Staff Reports
The U.S. Bureau of Labor Statistics, affectionately known as BLS to those in the know, recently dropped a big ol’ report that’s got Republicans rolling their eyes and muttering, “we told you so.” Because, despite what the Biden bunch and their Democrat cheerleaders will tell you, inflation is STILL a thorn in everyone’s side, and it ain’t going away anytime soon. Cue the eye rolls and exasperated sighs.
Why October's Inflation Report Is Anything But Good News
https://t.co/G0V5G4SzTn— Townhall.com (@townhallcom) November 14, 2023
According to the BLS, inflation hit a brick wall in October, remaining flat as a pancake month-over-month. But before you start poppin’ the champagne, hold onto your wallets, folks. Over the past 12 months, inflation has still managed to creep up a whopping 3.2 percent, sitting comfortably above the Federal Reserve’s target rate of 2.0 percent. And don’t even get us started on the Core CPI inflation, which excludes food and energy prices, because that bad boy shot up 0.2 percent in October, notching a 4.0 percent annual increase.
Now, Democrats will try to spin this data faster than a DJ at a disco, but let’s not be fooled. E.J. Antoni, an economist at the Heritage Foundation, took to the interwebs to lay down some hard-hitting truths. He let us in on the not-so-secret fact that inflation has been sneakily climbing for years and it’s definitely not “coming down,” no matter what Uncle Joe tries to tell ya. In fact, prices are up a whopping 17 percent since Biden waltzed into the Oval Office.
But hold onto your candy canes, folks, because the holiday season is upon us, and the price tags are scarier than a Halloween haunted house. American workers’ wages are out here lagging behind those skyrocketing prices, leaving folks feeling like they’re swimming against the current in a river of molasses. Real hourly earnings have yet to claw their way back to their pre-Biden glory days, all thanks to inflation’s relentless upward march.
And let’s not forget about the good ol’ one-two punch of inflation and reduced income. Employers, feeling the pinch, have resorted to trimming the fat, aka cutting back on workers’ hours. This has left folks with lower income and more stress come bill time. To top it all off, the Federal Reserve’s interest rate hikes are about as effective as a chocolate teapot, adding insult to injury. Thanks to all this economic mumbo jumbo, the typical American family is losing out on nearly $7,400 in annual income compared to January 2021.
And just when you thought it couldn’t get any worse, buckle up because the “Bidenomics” rollercoaster is far from reaching the end of the ride. With the Treasury still on a spending spree and inflation showing no signs of slowing down, it’s safe to say the storm ain’t over yet. Brace yourselves for a wallet-busting winter and the “most expensive Thanksgiving ever,” with heating bills and holiday staples set to cost an arm and a turkey leg.
So, while the Biden bunch may try to paint a rosy picture, the numbers don’t lie. Inflation is still the unwelcome guest at the party, and it’s here to stay as long as “Bidenomics” has a say in the matter.
