Commentary: Biden Needs to Take the Blame for Inflation

Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and “ultra-MAGA” Republicans. The president said that his policies, and the nearly $7 trillion in spending he authorized, have nothing to do with inflation.

None of this holds up under scrutiny. While President Biden claims that corporations are ripping off Americans, the costs of their supplies have been increasing at a record rate. In reality, many companies that Biden claims are stiffing consumers have actually lost money because they don’t want to alienate their customers by raising prices too quickly.

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Commentary: Americans View the Accomplishments the Biden Administration Attempts to Celebrate as Catastrophic

If an administration deliberately wished to cause havoc on the border, to ensure fuel was nearly unaffordable, to create a crime wave, to spark 1970s hyperinflation, and to rekindle racial tensions, what would it have done differently than what Joe Biden has done? 

So is Biden malicious, incompetent, or a wannabe left-wing ideologue? 

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Majority of Americans Say They Are ‘Falling Behind’ Rising Cost of Living

The majority of Americans feel they cannot keep up with the cost of living as inflation and the price of goods continue to rise, according to new polling data.

A poll from NBC News asked Americans, “Do you think that your family’s income is … going up faster than the cost of living, staying about even with the cost of living, or falling behind the cost of living?”

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Jerome Powell Confirmed for Second Term as Federal Reserve Chair

The Senate voted 80-19 on Thursday to confirm Jerome Powell to a second term as Federal Reserve chair, even as inflation has hit record highs under his watch.

The 19 “Nay” votes came from 13 Republicans and 5 Democrats and included a range of Senators from Sen. Ted Cruz (R-Texas) to Sen. Bernie Sanders (I-Vt.).

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Inflation Is a Great Reason to Get an Abortion, Democrat Lawmaker Says

Democratic California Rep. Katie Porter said inflation and rising prices reinforced the importance of abortion on MSNBC’s “The Last Word” Wednesday.

Porter said inflation and abortion were closely tied together and that, as grocery and gas prices rose, people would realize the importance of controlling their family size through abortion.

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Commentary: Joe Biden vs. We the People

The Biden Administration last June unveiled its “National Strategy for Countering Domestic Terrorism.” Despite its anodyne-sounding name, the “national strategy” was anything but anodyne. The pamphlet represented the logical culmination of the Left’s cynical use of the January 6, 2021, U.S. Capitol riot as a means of ginning up large-scale, nationwide anti-Republican/anti-Trump voter sentiment.

The result, evinced again by Attorney General Merrick Garland’s disgraceful October 2021 memo directing the FBI to intrude on local school board meetings and crack down on anti-critical race theory parental revolts, has been a roiling cold war waged by the ruling class against us “deplorables” and our political “wrong-think.”

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Sen. Scott Ends Week of Sparring with Biden by Launching New Ad

After a week of sparring with President Joe Biden and the Biden administration, Senator Rick Scott (R-FL) launched a new ad that highlights his plan for the future of America.

“How do you destroy the economy?” Scott asks rhetorically in the ad. “Look around. Joe Biden and the ‘woke Democrats are doing it.”

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Inflation Slowed in April, but Prices Continued Their Steady Increase

Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.

For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.

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Commentary: Inflation Can’t Be Censored

An increasingly disturbing feature of American politics is the routine suppression of major news stories that reflect poorly on candidates favored by the Fourth Estate. The most egregious example in recent years occurred in October of 2020 when corporate news outlets and social media platforms colluded to bury a New York Post article on Hunter Biden. Fortunately, some stories just aren’t susceptible to such censorship. Inflation is a case in point. It can’t be hidden from the voters because soaring prices shout the bad news from every grocery store shelf and gas pump in the nation.

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Florida Democrat Gubernatorial Candidate Charlie Crist Says Biden Will Go Down as ‘One of the Best’

In a question-and-answer article with the Tallahassee Democrat, Florida Congressman Charlie Crist (D-FL-13) said President Joe Biden (D) will go down as “one of the best [presidents] we’ve ever had.” His comments come as he has become the Democrat frontrunner for the 2022 Florida Democrat gubernatorial primary.

