Republican officials have once again responded to the inflation level, as it has now reached another high that shatters records from the last forty years, by expressing their extreme distaste with how Biden and his administration have been handling the economy.
An increase of about 8.6% was seen in the Consumer Price Index over the timespan of May 2021 to May 2022, as reported this past Friday by a report from the U.S. Bureau of Labor Statistics. This recent news comes just a short time after we have seen the gas prices rise up to $5 per gallon on average across the United States with many states seeing much higher rates.
Seemingly in response to the horrible news about the economy, President Joe Biden hurled blame at Russian President Vladimir Putin and stated to legislators to force the more wealthy Americans and corporations “pay their fair share” via taxes. Many Republicans seem to agree with the majority opinion of the American people on the subject which rightfully hangs the blame for the issues squarely around the neck of Biden himself.
“Inflation reaches another 40 year record high. Gas is $5 per gallon. Parents still can’t find baby formula,” stated Rep. Jim Jordan (R-OH). ” Joe Biden’s America.”
Inflation reaches another 40 year record high.
Gas is $5 per gallon.
Parents still can’t find baby formula.
Joe Biden’s America.
— Rep. Jim Jordan (@Jim_Jordan) June 10, 2022
“America continues to struggle with runaway inflation,” stated Mike Pompeo, the former Secretary of State. “And all we hear from Washington DC is shifting the blame. How about focusing on the problem and offering real solutions that work?”
America continues to struggle with runaway inflation. And all we hear from Washington DC is shifting the blame. How about focusing on the problem and offering real solutions that work?
— Mike Pompeo (@mikepompeo) June 11, 2022
“Inflation is definitely NOT transitory. A dollar at the start of Biden’s disastrous admin is now worth less than $0.90,” highlighted Sen. Ron Johnson (R-WI). “Biden’s inflation tax is costing families $5,000/yr, hurting seniors on fixed incomes, and reducing the value of savings and retirement funds. Thanks, Joe.”
Inflation is definitely NOT transitory. A dollar at the start of Biden’s disastrous admin is now worth less than $0.90.
Biden's inflation tax is costing families $5,000/yr, hurting seniors on fixed incomes, and reducing the value of savings and retirement funds.
Thanks, Joe.
— Senator Ron Johnson (@SenRonJohnson) June 10, 2022
“Inflation is through the roof, hitting 8.6% over the past year, the highest in 4 decades,” added Sen. Ted Cruz (R-TX). “It’s no surprise Democrats are trying to distract from their miserable failures with primetime political stunts,” he exclaimed seemingly in reference to the recent January 6 hearings.
Inflation is through the roof, hitting 8.6% over the past year, the highest in 4 decades.
It’s no surprise Democrats are trying to distract from their miserable failures with primetime political stunts. https://t.co/P1Gnge2RHI
— Ted Cruz (@tedcruz) June 10, 2022
Despite what the American people and the Republicans say, the current administration still only wants to see the economy via rose-colored glasses.
“What I’m trying to say to you is that the economy is in a better place than it has been historically,” stated White House Press Secretary Karine Jean-Pierre. “And so, we feel, here at this administration and other experts as well… we feel that we are in a good position to take on inflation. We are in a good position to really start really working on lowering prices.”
This comment was made despite the fact that the economy has contracted at an about 1.5% annualized rate throughout the first quarter of 2022. A recession is defined by the U.S. Bureau of Economic Analysis as the economy going through a pair of consecutive quarters showing negative growth.