Staff Reports
Despite what President Joe Biden and the Democrats are saying, inflation is still on the rise, and it’s not showing any signs of slowing down. The latest Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS) reveals that in December 2023, inflation increased by 0.3 percent, tripling the previous month’s increase. Over the last 12 months, inflation has escalated by 3.4 percent, which is way higher than the Federal Reserve’s target rate of 2.0 percent. It looks like the Biden administration has missed the mark yet again!
The spike in prices is hitting Americans where it hurts the most – the wallet. The cost of shelter went up by half of December’s increase, and energy costs rose by 0.4 percent, with electricity and gasoline prices outweighing a small drop in the natural gas index. Additionally, the cost of food went up by 0.2 percent. When you look at core CPI inflation, which excludes food and energy, it increased by 0.3 percent in December, and over the past year, the cost of food saw an additional 2.7 percent surge. Who can afford to fill up their gas tank or buy groceries with these prices?!
CPI for all items rose 0.3% in December; shelter up https://t.co/dJyJeKlXDJ #CPI #BLSdata
— BLS-Labor Statistics (@BLS_gov) January 11, 2024
Job Creators Network CEO Alfredo Ortiz isn’t holding back in calling out the Biden administration and Congress for their out-of-control spending, which has led to this inflation nightmare. He’s not wrong – these skyrocketing prices are a direct result of their reckless financial decisions. This inflation is absolutely wreaking havoc, and there’s no relief in sight for hardworking Americans and small businesses. It’s time to put a stop to this madness and elect candidates who will manage our money responsibly.
The Federal Reserve had hinted at slashing interest rates in 2024, but with inflation continuing to climb, they might have to rethink their strategy. And as for President Biden, his hopes of touting “Bidenomics” as a reason for re-election are quickly fading. Let’s not forget that this inflation mess is the result of Biden’s economic policies. Americans are feeling the pinch – their heating bills have shot up by over 28 percent, grocery costs are up by 23-37 percent, and other everyday purchases have increased by a staggering 20 percent. It’s no wonder real weekly earnings have fallen by 4.5 percent under Biden’s leadership. Ouch!
Inflation is out of control, and it’s all thanks to the Biden administration’s reckless spending. It’s time for a change in leadership, one that will focus on responsible fiscal policies and put the hard-earned money of Americans first. Let’s put an end to this inflation nightmare!
