Newsline

Newsline , Society

The Biden Effect: A Higher Cost of Living

Posted on Thursday, July 15, 2021
|
by AMAC, John Grimaldi
|
32 Comments

WASHINGTON, DC, July 15 — The Biden effect is taking its toll on American middle-class workers and their families sooner and more burdensome than expected. The consumer price index soared by .9% in the month of June, the largest one-month increase in 13 years; it has spiked 5.4% on a year-to-year basis, according to the Labor Department. The timing couldn’t be more worrisome as the nation reels from the impact of the COVID-19 pandemic.

It gets worse. The consensus among economists is that the rate of inflation is poised to increase at rates we haven’t seen in 20 years; in 2001 when it stood at 2.85%. In a June 16, 2021 article, the Washington Post reported that “[t]he Federal Reserve expects inflation will climb to 3.4 percent this year, higher than the central bank’s previous forecasts, while also projecting for the first time that there could be two interest rate hikes in 2023. “In its July 9, 2021 Monetary Policy Report, the Federal Reserve validated the Washington Post article advising that “[c]onsumer price inflation, as measured by the 12-month change in the PCE price index, moved up from 1.2 percent at the end of last year to 3.9 percent in May. The 12-month measure of inflation that excludes food and energy items (so-called core inflation) was 3.4 percent in May, up from 1.4 percent at the end of last year.

If you haven’t noticed, the price of gasoline has been soaring since Mr. Biden took office. The average price of regular gasoline in 2020 stood at $2.17 per gallon, according to the U.S. Energy Information Agency; it’s well past $4 a gallon in many places so far in July of 2021. And it costs more to feed your family these days than it has in years. To make matters worse, the prospects of those costs, and the basic cost of living, are for them to grow even higher in a short time.

Kristin Tate, analyst and author of the book, How Do I Tax Thee? A Field Guide to the Great American Rip-Off says that a big part of the blame is the Biden administration’s “massive new spending plans.”

Tate, in a new Opinion article published by The Hill, points out that Mr. Biden wants to spend $2 trillion on a so-called “infrastructure” bill and another $1.8 trillion on “social spending,” whatever that entails.

She says: “As if these large spending plans aren’t enough, the president requested a 16 percent increase in domestic spending in next year’s budget.”

Meanwhile, instead of seeking ways to cut spending, Congressional Democrats are seeking to get the administration to begin sending pandemic checks out on a monthly basis — as much as $2,000 a month to every adult and $1,000 a month to kids. As one cynical observer put it, “that’s certain to make a lot of voters happy; never mind that it’s likely to bankrupt us in the end.”

Cynicism aside, you have to admit that politicians offering free money can indeed appear to be an attempt to buy votes. Take the Governor of California, Gavin Newsom. He recently announced that he wants to send one-off $600 stimulus checks to nearly six million Californians as per what he calls “the biggest state tax rebate in American history.” You have to admit that it is a generous gesture on the governor’s part and that perhaps it is a coincidence that he’s facing a recall election soon and needs to convince the state’s voters that he’s really a good guy.

Share this article:
Subscribe
Notify of
guest
32 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
Dave Smith
Dave Smith
2 years ago

I miss having an American President in office. The utter disgrace infesting the Oval Office is the biggest threat to the survival of America ever.

Karen
Karen
2 years ago

I’m on Social Security and depend on it. You piece of crap Biden, you and your commie friends should move to China and leave us alone. See how you like it. You may want the power, but remember, it never lasts. Read your history books unless you got rid of them too.!

Dave
Dave
2 years ago

Here goes the merry-go-round.

Throw billions of printed dollars in extra unemployment comp at the public. Inflation. Get them expecting a bigger handout, and de-incentivize return to work. Overtime and raises to some that deserve nothig of the kind. More Inflation. Add Dem energy taxes to steer us to use/buy more expensive alt-tech. More Inflation.

Lookie there – the poverty level went up for some reason. Bigger hand-outs are needed!!!!

These people currently in power are not looking out for regular Americans. It could not be more obvious.

