Biden's America: Inflation Skyrockets to Highest Level in 30 Years with 6.2% Surge in Consumer Prices
When Joe Biden promised not to tax the middle class during the presidential campaign, conservatives knew better. They tried to warn the rest of the country, but, unfortunately, moderates and liberals failed to listen.
By printing money to help pay for his administration’s exorbitant spending plans, Biden is exacerbating and driving inflation to heights not seen in many Americans’ lifetimes.
On Wednesday, the U.S. Labor Department reported that the consumer price index rose a whopping 6.2 percent in October from the same month last year.
According to the department’s report, this is “the largest 12-month increase since the period ending November 1990.”
The report found that prices for food, energy and everything else continue to rise for Americans and those increases don’t appear to be slowing down.
U.S. citizens have one man to blame for all of this — President Joe Biden.
Even the liberal New York Times admitted in an Oct. 18 article that the cause of the skyrocketing inflation was “likely” Biden’s spending spree.
Government spending at this extreme should be considered its own form of taxation. Renowned economist Milton Friedman often referred to it as “taxation without representation” due to the fact that while the government benefits from printing money, the end result is higher consumer costs and a devaluing of the average American’s savings.
Liberal outlets have noted that inflation can result in drastic increases in wages, but these increases are far outpaced by the soaring prices, resulting in — as was said before — the average American’s savings becoming less and less valuable.
This is how Biden is stealing from you to help pay for his exorbitant agenda.
He doesn’t need to tax you directly — he merely has to keep printing money to spend on progressive schemes that inevitably will end in failure.
The recently passed $1.2 trillion infrastructure bill isn’t going to do much in alleviating this problem.
Surprisingly, 13 Republican representatives voted to pass the bill.
In fact, it will likely serve to make the situation much worse.
As another Democrat expenditure — the Build Back Better plan — came closer to being signed into law, Republican Rep. Steve Scalise of Louisiana warned of how implementing such a large bill on top of already-skyrocketing inflation would exacerbate the problem.
“President Biden’s agenda has dramatically increased inflation, and they’re trying to pour gasoline on that fire,” Scalise said in September, according to Fox Business.
“[Democrats are] seeing how families have tied the increase in spending in Washington to higher inflation, and if you add trillions in new spending as well as trillions in new taxes, you’re only going to make inflation worse,” he said.
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