Staff Reports
The Biden administration’s economic policies, also known as Team Bidenomics, hit a major speed bump as inflation levels soared unexpectedly in February. Inflation, the sneaky little devil that makes your dollar bills shrink, decided to show up and crash the party with a whopping 0.4% increase, the highest jump since September. This pushed the year-to-year rate to 3.2%, compared to the January rate of 3.1%. You know what they say, when it rains it pours, or in this case, when it inflates, it really inflates!
Inflation Unexpectedly Higher in February Than Economists and White House Predictedhttps://t.co/GqTFmqiZxi
— RedState (@RedState) March 12, 2024
The White House is playing the blame game, pointing fingers at “volatile” gas prices and those pesky gas station owners for possibly gouging customers. But hold on a minute, the data is calling out a different story. The Core Consumer Price Index has been on a steady incline for seven months now, making it crystal clear that there’s more to this inflation saga than just gas prices.
Despite the White House’s attempts to sugarcoat the situation, trying to paint a rosy picture of the overall economy, the numbers don’t lie. February’s 12-month rate overshadows January’s rate, and the trends for the 3- and 6-month periods are on a one-way ticket to the top. It seems like Team Bidenomics needs a crash course in Economics 101 before they drive this economy off a cliff!
Team Bidenomics had been chanting the “inflation is under control” mantra to sway the Fed into lowering interest rates, maybe to score some brownie points for the upcoming 2024 election. But hey, reality check – the academic economists backing Biden’s reelection bid might have to swallow the bitter pill that hyperinflation is not a magical solution to make college loans disappear. Looks like it’s time for the White House to trade in their rose-colored glasses for a pair of reality goggles!