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Fed Report: Inflation Passed on to Consumers, Will Continue for Months

Newly compiled data from the Federal Reserve shows that inflation is hurting businesses, costing consumers, and likely not going away anytime soon.

The Federal Reserve released its “Beige Book,” a report that compiles reports from “Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources” from the 12 Fed districts around the country.

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Poll Most Americans Agree on Who to Blame for Inflation

A majority of Americans now blame President Joe Biden for surging inflation after he attributed the crisis to Russia’s Ukraine invasion and the COVID-19 pandemic, according to a poll conducted by Public Opinion Strategies, which was commissioned by Americans for Prosperity.

The poll, which was conducted between April 12-18, found that 61% of Americans blame Biden for the widespread price increases, while 75% of respondents reported that inflation impacted their purchasing decisions over the last 12 months.

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Commentary: ‘Genocide’ Is Not a Throwaway Term of Abuse

Soaring inflation is leaving Americans battered and bruised—and not just inflation in prices. Inflation in rhetoric is also doing a number on the people of our republic.

We’ve seen it unfold with depressing regularity. Donald Trump was a “fascist dictator,” we were told. The Capitol riot was a “coup” and an “insurrection.” Climate change poses an “existential threat” to all life on earth. And, just this past week, after failing to get the legislative redistricting map he wanted from the state Supreme Court, Wisconsin’s Democratic Governor Tony Evers declared: “At a time when our democracy is under near-constant attack, the judiciary has abandoned our democracy in our most dire hour.”

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Consumer Prices Rise 8.5 Percent, the Highest in 40 Years

Newly released federal inflation data show that prices continue to rise at the fastest rate in four decades, continuing the trend of soaring inflation.

The Bureau of Labor Statistics released its Consumer Price Index, a key indicator of inflation, which showed prices rose an additional 1.2% in March, part of an 8.5 percent spike in the past 12 months.

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Reports: As Inflation Rose in 2021, So Did Americans’ Credit Card Debt

As inflation rose last year to a 40-year high, Americans’ credit card debt also soared, according to analyses published by the personal-finance website WalletHub.

In its Credit Card Debt study, Wallethub found that consumers racked up $87.3 billion in new debt in 2021. During the fourth quarter of 2021, debt increased by $74.1 billion, the largest increase ever reported, Wallethub notes. It was also a 63% larger increase than the post-Great Recession average for a fourth quarter.

By the end of 2021, the average household credit card balance was $8,590. “That’s $2,642 below WalletHub’s projected breaking point,” the report states.

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‘Gasoline Misery Index’ Details Direct Impact of Record-High Gas Prices

The “Gasoline Misery Index” from the Metro Business Daily Network details the direct impact record-high gas prices have had on consumers across the United States.

Since President Joe Biden took office, prices of gas and other goods and services have continued to increase, as many peaked after Russia’s invasion of Ukraine.

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Commentary: The Tax Increase That’s Hidden in Plain Sight

Americans have less money than they had last year — though taxes haven’t been raised. So what’s the problem? Inflation, which has increased at a 40-year high annual pace of 7.9%. It acts as a hidden tax because we don’t see it listed on our tax bills, but we sure see less money on our bank accounts.

In fact, inflation-adjusted average hourly earnings for private employees are down about 2.5% over the last year. This means a person with $31.60 in earnings per hour is buying 2.5% less of a grocery basket purchased just last year. “For a typical family, the inflation tax means a loss in real income of more than $1,900 per year,” stated Joel Griffin, a research fellow at The Heritage Foundation.

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Commentary: Biden’s Budget of Taxes, Taxes and More Taxes

Inflation is running rampant, federal spending is out of control, gas prices are at an all-time high and Americans are pessimistic on the future outlook of the economy. So what is President Joe Biden’s solution?

He has released a budget proposal that includes 36 tax increases on families and businesses totaling $2.5 trillion over the next decade. Alarmingly, this includes 11 tax increases on the oil and gas industry, taxes that will put a burden on households.

