Biden Claims Families Have ‘A Little Bit More Breathing Room’ After Another Dismal Inflation Report | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    President Joe Biden sounded a note of considerable economic optimism on Friday after the inflation metric most utilized by the Federal Reserve continued to increase.

    The Personal Consumption Expenditures Price Index rose 5.4% between January 2022 and January 2023, while the version of the measure excluding more volatile food and energy categories rose 4.7% over the same time horizon, according to data from the Bureau of Economic Analysis. Both figures surpassed analysts' expectations.

    Biden responded to the data release by claiming that "we have made progress on inflation, but we have more work to do." He touted efforts from his administration to reduce prices and said Republicans undermine the strength of the economy by opposing his spending agenda.

    "When I travel the country, I see optimism for this year and the years ahead. The optimism of families with just a little bit more breathing room thanks to our work to get workers back into jobs. The optimism of a record number of Americans applying to start a small business," the commander-in-chief said in a statement from the White House. "But the fight is not over. We must finish the job in transitioning to stable and steady growth that benefits all Americans, while laying the foundation for strong and shared growth for years to come."

    Critics of the White House say the claim is one of several misleading assertions from senior officials about a supposed recent decline in cost pressures. The most recent inflation report from the Bureau of Labor Statistics, which likewise showed continually elevated food and energy prices despite a lower headline inflation number, occurred one week after Biden said that "inflation is coming down" during his second State of the Union address.

    House Ways and Means Committee Chairman Jason Smith (R-MO) said in a Friday statement provided to The Daily Wire that the administration "has no plan to bring down inflation" but nevertheless seeks to implement more federal spending initiatives. "Families, farmers, and small businesses continue to suffer as a result of President Biden's radical partisan agenda, yet he insists he will not abandon it," he remarked.

    The response to the Personal Consumption Expenditures Price Index data comes one day after Vice President Kamala Harris said in a speech that the administration has "reduced heating and electricity bills so folks have more money in their pocket to buy things like school supplies, replace the dishwasher, or take a family vacation." The average cost of electricity has nevertheless increased 24% over the past two years, according to data from the Bureau of Labor Statistics, while the cost for utility natural gas increased 63% over the same period.

    Despite the optimism from the White House, many households indicate they are in a precarious economic situation. Some 50% of respondents to a Gallup survey said they are financially worse off compared to last year, while 35% believe they are financially better off. Low-income Americans were the most likely to report that they have been worse off: some 61% reflected pessimism about their current finances in 2023, an increase from 41% in 2022.

poll#162

In what may be the most divisive period in modern American History, even more divisive than the turbulent sixties due to today's lack of patriotism, consider what are the major catalysts causing so much of this calamity of conflict, and vote: What most instigates the division of America, on this day September 20, 2022?

  Racism within our society

  Sex realignment to the detriment of our society.

  Biden /Harris Wide Open Southern Border Policy for the Demographic Upheaval of OUR Constitutional Republic

  Rampant Crime in Democratic controlled cities, and the possible contagion elsewhere

  Covid Pandemic, and its mishandling at the political, and bureaucratic levels.

  The unresolved questions /allegation regarding the flawed 2020 General Election

  January 6th Riot or "Armed Insurrection", depending upon patriotic perspective

  Joe Biden as Divisive Leader; Ineffective and Corrupt Executive

  Failed Education Industry, from an overall perspective, regarding all levels of education.

  Propagandistic Media in complete conflict with the First Amendment's guarantee of Freedom of Speech, and the awesome responsibility of a Free Press..

  "Orangeman Bad!"

  Bureaucracy rushing to a behemoth size, its unjustified expense, and far too often overreach.

  The Weaponized Deep State for political purposes

  A secular ambivalence to all that is real.

  Record number of overdose deaths from opioids and now Fentanyl

  Biden Administration's disastrous Foreign Policy

  Bidenflation /supply chain failure inevitably evolving into stagflation and recession.

  "Ultra MAGA Extremists" freely speaking louder AND LOUDER!

790 total vote(s)     What's your Opinion?

poll#145

After one full year of the Biden /Harris Administration: Does Joe Biden have the intellectual capacity, and, or the energy to lead the United States of America through the mess that he predominately created ... in just one year?

  Yes

  No

  Unsure

959 total vote(s)     What's your Opinion?

poll#169

Considering how abjectly corrupt and civilly abusive the Left has become regarding the corrosive effect of their elected leaders; their entrenched and ruling bureaucracy; employing their failed Education Industry as Indoctrinators; their collusive private sector operators, such as the terminally discredited Legacy Media and Big Tech censorship of Free Speech: What will be the best course forward for hardworking Middle Americans, including the Patriot Class?

  Withdraw from society, go underground and plan for a resurgence when it is feasible to do so.

  Work within the confines of better policy by the People's government, once good sense and sanity is restored in the electorate at large, to achieve such.

  Are you a crazy, nut-job Insurrectionist? Everything is perfect within our plan to achieve our intended goals for the Socialist Left.

  Secession to form a true Constitutional Republic.

274 total vote(s)     What's your Opinion?