An economist says “American families are having to eat the rotten fruit from the tree of government overspending” after the U.S. Bureau of Labor Statistics reported on Wednesday that the consumer price index, a key measure of inflation, rose 0.2% in June.
“It’s great news for the consumer that inflation has slowed dramatically from 40-year highs, but we’re still in terrible shape,” EJ Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, told The Daily Signal in a written statement. (The Daily Signal is The Heritage Foundation’s news outlet.)
“Real weekly earnings are down 4.6% since January 2021 and prices are up 16% over that same time. Annual inflation has outpaced earnings gains for 26 of the last 30 months,” Antoni added. “Even more worrisome is the fact that inflation has settled at 3%, which is about 50% higher than either the two percent target or the 1.8% average we saw from 2009 until the Biden administration.”
We’re in a Recession
ALL on B I D E N !!!!
Biden and all of his crooked democrat administration just figure “let them eat cake”.