REPORT: Biden’s inflation accelerates in August to fastest pace in 30 years
Biden has pumped trillions into the economy while paying Americans to stay at home.
President Joe Biden has made a number of poor economic decisions that has, well, led to people becoming poorer themselves.
His liberal economic agenda has led to a 30-year-record high for inflation, according to economic data released today.
“Inflation unexpectedly accelerated in August, as shortages of a wide range of consumer goods and services drove up prices,” Breitbart reported.
“The Personal Consumption Price Index for August increased 4.3 percent from one year ago, reflecting increases in the prices paid by consumers for both goods and services, Commerce Department data showed Friday. That is the fastest pace of inflation since January 1991,” the news site noted.
There are a number of factors clearly at play here.
First, Biden has pumped trillions of dollars into the economy, despite it being already hot thanks to built-up demand due to COVID shutdowns.
Second, the Biden-Harris White House has launched a war on American energy, which hits pocketbooks now and will continue to hit them.
Third, the expanding welfare state encourages Americans to stay at home instead of going back to work.
Finally, it is fair to bring up that Biden and his coronavirus team has caused unnecessary fear about COVID, especially since a largely effective vaccine has been free and widely available for basically all of the president’s term. This has likely held many healthy people back from pursuing jobs, leading to millions of job openings.
Do you think Biden has done a good job on the economy? Do you wish Trump was still president? Let us know below!