While the Biden administration claims that the U.S. inflation rate is only 3.4 percent, Senator Marsha Blackburn (R-TN) released a guide disputing that figure, with evidence showing that Americans are suffering far more than the administration is letting on.
“Inflation is a top concern for Tennesseans and Americans,” says a guide called “The True Cost of Bidenflation. “Under the Biden administration, inflation has hit its highest rate in 41 years, and prices across the board are up nearly 20%. Meanwhile, the administration touts that inflation is ‘only’ at 3.4%.
The guide says that the 3.4 percent figure is not an accurate tally because that figure only “reflects the percentage change in prices paid by Americans over the last
12 months.”
According to Blackburn’s guide, Biden’s cited inflation rate does not accurately reflect the massive increase in prices for everyday goods.
Gas prices have increased 55 percent since Biden took office, according to the guide, while energy prices are up 42 percent, food and rent are both up 21 percent and mortgage rates are at two decade highs.
“Economists across the political spectrum agree that massive spending packages passed by Democrats under President Biden have caused inflation to surge,” the guide says.
It also says that Tennesseeans are spending almost $ 1,000 per month more per month to live than before Biden took office and that the average household is spending $12,892 yearly to keep the same standard of living they had before the Biden administration. took over.
In the guide, Blackburn says the U.S. government needs to spend less money to get inflation under control.
“I’ve proposed slashing federal spending by 1%, 2%, and 5% for non-defense items to begin to restore fiscal responsibility within our government,” she said, adding that the government needs to “unleash American energy and innovation and reduce our dependence on foreign energy sources to help lower consumer costs.”
“More than three years have passed since President Biden took office, and Tennessee families are paying higher prices on everything from gas to groceries as a consequence of his failed economic policies,” Blackburn told The Tennessee Star Saturday. “President Biden and his administration have made a habit out of lying about inflation, but the nearly 20% increase in prices since he took office is a hidden tax on hardworking Americans who deserve to know the truth.”
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Pete D’Abrosca is a reporter at The Tennessee Star and The Star News Network. Follow Pete on Twitter/X.
Photo “Marsha Blackburn” by Marsha Blackburn.
Utter nonsense!!!
The one and only cause of “inflation’ is an increase in the money supply that exceeds the ability of the economy to increase the supply of goods and services. That is, in fact, the very definition of “inflation”. The price increases that everyone insists on calling inflation are simply one of the symptoms of inflation.
Anyone with even a rudimentary understanding of economics understands that when the supply of a commodity (e.g., money) goes up, the price (which is simply a measure of value) of that commodity goes down. And when the value of money goes down, then as sure as tomorrow’s sunrise, the prices of goods and services goes up.
When Biden and his fellow travelers (including more than a few RINOs) persist in spending trillions of dollars that the government doesn’t have, they are increasing the money supply at an excessive rate, and higher prices are the inevitable result. There may be a few companies engaging in price gouging, but 99.999% of the price increases we”’ve seen since Biden took office are the result of his excessive spending, supported and enabled by Democrats and spineless RINOs in Congress
I’ve often wondered how anyone can dumb enough to vote for Biden. Your willful ignorance as to the cause of inflation (increasing the money supply faster than the economy’s ability to increase the supply of goods and services) IS an example of the incredible stupidity that keeps the likes of Biden and his fellow travelers in office. And, BTW, minimum wages set at levels higher than the open market supports, hurt workers far more than they help them.
Marsha’a BIG LIE on inflation to blame it on Biden will not work to make her constituents too dumb to vote. Do you notice she doesn’t mention that Tennessee has one of the lowest minimum wages in the country currently at $7.25 an hour?
Companies price gouging the American consumer is not inflation. It’s Greedflation
Research the company, profits reports of the overpriced items you buy every day.
These companies are getting rich by screwing the American consumer . #MarshasCorpDonors