New Inflation Numbers Come Busting in Like the Kool-Aid Man, Completely Counter White House Narrative – Opinion

While January 6th will dominate the news cycle, it is likely that the following days will see more of the same. However there are many real problems out there. One of them is inflation, and May’s numbers have come busting in like the Kool-Aid man, completely countering the White House narrative.

You may recall that April’s inflation numbers saw a slight downturn from 8.5 percent to 8.3 percent. Although core inflation was still rising, the topline numbers led to the administration claiming that the pace of change had slowed. According to the White House, they had made progress according to their report.

This was not the case. May’s inflation rate hit a new high of 8.6 percent, the largest increase yet under the Biden administration.

American families are facing rising costs and inflation at an all-time high of 4 decades.

The Labor Department reported that consumer prices increased 8.6% from twelve months prior. https://t.co/1ygFq5ibSn pic.twitter.com/QDJKHHqmx4

— The Associated Press (@AP) June 10, 2022

Get ready for a lot more pain, because it’s obvious that the administration’s plan to tame inflation isn’t working. We’ve already seen interest rate hikes occur and wage growth slow. Inflation is still out of control.

Even though wage growth slows down, inflation reaccelerated. Since 2006, real wages have plunged weekly to their lowest point. pic.twitter.com/gp53tWeZjk

— Lisa Abramowicz (@lisaabramowicz1) June 10, 2022

If making money harder to get in conjunction with people making less of it isn’t making a dent, what is going to? This is the answer that most people don’t want to hear. Namely, that the hole has been dug so deep by the inept, senile old man in the White House that there’s no easy way out. Stagflation is real, and it’s here. These inflation numbers and negative growth in the economy last quarter were combined. That kind of malaise doesn’t just go away in a few months. It takes years to fix, as Japan’s lost decade showed us.

The worst part about the current state of affairs is that Biden will be in office for another two-and-a-half years. We need to be doing the tough things starting now, but does anyone think he’s going to do what it takes to actually bring inflation under control? You can only expect him to push for even more big spending, which will only increase inflation.

Last but not least, let me just say how absurd it is that Democrats believe Americans care about the January 6, 2016 hearings while they’re getting crushed like this. They are doing a great job with this strategy.