Economy — Opinion — TIPP Poll
Bidenflation At 16.0% Highlights Bidenomics Failure
Blame Bidenomics for America's stagflation.
tippinsights Editorial Board
July 16, 2023 . 7:57 AM 10 min read
Warning: If you believe the economy is hunky-dory, please skip this article.
Bidenomics is a complete and utter failure that has led to stagflation in the United States. No amount of sugarcoating can hide the truth. Americans are struggling with high prices. You need $1,000 in earnings today to buy what $862 could buy when Biden took office. Alternatively, if you needed $50K yearly for household expenses before Biden took office, you now need $58K.
The Consumer Price Index (CPI) released by the government last Wednesday showed a 3.0% year-over-year increase in prices from June 2022 to June 2023, declining from a rate of 4.0% in May, 4.9% in April, 5.0% in March, and 6.0% in February. The CPI rate has declined steadily from a 40-year high of 9.1% in June 2022 to 3.0% in June 2023. However, the CPI rose 0.2% last month after adjusting for seasonality and 0.3% on an unadjusted basis.
Following the CPI release, a media headline read:
U.S. economy shifts into disinflation mode; consumer prices rise modestly
Wow! Disinflation mode? We wondered if the headline writer deliberately wants readers to think of deflation (negative inflation or actual price decreases). Disinflation means a decrease in the inflation rate, while deflation means actual price decreases.
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https://tippinsights.com/bidenflation-at-16-0-highlights-bidenomics-failure/
