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Inflation Explodes Under Biden, Newly Passed Infrastructure Bill About to Make Things a Lot Worse

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Inflation rose a jaw-dropping 6.2 percent in the 12 months that ended in October, the Bureau of Labor Statistics announced Wednesday.

That’s the biggest monthly increase in 30 years, according to CBS News — just in time for the holidays.

As Americans get ready for Thanksgiving grocery shopping and Christmas gift buying, they’re bound to see higher prices on items across the board.

While October saw the most significant increase of 2021 so far, inflation has been trending steadily upward this year.

The Biden administration likes to pretend this only affects the wealthy, but the highest price hikes clearly impact average Americans.

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Fuel oil prices are up nearly 60 percent, gas is up nearly 50 percent and average food costs are up over 5 percent.

If you were thinking about buying meat any time soon, that might also cost you a pretty penny: Beef is up 20 percent, and pork is up 14 percent.

And there’s no end in sight.

“I think it’s almost certain to last for another six to nine months and could well last longer,” former Treasury Secretary Lawerence Summers said, according to CNN.

Have you seen higher prices while shopping?

Current Treasury Secretary Janet Yellen said the Federal Reserve may have to step in to keep inflation under control.

“Monetary policy would have a role to play if this turns out to be something that’s endemic,” Yellen said Tuesday, according to Fox Business.

The Wall Street Journal reported that the Fed is likely to raise interest rates next year because of the situation.

The recently passed $1 trillion infrastructure bill makes the outlook for inflation even more dire.

High levels of government spending could cause the dollar to lose value, raising prices even further. That’s Econ 101 stuff.

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Although even some Republicans backed the infrastructure bill, it was a fiscally irresponsible move that came at the worst possible time.

President Joe Biden doesn’t have complete control over the economy, but he certainly hasn’t done it any favors. Fifty-seven percent of Americans disapprove of his performance on economic issues, according to NBC News.

People are already noticing their wallets take the heat. You’d better believe they’ll have that in mind when they go to the polls in 2022.

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Cameron Arcand is a political commentator based in Phoenix, Arizona. His "Young Not Stupid" column launched at The Western Journal in January 2021, making Cameron one of the youngest columnists for a national news outlet in the United States. He has appeared on One America News and Fox 5 DC. Since 2019, he has been a Young America's Foundation member.
Cameron Arcand is a political commentator based in Phoenix, Arizona. In 2017 as a school project, he founded YoungNotStupid.com, which has grown exponentially since its founding. He has interviewed several notable conservative figures, including Dave Rubin, Peggy Grande and Madison Cawthorn.

In September 2020, Cameron joined The Western Journal as a Commentary Writer, where he has written articles on topics ranging from the COVID-19 pandemic, the "Recall Gavin Newsom" effort and the 2020 election aftermath. The "Young Not Stupid" column launched at The Western Journal in January 2021, making Cameron one of the youngest columnists for a national news outlet in the United States. He has appeared on One America News and Fox 5 DC. He has been a Young America's Foundation member since 2019.
Location
Phoenix
Languages Spoken
English




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