The budget doesn’t even include all the tax increases being pushed by Democrats because the budget omits the cost of tax increases within their stalled multi-trillion dollar Build Back Better Act. Instead of detailing these tax increases, the Biden budget includes a placeholder asserting that any new spending will be fully offset.

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Commentary: A Biden Recession Is Virtually Guaranteed After 10-Year, 2-Year Treasuries Spread Inverts as Economy Overheats from Rampant Inflation

Joe Biden

The spread between 10-year treasuries and 2-year treasuries, a leading recession indicator whose inversions have predicted almost all of the U.S. economic recessions in modern history, on March 31 inverted for the first time since Sept. 2019.

When the 10-year, 2-year spread inverts, a recession tends to result on average 14 months afterward, sometimes sooner, sometimes later. The one time there was a head fake on the 10-year, 2-year was in the mid-1990s at a time when inflation was much lower Visit Site than it is now.

As an aside, potentially the Sept. 2019 inversion might have ended up being a premature indicator, too, but then Covid and global economic lockdowns in early 2020 went ahead and ensured a recession even if one was not due. On the other hand, at that point it had been 11 years since the prior recession and so the business cycle was going to end sooner or later.

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Prices Are Still Rising Despite the Fed Saying Everything’s Under Control

The price of goods throughout the economy rose at its fastest level in decades despite assurances from Federal Reserve Bank Chairman Jerome Powell earlier this month that the central bank would get inflation under control.

The personal consumption expenditures price index (PCE) surged 6.4% in February on a year-over-year basis, the fastest pace since January 1982, the Commerce Department announced Thursday. The Dow Jones estimate projected core PCE, which strips out food and gas, would increase by 5.5%.

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Exclusive: John Solomon’s Trump Interview Takeaways

Neil W. McCabe, the national political editor of The Star News Network, sat down with John Solomon, the editor-in-chief of Just The News, to talk to the veteran journalist about his recent interview with President Donald J. Trump at Mar-A-Lago, his Palm Beach, Florida, resort.

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Exclusive: John Solomon’s Trump Interview Takeaways

Neil W. McCabe, the national political editor of The Star News Network, sat down with John Solomon, the editor-in-chief of Just The News, to talk to the veteran journalist about his recent interview with President Donald J. Trump at Mar-A-Lago, his Palm Beach, Florida, resort.

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Analysis: The Biden Admin’s Drastic Gas Price Increases Date Back to His First Day in Office

Person filling up red car with petrol/gasoline

pump prices have climbed throughout his tenure.

While Russia’s invasion of Ukraine has destabilized global energy markets, causing an historic supply crunch, high gasoline prices have been the norm throughout Biden’s first 14 months, federal data showed. Experts have blamed the high prices on the administration’s energy and climate policies disincentivizing domestic fossil fuel production.

Since Russia’s invasion, gasoline prices have increased more than 20%, from $3.53 per gallon to $4.24 per gallon, according to the Energy Information Administration. However, pump prices increased a whopping 48.4% between Biden’s January 2021 inauguration and Feb. 21, three days before Russian President Vladimir Putin ordered troops into Ukraine.

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Economists Expect Elevated Inflation as Projected U.S. GDP Plummets

Economists across the U.S. expect ongoing inflation as the growth projections for the U.S. economy have plummeted, according to a newly released survey.

The National Association for Business Economics released a survey of 234 economic experts Monday that highlights major concerns about the U.S. economy. The report found inflation ranks as a top worry for economists.

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The Republican National Committee Registering New Voters at Gas Stations as Prices Surge

Mobil gas prices

The Republican National Committee (RNC) launched a voter registration initiative at gas stations across the country, drawing attention to rising gas prices under President Joe Biden’s leadership.

“We are registering voters across the country who are tired of Biden’s Gas Hike!” the RNC said Monday on Twitter. “Coming to a gas station near you!”

