Biden, Democrat spending primarily to blame for runaway inflation that’s only going to get worse
12/17/2021 / By JD Heyes
Lots of people who allegedly voted for Joe Biden last year said they did so because they could no longer put up with Donald Trump’s demeanor and his ‘mean tweets.’
That shortsighted, superficial view of who they thought would actually be best to lead our country — a brusque but successful president versus a feeble, gaffe-prone career politician — is turning out to be the biggest mistake those voters have made in their lives.
And ours, too.
For Trump may have ruffled feathers, but here’s some of what he did for us:
— Controlled our borders
— Made historic peace deals, most of them in the volatile Middle East
— Kept Russia and China at bay with tough negotiations and a strong military
— Made America energy independent for the first time in decades
— Kept gasoline and energy prices down
— Kept overall prices down
Now that Biden’s been in office for less than a year:
— Russia and China are eyeing conquests (Ukraine and Taiwan, respectively)
— Gas prices are more than double
— Peace is unraveling in the Middle East again
— The U.S. -Mexico border is essentially wide open for human and drug traffickers
— The U.S. is becoming energy-dependent again by canceling much-needed pipelines and drilling projects
— The administration is spending money like a drunken sailor, which is driving up inflation to near-historic levels
Speaking of inflation, which acts as a hidden tax on all Americans, though it hits lower-wage earners the hardest (the very Americans Biden and Democrats claim to care about the most), it continues to skyrocket like it has since Biden took office, according to the Labor Department’s most recent figures, reports noted this week.
“Prices charged by businesses for goods and services purchased in the U.S. rose 9.6 from a year ago in November, their highest annual pace in records going back nearly 11 years, the Labor Department said Tuesday,” Breitbart News reported.
The final demand goods component of the Producer Price Index rose 1.2 percent compared with October. Compared with 12-months earlier, prices are up 14.9 percent. Prices on the services side rose 0.7 percent during the month for a 7.1 percent 12-month increase,” the outlet continued.
The Producer Price Index, or PPI, measures the average movements of prices received by domestic producers for goods and services sold both in the U.S. and exported. The Consumer Price Index measures prices paid by U.S. households, excluding exports and including imports. Goods and services sold to households and businesses that are their expected end-users are known as “final demand.”
The PPI report also includes data on prices for intermediate demand, those goods and services sold to businesses expected to utilize them to make products for end-users. The report breaks down prices between four stages of production, with the earliest stages selling into the latter stages. Stage one is the furthest out in the production process while stage four is the last stage before goods are sold to businesses that distribute them for final demand.
Economists and economic experts alike are blasting Biden and Democrat spending — trillions just this year, just since Biden took over in January — as being the primary culprit behind this massive hidden tax on American earners.
“The Biden pay cut just got more severe as surging inflation reduces Americans’ real wages and living standards,” Alfredo Ortiz wrote at RealClearPolitics last week.
“I’ve been warning about the inflationary effects of a Biden presidency since the beginning of his term, and I’m sad to see my predictions are so accurate,” Ortiz, president and CEO of the Job Creators Network, added.
“Ordinary Americans and small businesses are suffering enormously due to these spiraling prices, reversing the vaccine-induced economic recovery. And the plans of the administration and congressional Democrats would only make matters worse. The pandemic is waning, but the Biden epidemic is worryingly still in its first quarter,” he noted.
Our country is being destroyed from within, just as the former Soviet Union predicted would happen.
Read more stories like this at Collapse.news.
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Tagged Under:
Bidenflation, chaos, Collapse, consumers, CPI, dollar devaluation, economic collapse, economic damage, economy, fiat currency, hidden tax, Inflation, Joe Biden, Money Printing, PPI, producer index, risk, White House
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