Democrats forgot something. When you spend three trillion dollars over an excessive four-trillion-dollar “regular order” budget, push debt over 30 trillion, kill half the energy sector – whether out of good intentions, ignorance, or to “buy votes,” inflation will sting. It does now.
Last data before Midterms show a trap door opening under Democrats, big time. Based on objectively indefensible macro-economic policies, pushed by Senate and House Democrats, Biden, Harris, and media mimickers, the Nation is in “free fall” toward a deep recession.
There is no mystery or speculation about this, despite denials – no surprise. This was predicted – including by AMAC – months ago. Democrats whistled past the graveyard with mass spending (trillions over revenue), ignoring reality. They tricked the media, but not The Economy Gods.
You cannot trick the market, not for long. What has happened is – even using a measure of inflation favorable to the government – Democrats produced a one-month inflation jump of one half of one percent, and 8.2 year over year, worst again in 40 years.
This is bad, but the reality is worse – and Americans are feeling it. Biden twice did a draw on our Strategic Petroleum Reserve – aiming to trick free markets into lower prices before November. It did not work, although it did reduce the Strategic Reserve to a risky low level, the lowest in nearly 40 years.
Never mind the Reserve is to keep us safe in wartime, not to meet a “political crisis” – of the Democrats’ own making – as a midterm rout looms. That is not why the Reserve was created.
Never mind that Biden’s thoughtless energy policy will drive oil and gas to prices not seen in the lives of most Americans, condemning many to cold – or worse – this winter, unable to afford basic home heat, let alone the costs of commuting.
Biden is hammering America’s seniors, hammering everyone on civilian or military, federal, state or private pension, on a fixed income, with any credit cards, mortgage, rent, variable interest rate loan, or need to commute to a job or educational institution. In short – everyone.
Never mind that the so-called Social Security COLA, or Cost of Living Adjustment, which is based on the third quarter of the preceding year, will not keep up with the escalating inflation rate. Last year, it was under six percent as inflation hit nine; this year, it is just over eight percent as inflation looks to hit double digits.
Never mind that Mr. Biden dumbly demonized America’s Middle Eastern allies including Saudi Arabia, while cozying to Iran, the top sponsor of terror, brutal repressor of human rights (kills thousands annually for dissent), and the world’s most vitriolic, radical Islamic regime.
After snuffing out US energy independence – which would have saved Americans this winter, also keeping gas and inflation down – he begged Saudi for oil, which they quickly rejected. He then asked them to delay production cuts until after the Midterms, a cravenly political act. They laughed at him.
Then, returning Biden’s compliment, they stuck it up his exhaust pipe, cutting oil, production, raising oil import prices, and condemning America. All this is stunning, since Trump brought Saudi to the verge of joining Mideast peace accords, much as Reagan supported them for peace. Now, we have a total loss – another example of Biden’s failed diplomacy hurting Americans.
Never mind that all this was utterly avoidable, that Trump’s team left America with a roaring economy, inflation under two percent, growth hitting five percent, record employment, job growth, wage growth – and across every demographic in America, minority, and majority.
One last reality check: The reported inflation rate is not – in fact – the one you feel, the one that counts. The way inflation measurement really works is that a “basket of goods” is the sample group. The problem is some things are disproportionately over and underrepresented.
So, in case you feel like your gas costs more than eight percent of what it did last year, you are right. Gas at the pump was an average of $1.98 a gallon on the day Trump left, now nearly $4.00 a gallon, nationally $3.91. Did prices dip a few cents two months ago? Yes. Change anything? No.
Real – broadly reported – numbers for things we need, especially seniors and those hit hardest, are shocking. And like everything else, the Democrats know the truth and will not talk about it. No accountability and no honesty in assessing the impact of their thoughtless policies on people.
Check this out. Real inflation, by way of examples, for “things that matter” are closer to what you feel. What is the real rate? Here are commodity references. Start with this: Inflation is up 13 percent since Biden took office yet only two percent throughout Trump. Does that matter? Um, yeah.
Now add this. For commodities, as nationally reported, you are looking at over 40 percent inflation for used cars and airline tickets, over 30 percent for home heating (likely to jump), 30 percent for eggs (likely to hit a dollar an egg), 26 percent higher this year for rent than last, roughly 15 percent for milk, coffee, chicken, bread, likely to climb.
So, when push comes to shove, words – especially lies and two-steps – do not buy much gas, groceries, or home heating oil. You might not have liked Trump’s style, might not have liked Reagan’s, but damned if they did not understand economics, life, and costs. This crowd is “out to lunch” – and when the bill comes due in November – it may be high, as it is for the rest of us.