Tag: inflation

Biden Admits Inflation Reduction Act was NEVER Intended to Reduce Inflation

PSA:  Joe Biden is still the president of the United States. Biden has been hiding on a beach in Delaware ever since his disastrous debate with Donald Trump that hard-launched Kamala Harris as the Democrat nominee. Biden is speaking off the prompter once again and revealing hard truths that have been concealed from the public. The Inflation Reduction Act, the largest spending measure in American history, was never intended to reduce inflation.

“We should have named it what it was!” Biden said at an event in Westby, Wisconsin, where he unsuccessfully attempted to tout the success of Bidenomics. The president referred to the Inflation Reduction Act as “the most significant CLIMATE CHANGE LAW ever,” adding, “by the way, it is a $369 billion bill, it’s called the–we we we should’ve named it what it was.”

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Extreme Gaslighting: Here Are 7 Signs That The Mainstream Media Is Flat Out Lying To Us About The Economy

How many times have you heard the mainstream media tell you that the economy is doing just great in recent months?  Personally, I have seen the word “booming” used over and over again to describe the economy, and it makes me sick.  The level of gaslighting that we are witnessing right now is off the charts.  Millions of Americans are sleeping in their vehicles, thousands of businesses are failing all over the nation, and most of the country now believes that the American Dream is no longer attainable. 

If this is what a “booming” economy feels like, I would hate to see what would happen during a “recession”.

I totally understand why the mainstream media is gaslighting us.  They want us to believe that everything is fine so that we will vote a certain way in November.  They have an agenda, and they are pushing it really hard.

But what they are telling us simply does not match up with reality.

The following are 7 signs that the mainstream media is flat out lying to us about the economy…

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Democrat “economist” appears on CNBC and claims Trump caused 8 trillion bucks of the 35 trillion bucks in national debt – BIG FAT LIAR!!!!! 2 trillion bucks out -ignores C19 and debt interest entirely

Bharat Ramamurt thinks that the US government is not raising enough money in taxes and is especially targeting 60,000 Americans earning more than 1 million bucks a year with a 24% capital gains tax. You know how socialists hate anyone with money or who earns it. I wonder if he knows how many of these are Democratic Party donors?

He also states that discretionary spending, excluding defence, is at a very low level of 16% and uses this as an argument for tax increases. He claims that plans to increase taxes will not impact 100 million Americans – so presumably it will impact 240 million other Americans.

One big fat lie he brazenly told was that under Trump, 8 trillion of the US’ 35 trillion national debt was raised during Trump’s term. So, let’s fact check that.

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Kamala Harris’s Inflation Reduction Act: A Costly Flop That Fails Middle-Class Americans

The Inflation Reduction Act’s Promises

The Inflation Reduction Act (IRA) of 2022, championed by Democrats, promised to fix our economy with incentives like a 30% tax credit for energy-efficient appliances, solar panels, and windows. But these solutions come with sky-high upfront costs that average American families can’t afford.

Instead of addressing inflation, this bill benefits the wealthy, who can use these credits, while ordinary households face tighter budgets. Rather than easing financial pressure, this legislation represents costly government overreach that fails to deliver real relief.

The Reality of Inflation and Economic Impact

Despite the Inflation Reduction Act’s promises, inflation has remained a significant issue. In July 2023, consumer prices increased by 3.2% compared to July 2022. Although inflation showed signs of slowing down, with a 2.9% increase from July 2023, the rate remains below its peak of 9.1% from June 2022. Overall, it’s clear the Act hasn’t quite done the job it was supposed to.

Kamala Harris has played a key role in advocating for the Inflation Reduction Act, promising that the legislation would combat rising inflation and ease financial burdens on American families. Despite these assurances, the Act has not delivered the expected results.

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Thanks To The Cost Of Living Crisis, U.S. Household Debt Has Soared To The Highest Level Ever Recorded

Our entire economy is fueled by debt.  In fact, if going into more debt was suddenly banned the U.S. economy would instantly hit a brick wall.  For the vast majority of us, our lifestyles simply cannot be funded by what we actually make.  So we use debt to bridge the difference, and this has particularly been true during the cost of living crisis.  Total household debt has now reached a grand total of 17.8 trillion dollars, and we continue to pile up more with no end in sight…

A quarterly report published this month by the Federal Reserve Bank of New York on household credit and debt found that between the first quarter of 2021 and the second quarter of 2024, credit card debt surged 48.1% while household debt — which includes mortgages and auto loans — rose by 21.6%.

In dollar terms, credit card debt rose from $770 billion in early 2021 to $1.14 trillion in the most recent quarter, while household debt increased from $14.64 trillion to $17.8 trillion in the same period.

I did not realize that credit card debt had risen by more than 48 percent since the first quarter of 2021.

That is extremely alarming, because it indicates that millions upon millions of households are literally living on the edge of financial disaster.