The effort began with a Saturday event in Arizona, according to The Hill. “Arizonans are frustrated with paying the record-high gas prices we’ve seen recently, this is an issue that affects almost every single Arizonan,” said the communications director for Arizona’s RNC, Ben Petersen, according to The Hill.

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Commentary: Biden’s Handlers Are Preparing to Eject Him and Kamala

I sense a disturbance in the force. In fact, I’ve been feeling the tremors for a while. Back in January, I wrote a column for American Greatness called “The Coming Dethronement of Joe Biden.” In it, I noted that Biden’s appalling performance as president would sooner or later—and probably sooner, given the ostentatious nature of his multifaceted failure—lead to his removal as president. 

I should have added that it wasn’t Biden’s performance per se that would lead to his downfall. The problem, rather, was the way his performance was undermining his—and therefore his minders’ and puppetmasters’—political power. As Saul Alinsky, community organizer to the stars, noted, the “issue is never the issue.” Accordingly, the people who put Joe Biden in power—I cannot name them, but I know they are the same people who keep him in power—do not care about inflation, rising gas and food prices, COVID lockdowns or mask mandates, the porousness of our Southern border, the threat of war with Russia, or the myriad other issues that worry ordinary voters. I am quite certain, in fact, that the word “voters” brings a vaguely contemptuous smile to their faces.

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Fed Hikes, Higher Mortgage Rates Mark Consequences of Ongoing Inflation

Mortgage rates surpassed 4% for the first time since 2019 and the Federal Reserve announced a series of new rate hikes this week, two major shifts that mark the economic response to months of elevated inflation.

The Federal Reserve announced a 0.25% interest rate hike and said six more increases are on the way. Last week’s increase is meant to rein in inflation, but can have negative effects on economic growth. Meanwhile, mortgage rates are expected to increase along with the Federal Reserve rate.

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Americans’ Spending Slows Dramatically Amid Surging Inflation and Gas Prices

American’s spending slowed in February amid surging inflation and gas prices, the U.S. Census Bureau announced Wednesday.

Retail sales grew 0.3% in February, a significant dip from January’s 4.9% monthly increase, the Census Bureau reported Wednesday. January’s spending increase marked the largest jump since March 2021 after Americans received the final $1,400 government stimulus check.

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Wholesale Price Inflation Reaches Double Digits

The Producer Price Index (PPI), which measures the prices suppliers charge businesses and other customers, surged 0.8% on a month-over-month basis as of February as consumer demand continues to spur inflation, the U.S. Bureau of Labor Statistics (BLS) announced Tuesday.

The PPI grew 10% on a year-over-year basis as of February, the BLS reported Tuesday. Economists surveyed by Dow Jones estimated wholesale prices would increase 0.9% on a monthly basis in the latest report.

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Shrinking Food Supplies, Soaring Prices Could Trigger Global Unrest, Key GOP Lawmaker Warns

Rep. Austin Scott

With U.S. and world food prices set to soar due to inflation and supply shortages stemming from the Russian invasion of Ukraine, a key GOP lawmaker is asking the Pentagon to study the potential for conflict if the global food supply shrinks by 5%.

U.S. farmers will pay $300-$400 more per acre to grow crops this year due to inflation and costs associated with the war in Europe, Georgia Republican Rep. Austin Scott warned Monday on the Just the News TV show.

Shipping is another issue, as trade is throttled by war-related disruptions and tough economic sanctions against Russia.

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Central Bank Expected to Raise Interest Rates Wednesday

Person counting cash

The Federal Reserve is expected to raise interest rates after its meeting Wednesday to combat the country’s soaring inflation, Axios reported.

The central bank is believed to raise its target fed funds rate by a quarter percentage point from zero after the end of the two-day meeting ending Wednesday, Axios reported. The Fed’s decision will outline the bank’s monetary policy for the near future and determine whether the U.S. economy enters a recession or continues surging price hikes, according to Axios.