Kenneth D.
Kenneth D.
2 years ago

There are two plausible objectives of the Biden/Democrat Party reckless spending and pandering spree since he stole office.
1) To use the cowardly politician’s old trick of taxation by reckless spending and taxing business, the results of which ALWAYS are born by the end-user consumer through inflation and/or higher retail prices. This is an economic fact of life, as excessive spending always reverts to the last individual/group holding the bill.
2) To overwhelm and eventually implode the value of the U.S. Dollar as a viable global currency, which will pave the way for a universal and electronic currency by that can be totally controlled and monitored by a central government entity. It will be “sold” as a remedy for eliminating tax evasion, illicit drug transactions, counterfeiting, etc.
An added bonus with either or both of these scenarios is they will result in absolute and total economic control of the populous by the government. That is a every radical left globalist’s ultimate dream and freedom loving individual’s worst nightmare of biblical proportions.

Robin Walter Boyd
Robin Walter Boyd
2 years ago

A higher cost of living creates more impoverished citizens who must rely more on government welfare programs. This is one way to buy support for Socialist agendas.

Ralph S
Ralph S
2 years ago

If You’re on board with this Ship of State… be sure to paint an “X” on the side of the boat… so when it sinks… you’ll be sure to find it on the bottom!

LtCol John Murillo
LtCol John Murillo
2 years ago

Where is the criminal investigation of biden and the Chinese Communist Party billions paid out to biden and his family? Hunter’s laptop chock-full of criminal pedophilia, no wonder dementia-joe staggers about smelling children’s hair, and stumbles on stairs. He is not capable of directing anything including his own mouth and mind, pathetic elderly abuse. He was not elected but installed, winning only 509 counties, President Trump won 2634 counties, yet we are expected to believe that this decrepit senile idiot basement-dwelling biden received 12 million (16%) more votes than America’s first black President, 0bama did in 2008. We are not stupid and fraudulent Joe is illegitimate. His decrepit weakness is emboldening America’s enemies, criminals, anarchists, racists and Leftist activists (regime media). The Democrat party-of-hatred is responsible for injuring America, our citizens and our futures generations, all for hatred of President Trump. The destruction of historic statues, rioting, burning of businesses of the innocent, the hate group BLM, the modern-day Ku Klux Klan – Antifa, are all of the Left. Now they want to teach their racist hatred to our children in our schools through this fictitious “critical race theory.” America deserves justice, biden and kamel-a marched in handcuffs to their prison cells along with other election fraud perpetrators like Katie Hobbs (George Soros sycophant) of Arizona. January 6th Capitol protest was an FBI and CIA coordinated false-flag operation to falsely entrap and smear Trump patriots. We want our duly and legitimately elected President Trump back, our peaceful cities back, our honorable law-enforcement back, our secure borders back, our prosperity, employment and opportunity back, and we wouldn’t mind having $1.87 gal gasoline back too.

Felix
Felix
2 years ago

I cannot even describe the insanity of this regime!
Where and how will they get the money to pay for all their spending?
We the citizens of this nation need to act.
I know that a lot of conservatives do not support a Convention of the States, but short of civil war, this is the only way to put in check what the federal government is doing to completely destroy our country, contact your state legislators and push for them to join the 15 states already on board!

Carol
Carol
2 years ago

Welcome to Venezuela II !!!! As long as Marxists are in control, Amerika will continue down the path that other Marxist countries have fallen! When the moochers, leeches, and parasites can’t get their freebies cuz the economy collapses, you will see violence that makes those protests look like a family picnic! I pray for the young ones that haven’t been suckered into this very hateful and ungodly ideology! God is watching!

Kim
Kim
2 years ago

I just got back from grocery shopping. It’s Senior day at the local chain, which offers us over-60’s a 5% discount on the bill every Thursday, and, of course, I shop the sales for items I use. The credit card I used gives me an additional 5% cash rebate on groceries (this quarter). Another card gives a 5% discount on gasoline… If you don’t like to use credit cards, this is a great reason to do so. The categories change and you need to sign up each quarter, but it’s worth it. (The bills are paid off every month.)

Still…I’m shocked at how quickly prices are rising for pecans, cheese, fresh greens and vegetables, crackers, snacks, soap and lotion, gasoline. Thanks, Biden and Harris. I bet they’ll claim credit for the increase in our Social Security payments (“Look, look, we uh, [unintelligible] we’re giving you more…!”), even though Medicare premiums will increase even faster. And then watch the dems slobber over the additional taxes (federal income, capital gains, corporate, death) they’re waiting to hammer us with. Our energy company, a monopoly, sent a schedule of rate increases for the next 8 years!

