May 18, 2024
Bidenflation clocks in at 19.1% since Joe Biden took office
By Monica Showalter
Want more inflation?
Here's how we get more inflation, according to TIPP, which found that Bidenflation went up yet again, dating from the day Joe Biden took office.
The dark reality of Bidenomics is 19.2% inflation under the President’s watch, which is 5.9% annually. When he took office, inflation was at just 1.4%. Since March 2021, it has stayed above the Federal Reserve's 2% target (38 consecutive months.).
Under Biden, the federal debt has increased by $6.9 trillion. The Federal Reserve printed money out of nothing to finance his spending spree. The increased money supply without a corresponding increase in goods and services reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.
Prices have increased by 19.2%, while real wages have declined by 2.6%. Average hourly earnings for all employees dropped 2.6% to $11.09 in April 2024 from $11.39 in January 2021 when Biden took office.Biden has tried to gaslight the public with raw lies, claiming that inflation was 9% when he took office. The easily debunked reality is that it was 1.4% according to official data.
The gaslighting continued with his vice president, Kamala Harris, who claimed that Biden's out-of-control federal deficit spending was bringing inflation down.
"We're dropping trillions of dollars on the streets of America right now," making everyone wonder who got 'em. I wrote about that idiocy here.
Not to be outdone, Biden declared that he had done such a good job that Americans "have the money to spend" on inflated prices of goods. I wrote about that here.
more
https://www.americanthinker.com/blog/2024/05/bidenflation_clocks_in_at_19_1_since_joe_biden_took_office.html
