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Yesterday, the President spent most of the day touting his $1.2 trillion infrastructure bill. During his Build Back Better tour, he promised to spend more.
Joe Biden, Disconnected from Reality
Americans from coast to coast are facing rising prices at grocery stores and gas stations. Building supplies prices are rising with increasing shortages of goods.
Prices of consumer items increased by nearly 1 percent last month, with overall prices rising by 6.2 percent over the past 12 months, marking a 31-year high, reports BRIGHT editors (The Federalist).
IWF’s Patrice Onwuka writes on the proportion households spend: the lowest quartile spends 36% on food. That is twice as much as the middle quartile spends at 15%. But it also is four times the proportion of its budget that the top quartile spends at 8%.
Double Digit Price Increases
- eggs (11.6%)
- bacon (20.2%)
- beef (20.1%)
- fish (11%).
“Oil prices are at a seven-year high and gas prices are up 49.6% compared to this time in 2020.”
In attempting to deter criticism about historic inflation, Biden claimed in a statement that reversing this trend is a top priority.
Biden then claimed that his nearly $2 trillion Build Back Better Act “will ease inflationary pressures.” Former Treasury Secretary Larry Summers (Obama-era economic advisor) and White House Council of Advisers Chairman Jason Furman, however, debunked that.
Economy Weirdly Better
Biden also claimed that “there is no question that the economy continues to recover and is in much better shape today than it was a year ago.” BRIGHT editors point out how weird that statement is since last year no one seemed concerned about finding or affording a Thanksgiving turkey,
Democrat Sen. Joe Manchin talked about the fate of Biden’s next spending bill:
By all accounts, the threat posed by record inflation to the American people is not “transitory: and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.
The Urgency of a Photo Op
The President proclaimed his infrastructure bill “urgent” to pass. Biden, however, hasn’t yet bothered to sign it because, according to BRIGHT, he’s “waiting for members in Congress to return back to session for a bill-signing photo op. #Priorities.”
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