ at the wallet and the people of the country simply aren’t buying the rhetoric coming out of the White House.
Monica Crowley, the former assistant treasury secretary, said this is absolutely catastrophic for Joe Biden and his administration. Crowley says this could be setting up Democrats for a disaster in November’s midterms.
Watters replied by saying the list of Democrat failures goes on, but wants to know “how bad is it?” Crowley dives into the situation even further making comparisons to former President Donald Trump and Joe Biden, calling it a deliberate destruction of the American economy.
To put the economy in perspective, CNBC published the results of surveys among small business owners not too long ago and a majority of Republicans and Democrats both believed that America would hit a recession at some point.
Small business survey results can be influenced by politics, with the community skewing conservative, but economic worries are high among all small business owners. Those who identify as Republicans or lean to the GOP are leading the bearish outlook, with 91% expecting a recession, but among those who are Democrats or lean to the Democratic party, it is still 66% that expect a recession this year.
The survey was conducted by Momentive between April 18-25 among a national sample of 2,027 self-identified small business owners.