Those who can least afford these increases are on fixed incomes or are still working, but in low-wage jobs. They don’t have a choice. They have to drive to work; they have to provide for their families.

We need to fix our gaze on 2022 and 2024 and vote them OUT! If we can get the conversation going on the future and not stuck in the past (yes, I’m still disappointed), I think we can win back the House and the Senate, and then the White House. The conservative narrative has rarely been so well-positioned to achieve this. Again, thanks Biden and Harris.

JOHN
JOHN
2 years ago

Why should he and his turds care? It has no effect on them!
Remember.. “Communism like Socialism is FOR The People, and NOT for the Communists or Socialists!” They make the rules that others HAVE to live by.

CoNMTX
CoNMTX
2 years ago

“The Biden Effect”? It’s the same as the “Satan Effect” since it is Satan who is running the show in Washington D.C. These Godless losers in the demo/globalist party can’t destroy America fast enough.

Hazegrey
Hazegrey
2 years ago

I think social spending is code for “Slush fund” as the next elections will be more difficult!

Bill on the Hill
Bill on the Hill
2 years ago

Make no mistake….This is Obama’s 3rd term & all of his miscreants, i.e. the Biden cabinet are working feverishly to bring this nation down economically… They are spending at levels unimaginable & it is getting close to the point where the gov’t computers will NOT have the ability to write checks, i.e. ” The Well Is Going Dry ” folks…Look at the entire picture with respect to what these evil people have been up too these past ( 6 ) months & they aren’t done yet!
( 50 ) EO’s written within days, on day ( 1 ) canceling the Keystone Oil Pipeline & shortly thereafter REMOVING the sanctions on the natural gas pipeline going into Germany from Russia…
Cozying up to Iran again & REMOVING the oil sanctions on them.
Funneling money to HAMA’s in Palestine & immediately putting Israel in harms way yet again…
US Bombings in Syria & Iraq again…
Calling all Trump supporters racist & extremist & now claiming we practice Jim Crow in the elections…The Biden administration fully supports the MARXIST theory of CRT & the 1619 Project to be taught in all of our schools from K -12 in preparation for further indoctrination entering colleges across this nation…The dollar is currently losing value at a rapid rate & this is wholly by design for the Globalist Reevaluation of currency, i.e. QFS we read so much about…
Add it all up folks, it is NOT good for the middle class, it is perfectly designed for the oligarchs, i.e. Biden’s, Clintons, Obamas, Bezos, Zuckerberg’s, Romneys, Cheney’s, & on & on it goes, currently running the s**t s**w…
If these INSURGENTS are not removed soon, we will NOT have a nation left, we will lose all of our freedoms, including ownership of property as in taxing us into obliteration & subsisting off of gov’t.
Bill on the Hill… :~)

John Bonds
John Bonds
2 years ago

How long until interest rates go up and stock market goes down??? That is when the S@#t will really hit the fan.

Art
Art
2 years ago

Inflation is a hidden taxation. What’s 5% or so here and there? Don’t worry Joey and the left will take care of you. They will show us the way to spend our way out of debt. LOL

Elysummers
Elysummers
2 years ago

What does he care, he doesn’t have to pay for gasoline – not that he couldn’t afford it. Inflation is meaningless when it doesn’t hit you in the wallet.

An older blonde women laughing in the kitchen with a grey haired man.
AMAC’s Medicare Advisory Service
The knowledge, guidance, and choices of coverage you’re looking for. The exceptional service you deserve.
The AMAC App on 3 different iPhone
Download the AMAC App
The AMAC App is the place to go for insightful news wherever you are and whenever you want.
Railroad worker with adjustable wrench on railway in spring in summer day
Vote here sign board placed near polling booth for showing direction to voters showing with copy space
Pro-life supporters holding a banner wlak in annual March for Life
Brandon Johnson for Chicago Campaign Logo with Woke stamp in red

Stay informed! Subscribe to our Daily Newsletter.

"*" indicates required fields

32
0
Would love your thoughts, please comment.x
()
x

Subscribe to AMAC Daily News and Games