Inflation has soared to nearly 8% year-over-year as of February while unemployment stayed below 4%, indicating that the Fed has been behind the curve in its effort to address sustained inflation, Axios reported. Federal Reserve Chairman Jerome Powell is now reportedly tasked with fixing a delicate economy without crashing it despite a war in Ukraine and renewed COVID-19 lockdowns in China.

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It’s Not Just Inflation: Consumers Are Paying More Through Shrinkflation

inside of grocery store; close up of products in the aisle

Americans are seeing the real costs of inflation in their daily lives as they pay record high gas prices, significantly increased grocery costs, and suffer sticker shock at restaurants, hair salons and other places.

Restaurants are charging more, with some posting notices on their doors. Increased prices, they say, are necessary to stay open simply to cover their increased costs for cooking oil and other goods. Some restaurants post signs accompanying empty containers to show that while they’re not increasing prices, their portion sizes are smaller.

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Farmers Hit Hard by Price Increases as Food Price Spike Looms

Man in white shirt and jeans planting seeds in the ground of a garden

Goods and services around the country are becoming increasingly more expensive, but farmers may be among the hardest hit as inflation, supply chain issues, and Russia’s invasion of Ukraine are expected to send food prices soaring even higher.

That impact is being felt by farmers around the country.

“The cost of fertilizer is up as much as 500% in some areas,” said Indiana Farm Bureau President Randy Kron. “It would be unbelievable if I hadn’t seen it for myself as I priced fertilizer for our farm in southern Indiana. Fertilizer is a global commodity and can be influenced by multiple market factors, including the situation in Ukraine, and all of these are helping to drive up costs.”

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Inflation Expected to Get Worse This Year

Gas prices and inflation hit yet another high this week, raising more concerns about the impact on regular Americans and the future of the U.S. economy.

The Bureau of Labor Statistics Thursday reported that the Consumer Price index, a major marker of inflation, rose 7.9% in the previous 12 months.

“The 12-month increase has been steadily rising and is now the largest since the period ending January 1982,” BLS said. “The all items less food and energy index rose 6.4 percent, the largest 12-month change since the period ending August 1982. The energy index rose 25.6 percent over the last year, and the food index increased 7.9 percent, the largest 12-month increase since the period ending July 1981.”

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Inflation Soars to Another Four-Decade High

The Consumer Price Index (CPI) increased 0.8% in February, bringing the key inflation indicator’s year-over-year increase to 7.9%, the U.S. Bureau of Labor Statistics (BLS) reported.

The core price index, which measures inflation of goods less food and energy, increased 0.5% in February, the BLS reported. Food prices reportedly grew 7.9% on a year-over-year basis as of February, the BLS reported, and energy prices soared 25.6%.

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Commentary: Inflation Will Cost Democrats Dearly in the November Midterm Elections

The Democrats will suffer historic losses in the November midterms. 

This disaster for their party will come about not just because of the Afghanistan debacle, an appeased Vladimir Putin’s invasion of Ukraine, the destruction of the southern border, the supply chain mess, or their support for critical race theory demagoguery.  

The culprit for the political wipeout will be out-of-control inflation—and for several reasons.  

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Commentary: Seven Major Failures of the Biden Presidency

Joe Biden

With President Joe Biden set to deliver his first State of the Union address on Tuesday night, it’s a good time to ask: How has Biden done as president and what is the actual state of our union?

According to the American people, things aren’t going great.

A CNN poll in early February asked Americans what they thought of Biden’s presidency and what he’s done right since entering office Jan. 20, 2021.

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Another Key Inflation Indicator Surged to Highest Level Since 1983

woman in a grocery aisle with a mask and backpack on

A key inflation indicator increased to its highest level in 38 years while consumer demand remained strong despite soaring prices, the Commerce Department announced Friday.

The Commerce Department’s personal consumption expenditure (PCE) index grew 5.2% in January, exceeding the 5.1% Dow Jones estimate, the Commerce Department reported. The PCE is the Federal Reserve’s preferred measure of inflation, and January’s figure marks monthly the largest year-over-year increase since April 1983.

