Staff Reports
President Biden’s make-believe world where inflation is supposedly “down” and prices are apparently “falling” just got another reality check. Latest figures from the Bureau of Labor Statistics reveal that the Consumer Price Index (CPI) for January 2024 surged, defying Biden’s rosy claims and dashing hopes that inflation was under control.
Oh Look, Another Inflation Report Is Destroying Biden's Claim That It's 'Falling' https://t.co/QsYIUkVLK5
— Lois Levine Fishman (@FishmanLevine) February 13, 2024
The CPI for all items increased by 0.3% in January, adding to a 3.1% jump compared to the previous year. And get this – since Biden took office in January 2021, prices have skyrocketed a whopping 17.9%. That’s higher than a kangaroo hopping on a pogo stick!
The culprit behind January’s inflation spike? None other than the cost of shelter, which made up more than two-thirds of the overall surge. In other words, it’s getting more expensive to have a roof over your head, and that’s no joke.
The core CPI, which excludes wobbly food and energy indexes, hiked even higher at 0.4% growth, leading to a 12-month surge of 3.9%. These numbers are way beyond the Federal Reserve’s puny target rate of 2.0% inflation, yet the Federal Open Market Committee toys with the idea of slashing interest rates. It’s like trying to put out a fire with a water gun!
The Job Creators Network CEO, Alfredo Ortiz, ain’t buying into Biden’s inflation fantasy. He blasted the administration’s delusional cheering, emphasizing that everyday Americans are feeling the pinch at the grocery store, hardware store, and pharmacy. Rents, car payments, and home and auto insurance are all shooting through the roof like fireworks on the Fourth of July.
Ortiz dropped some hard truths, pointing out that core inflation continues to skyrocket at twice the Federal Reserve’s target rate. He laid the blame squarely on “bad Democratic policies” like wild spending and snubbing cheap energy. To combat this inflation nightmare, he called for support of candidates who champion free enterprise, domestic energy production, deregulation, tax cuts, and the American dream. It’s like he’s declaring war on inflation with a flag that says “USA” waving in the background!
Treasury Secretary Janet Yellen didn’t offer much hope, confirming what everyday Americans already knew: real wages are in the dumps, and inflation keeps soaring. The Biden administration’s earlier claim that inflation was just a temporary blip and that prices were dropping at the end of January is as ridiculous as a dancing elephant in a tutu. The truth is, prices are climbing faster than a squirrel up a tree in a hurricane.
So, while the White House may want to spin yarns about a “strong” economy and falling inflation, the reality is that prices are skyrocketing, and everyday Americans are struggling to keep their heads above water. It’s like trying to swim with an anchor tied around your ankle!
