Just released is the March Consumer Price Index. It measures inflation, and shows how fast it’s rising. America’s economy is heading in the wrong direction. Actually, we’re going in the wrong direction with a number of indicators but let’s focus on the economic side for now.
March’s number was 8.5 percent.
Consumer Price Index #CPI #inflationNumbers for March were shocking and amazing: Mar-toMar’s annual rate for all products rose 8.5% in March, an increase of 1.2% compared with February’s 0.8%. Core rate (less energy and food) increased 0.3%, compared with 0.5% in Feburary, 6.5% for the past 12 months. BLS graph pic.twitter.com/zdNfnOLwzP
— Gary R. Evans (@PITraders) April 12, 2022
This morning, the White House tried to mitigate this news release by giving a preemptive spin. Yesterday’s story was also covered by CNBC.
The Biden administration is bracing for Tuesday’s key consumer inflation report to show that the prices Americans pay soared in March, as Russia’s assault on Ukraine caused energy prices to jump.
White House press secretary Jen Psaki said Monday that the Labor Department’s previous report — which showed prices rising at a dramatic rate in February — failed to include the majority of the jump in oil and gas costs caused by the Kremlin’s unprovoked invasion.
“We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” Psaki told reporters.
“We expect a large difference between core and headline inflation,” she continued, “reflecting the global disruptions in energy and food markets.”
Jen Psaki deserves credit for this phraseology. It was stated that the number expected to be released was Extremely high would also be a correct way to describe middle-class Americans’ blood pressure at seeing how fast prices are rising across the board. This is because the White House still claims that there is a Putin price increase. Joe Biden also makes Jimmy Carter seem competent when it comes to economics.
My colleague. Mike MillerRedState wrote the following yesterdayBiden’s Hypocrisy Reaches New Heights in Blatant Effort to Spin the Economy Both WaysHis entire administration is to blame for everyone except 1600 Pennsylvania Avenue’s current crew, which is garbage spin.
From his article…
While I will not again point out the evil of Vladimir Putin being responsible in the Biden oil crisis, the Biden economic crisis or any other Biden-related crises, please.
A final note on the student loan suspension. It affects 41,000,000 borrowers with more than $1.3 trillion total debt. According to estimates from Education Department, it has already cost taxpayers over $100 billion. I had no problem with Trump’s student loan moratorium during the pandemic, and I’d bet a dollar he would have ended it months ago if he were still in the White House, given that his intent was valid — but the pandemic has long passed.
Let’s call a spade a spade: Biden is fully aware of the far-left demand for the cancellation of student loan debt. Biden is far too chicken-crap for him to agree or disagree. This is the truth.
Now we have weak-kneed Biden. He tries to be both on everything and nothing, which is a sad reality. He waffles, he equivocates, he lies out of both sides of his face — all because he doesn’t want to tick off the so-called “moderate” wing of the Democrat Party, but sure as hell wants to placate the radical left, led by the erstwhile bartender and her clueless Squad.
The talking heads in Washington DC and around the rest of the country who are currently claiming that Joe Biden’s presidency is Obama’s third term must seriously be ticking off Barack Obama. POTUS 44 did not have such a high level of inflation. We had slow growth under Obama but the C.P.I. Inflation numbers weren’t running at such a high rate that it was threatening the country.
But yeah, it is Putin’s fault.
Just in case anyway is wondering, this economic debacle is not the Russian President’s fault, but this sure as hell is: Trump Is Being Betrayed by Anyone Who Says They Support Both Him and Putin’s Invasion.
I think we can safely say now we know why our beloved White House Press Secretary had it leaked a couple of weeks back that she would be leaving her job as president Puddin Brains’ spokesperson to take a job at MSNBC. With inflation running at this rate, she needs a pay raise just to afford to live in the high-flying style she’s accustomed to.
It’s a great gift for her.
It is bad for the rest.
Enjoy your time replacing Maddow, Jen.