Tag: economy

Biden’s plan to boost inflation

And they say liberals have no sense of humor. Faced with record inflation and terrible poll numbers, Democratic leaders say they’ve reached a deal for even more taxes and spending. Get this, they’re calling it the Inflation Reduction Act. Ha! 

We can only imagine that Sen. Joe Manchin said yes because he thought it was a joke. Certainly the American people won’t be laughing. The bill would increase taxes through various so-called “reforms” and “loophole” closures — which really means more IRS audits on the little guy.

The spending will go to subsidies for ObamaCare, which has proven it can’t survive without them. And hundreds of millions in subsidies for solar and wind power, which also can’t survive without them. 

They call it a bill to fight climate change. It’s transferring taxpayer money to Democratic-backed companies that would otherwise fail.

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Average American worker down $3400 in annual income since Biden took office

The average American worker has lost $3,400 in annual income since Biden took office in January 2021.

Since Biden’s inauguration, the cost of living, including prices at the grocery store and prices at the gas pump have steadily risen. While Biden seeks to blame the COVID-19 pandemic and Russian President Vladimir Putin for the state of the economy, Americans enduring hardship have had little to fall back on.

Biden’s economic challenges were compounded even further with the release of this month’s Consumer Price Index report, which surged to 9.1% year-over-year in June.

The increase was significantly higher than previously predicted by economists, marking the CPI at its highest level since November 1981, according to the Bureau of Labor Statistics on Wednesday.

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