Bidenflation Strikes Again

Today’s inflation report shocked many economists, and no doubt had the “economic experts” inside the Biden White House reaching for the Maalox. Not surprisingly, Joe Biden got on a plane last night and left the country. (More on that below.)

While we were all bracing for a “hot” number, the 9.1% inflation rate was much higher than expected. Just for the month of June, inflation was 1.3%. That’s 15.6% on an annualized basis!

When adjusted for inflation, hourly wages fell 1% last month and are down 3.6% compared to last year. That means your paychecks are effectively smaller. It’s why most Americans now say they are worse off today than they were one year ago.  (Way to go, Joe!)

Biden’s record inflation is terrible news. It’s crushing seniors on fixed incomes. It’s busting family budgets. And it’s hurting working-class Americans. 

Here’s just one example. Last week, one of the largest aluminum mills in America announced it was laying off 600 workers. Why? Because it can’t afford the skyrocketing price of electricity any more. 

When businesses start to shut down because they can’t afford the power they must have to function (think farmers and truckers), that’s deadly for any economy. 

And, yes, Joe Biden did that!