And the fact that delinquency rates have been climbing just underscores how serious things have become…

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The Trajectory of Emergency Lands on Price Controls

The US’s serious bout of inflation – mirrored in many countries in the world – was set in motion in the first week of March 2020, like much of the rest of our ongoing emergency. This was a fortnight before the lockdowns were announced, indicating that much was going on behind the scenes. The Federal Reserve turned on a dime to provide enormous liquidity to the system, just days following the CDC’s briefing of the national press of coming lockdowns, about which the Trump administration seemed then to know next to nothing. 

The fiscal and monetary fun lasted only so long. Following the inauguration of the new president, the first round of bills started coming due, and that has continued until the present, rapidly wiping out the value of the stimulus payments that seemed to have made everyone suddenly rich without working. 

Only after two years and after some 10 months of resulting declines in purchasing power, along with supply chain breakages that left so many goods in shortage, did the Fed start to worry and raise interest rates from zero percent. That was presumably designed to sponge up the excess liquidity that had been injected directly to the veins of economic life. The Fed’s action slowed but did not end what they had unleashed to deal with the virus that was widely advertised as universally deadly even though every specialist knew otherwise. 

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“Price Gouging”: Basic Groceries Cost 21% More… Because of Biden-Harris Regime Policies

Amid reports that Kamala Harris will announce her first policy position on Friday – an attack on “greedy” grocery companies with a plan for price limits – there’s bad news for American consumers about their grocery costs.

Harris’s plan, reported by multiple outlets on Thursday, said her idea is to pursue a “price control” scheme, a tactic that repressive governments often pursue to try to make their economies look better.

It is the Post-Millennial that documented, “Americans are experiencing the consequences of increased grocery prices under the economic policies of the Biden-Harris administration. The cost of food has not been this high since the Carter administration.”

The report said the cost for “basic,” “food at home” products is up 21% since Biden and Harris took over the White House.

Inflation also remains a top concern among voters this election year, with 77% seeing it as a “very important issue.”

“Grocery prices have risen significantly under Harris’s time in the White House, despite the White House’s attempts to minimize the impact of recent price increases. Harris was instrumental in the legislative agenda that resulted in this outcome. Her tie-breaking votes in the Senate were instrumental in the passage of trillions of dollars in expenditure, which many economists believe contributed to the inflation crisis, Breitbart News reported.”

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21 Facts That Joe Biden Doesn’t Want You To Know

It takes a lot of gumption to go on television and repeatedly lie to more than 300 million Americans.  I honestly don’t know how Joe Biden does it.  I suppose that after you have been lying for your entire career, lying comes as naturally as breathing does.  Sadly, there are still millions of Americans that are falling for his lies after all this time.  Biden would like for us all to believe that the economy is “booming”, that the southern border is under control, that our communities are safe, and that Ukraine is going to win their war against Russia.  Our entire society is literally crumbling all around us, and Biden and his minions have brought us to the brink of global war.  I am entirely convinced that he has been the worst president in U.S. history, and that is really saying something.

Ultimately, Joe Biden is just another slimy politician that is trying to save his job.

I get that.

But come on man, how can anyone actually believe the nonsense that he is shoveling?

There are a few numbers that Biden can cherry pick to try to make himself look good, but here are 21 facts that Joe Biden doesn’t want you to know…

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As Inflation Takes Its Toll Americans Set to Get Smaller Social Security COLA in 2025

America’s seniors face a financial squeeze in 2025, with Social Security increases lagging behind rising costs of basics like food and housing.

This comes as Democrats spend billions on illegal immigrants, raising questions about budget priorities.

The Senior Citizens League (TSCL) projects a 2.63% cost-of-living adjustment (COLA) for Social Security in 2025. This translates to roughly $45 more per month for retirees.

“It’s not enough,” says Shannon Benton, TSCL’s executive director. “Seniors need more to cover rising prices on everyday items.”

Let’s look at the numbers:

– 2024 COLA: 3.2% (about $59 more per month)
– 93% of seniors say this increase didn’t cover their rising costs
– Many report monthly expenses rising by $185 in 2023

This gap is causing real problems.

Benton notes growing “food insecurity” among seniors. Many struggle to pay for basics like heating and cooling.

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Bidenomics: 27% of Americans Say They Skip Meals Due to Rising Cost of Food

27% of Americans say they skip meals due to the rising cost of food.
39% say they skip meals to make house payments.

Unusual Whales reported:

39% of Americans say they’ve skipped meals to make housing payments, per Clever Real Estate survey.

And among millennials, that figure rose to 44%. Among Baby Boomers, it was 20%.

Meanwhile, Housing affordability in the US is near all-time-lows, per $GS.

In November, nationwide, households need six-figure incomes to comfortably afford the typical home for sale, according to a report by Redfin.

Last month, the nation’s home buyers needed to make about $107,000 annually, up from about $74,000 a year earlier, to afford a median-priced home, according to Redfin. That’s an increase of nearly 46%.

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