The PCE increased 0.5% on a monthly basis in January, the same pace as the previous three months, according to the Commerce Department. Including food and energy prices, overall PCE surged 6.1% since January 2021, marking the most annual growth since February 1982.

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Another Obama Economist Joins Public Chorus of Voices Disparaging Biden’s Handling of Inflation

Former Obama administration Treasury Secretary Steven Rattner is the latest high-profile Democrat to hit at the Biden administration’s handling of the U.S. economy.

In a “guest essay” for the New York Times on Thursday, Rattner criticized the president for the “talking points on inflation” he provided during a recent interview with NBC’s Lester Holt.

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Consumer Spending Surged in January as Inflation Reached Near 40-Year High

Consumer spending surged in January amid soaring inflation, the Commerce Department announced Wednesday.

Retail sales grew 3.8% in January, far exceeding the 2.1% Dow Jones estimate, the Commerce Department announced Wednesday. January’s figure represents the largest monthly increase since March 2021 and a significant snapback from December 2021 when sales decreased by 2.5%.

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Wholesale Prices Jump in January as Inflation Continues to Soar

Wholesale prices jumped a full percentage point in January and 9.7 percent over last year, the Bureau of Labor Statistics said Tuesday, as inflation continues its rapid rise.

“On an unadjusted basis, final demand prices moved up 9.7 percent for the 12 months ended January 2022,” BLS said.

That increase comes after a 0.9% increase in November and a 0.4% increase in December.

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Inflation Surges Far Above Projections

The Consumer Price Index (CPI) increased 0.6% in January, bringing the key inflation indicator’s year-over-year increase to 7.5%, the U.S. Bureau of Labor Statistics (BLS) reported.

The CPI remained at its near four-decade high throughout January, growing 7.5% on a year-over-year basis, the BLS reported Wednesday. Economists surveyed by The Wall Street Journal projected the index would rise around 7.2%.

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Migration from Blue States to Certain Cities Spikes Cost of Living There

The cost of living is skyrocketing in certain “migration destination” cities where those fleeing mostly blue states are landing, according to a newly released report.

Redfin released the analysis, which shows that cities like Atlanta, Phoenix and Tampa have seen higher rates of inflation than the country overall. According to the report, those increases are “double the inflation rates in San Francisco and New York, places people are moving away from.”

“Migration into those places is one reason for rapidly rising prices of consumer goods and services,” Redfin said. “Because of high inflation, including rising home prices, the financial advantage of living in what are now relatively affordable places is likely to diminish.”

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Commentary: Biden’s ‘More Inflation’ Economy Could Prove Fatal for Democrats

“No, it’s a great asset. More inflation. What a stupid son of a bitch.”

That was President Joe Biden’s hot mic description of Fox News’ Peter Doocy on Jan. 24 after he asked “Will you take questions on inflation then? Do you think inflation is a political liability ahead of the midterms?”

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International Monetary Fund Projects Weaker Than Expected 2022 Economic Growth for U.S. and China

The International Monetary Fund (IMF) cut its global economic growth forecast for 2022 on Tuesday, citing growing COVID-19 cases, supply chain bottlenecks and soaring inflation.

The IMF now projects global gross domestic (GDP) product to grow 4.4% in 2022, down from 5.9% growth in 2021, according to the IMF’s World Economic Outlook report published Tuesday. The IMF projected global GDP would reach 4.9% in its Fall report.

“The global economy enters 2022 in a weaker position than previously expected,” the report said, blaming “downside surprises,” including soaring COVID-19 cases and turbulent markets.

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Federal Reserve Indicates Interest Rate Hike Arriving in March

With both volatile markets and significant inflation in the mix, the Federal Reserve on Wednesday indicated that it may soon raise interest rates for the first time in more than three years.

“With inflation well above 2 percent and a strong labor market, the committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the body said n a highly anticipated statement following its meeting.

The Federal Open Market Committee added that the central bank’s monthly bond-buying will proceed at just $30 billion in February, signaling that the program could come to an end in March as the interest rate increases.

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