Thursday, April 11, 2024

Inflation never went away - Washington Examiner

In addition, continued inflation has illustrated the painful fact that the effect of increased prices is cumulative. When inflation slows, as it did after peaking at 9.1% in mid-2022, prices still go up. A politician — say, Joe Biden — can make “inflation is going down” a campaign mantra when prices are still, in fact, going up. “Inflation is not subsiding. It is rising again,” conservative economist Stephen Moore said on Fox Business on Monday, before the new numbers came out. “Look at all of the indicators.”

This is obviously terrible news for consumers. A recent Fox News poll asked the basic question: “Are you better off or worse off financially today than you were four years ago, or about the same?” Fifty-two percent said they were worse off, 22% said they were better off, and 26% said about the same. Given today’s inflation numbers, the worse-off majority is even more worse off now.

Politically, it is more bad news for Biden, whose massive, never-before-seen spending policies contributed to the growth of prices. The Fox News poll found that the economy, broadly defined, is the most important issue for voters in 2024 — 61% of respondents said it was “extremely” important to their vote. And much of Biden’s campaign pitch is that “Bidenomics” is working for the public. Wednesday’s news strongly suggested that is not the case.


Byron York.

We're going to have our Argentina moment, but not yet evidently.

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Don't cry for me, Joseph Biden.

Posted by: dearieme | Apr 11, 2024 12:10:45 PM

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