WASHINGTON — Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received.
The Labor Department said Tuesday that its consumer price index jumped 8.5% in March from 12 months earlier — the biggest year-over-year increase since December 1981.
[…]
The government’s report also showed that inflation rose 1.2% from February to March, up from a 0.8% increase from January to February.
[…]
According to AAA, the average price of a gallon of gasoline — $4.10 — is up 43% from a year ago, though it has fallen back in the past couple of weeks.
Oh, but it’s Putin’s fault. Yeah right, Senile Joe Biden.
This is partly due to Putin. That scenario pushed up gas prices more than what they were, and when gas prices go up it pushes up many other staples. But prices were inflating well before Ukraine. The question you have to ask is… why? Why are prices going up. This is a supply & demand issue. We are still seeing a supply shortage on many items as ports and transportation struggle. And we are still seeing labor shortages in many sectors. Wages are high and driving prices up.
This isn’t any more Biden’s fault than the pandemic was Trump’s fault. Both could have handled the situations better, but neither could prevent them. Even if Biden could get gas prices down to 1.50, it wouldn’t stamp out the inflation that was happening or has happened.
The D’s will more than likely lose at mid-term elections. But that is historically what almost always happens to a sitting president with a majority regardless of the state of the US.
If they can’t get the inflation under control in the next 2 years, the Dems will certainly lose the presidency. But I also thought that Trump was going to easily get re-elected because the economy was chugging along… and then the pandemic hit and thankfully royally screwed him. Things can change very quickly. If we get into a bigger war, I think that Biden would get re-elected because the American people will be hesitant to change captains in wartime. But I truly hope that we don’t go down that path.
>But I also thought that Trump was going to easily get re-elected because the economy was chugging along… and then the pandemic hit and thankfully royally screwed him.
And you’re proof perfect of Owen’s shot “but no mean tweets”. You moron.
If this was caused by Putin he was controlling Biden long before the Ukraine war kicked off. Biden is the one that cancelled leases and pipelines and generally conducted a war on fossil fuels since day one of his presidency.
I love the “but no mean tweets” dig. Describes lefty snowflake priorities in a nutshell. Myopic fools.
Jason. You call names because you can’t bring facts?
IMO the sitting president does *little to affect the overall economy, they can nudge it but there are too many global factors these days. Trump’s economy wasn’t good BECAUSE of him. He literally rode the Obama economy into his presidency and barely did a thing. Do you remember how many people were screaming that Obama wasn’t having a “real recovery” because the growth was below 3%. People on the right were attacking saying it should clearly be MUCH MORE than that. Worst recovery ever? And then Trump was elected and guess what… that growth STAYED at that percentage. I don’t think it ever got above 3% annually. But… crickets suddenly. Suddenly it was a GREAT ECONOMY and recovery. Hypocrites and spin men.
I disliked Trump for more than his stupid tweets. Hell, he was banned from most social media at the end, laughably (I hope you are all on TruthSocial, hahaha). I disagreed with his social policies. I disagreed with most of his foreign policies. I didn’t like that he lowered taxes and continued to expand the debt rather than bump up taxes and start to pay down the debt & reduce the deficit. I didn’t like that he was basically a 5th grade education and a constant liar. The pandemic just finally showed that he had no clue what he was doing and if he couldn’t verbally attack it, throw money at it, or come up with some stupid nickname for it, he couldn’t solve a problem. Man… I hope he runs again. He couldn’t pass any major legislation with a majority other than the before mentioned unneeded tax cuts. The only thing he improved during his administration was his golf game and his bottom line as he fleeced America for millions with his resort stays.
*I do think that the Bush auto bailout and the Obama Recovery Act helped swing the economy out of the late 2000’s recession quicker than it would have on it’s own.
I disagreed with his social policies. I disagreed with most of his foreign policies. I didn’t like that he lowered taxes and continued to expand the debt rather than bump up taxes and start to pay down the debt & reduce the deficit. I didn’t like that he was basically a 5th grade education and a constant liar. The pandemic just finally showed that he had no clue what he was doing and if he couldn’t verbally attack it, throw money at it, or come up with some stupid nickname for it, he couldn’t solve a problem. Man… I hope he runs again.
THANKS!! You saved me a lot of time writing up comments on Biden.
By the way, pal: inflation is caused by too much money chasing too few goods. You ID’d the ‘too few goods’ part, but forgot about Biden’s stimmie. I’m sure that was just a momentary failure.
As for Trump ‘not doing much,’ perhaps your memory doesn’t extend back to Trump shutting up that twit from N. Korea, or engineering a treaty between Israel and the Sauds (and other Arabs), or erasing EIGHT regulations for every new one created, or telling the oil companies to ‘drill, baby, drill’, or………….oh, yes, that tax cut for ALL Americans especially the middle class–accompanied by a tax INCREASE for the ultra-rich in blue cities and states.
Likely as not, the list of Biden accomplishments so overwhelmed your memory banks that the stuff Trump did just got shoved into oblivion.
Graduating from Wharton School with an Econ degree equates to a fifth grade education now? Does that go for all Wharton grads or just those named Trump? That’s a fifth grade education I’d wear with pride.
Merlin, you don’t understand. JonnyV’s credentials are SO MUCH HIGHER than Trump’s, you see. Just like those of LeeeeeeeeeeeeeRoy. Or even more.
All JV did was cry about me calling him names, while at the same time trying to insult the former President. That’s what makes him a moron.
Hey moron, there’s all kinds of data out there showing what and how the economy was better after Trump took office… from wages to unemployment to the stock market to poverty rates. You don’t understand those, that also makes you a moron.
>Merlin, you don’t understand.
You’re correct, I don’t understand the altered reality some folks live in. Don’t understand it at all.
Elon Musk is doing rather well with his Wharton education. So is Sundar Pichai. So is an incredibly long and distinguished list of others who have apparently struggled successfully to overcome that worthless Wharton education.
There are multiple reports from teachers and students at the time that Trump was a horrible student. And seeing as how it is some sort of “thing” lately with the right, lets see his SAT scores, or his transcripts there? Or did daddy throw enough money around to push him thru? I guess we won’t know, as he won’t share those things with us. He said himself that he didn’t get anything out of the school.
My credentials are just as good. I graduated UWM with an MIS degree. I have started (and currently run) 2 successful small businesses, work a 9-5, and do consulting in my spare time. I have yet to run a casino into the ground… but there is still time. I am only in my 40s. lol
Running two startup businesses, 8 hours/day.
No comment.
Just leaving this here for you JV. If you really want to compare educations and honesty between presidents.
https://www.youtube.com/watch?v=D1j0FS0Z6ho&t=4s
JohnnyV, before you ask about Trump’s college credentials, let’s see see President Sparklefart’s college records. (Err, Obama).
When you get that info, us know. Then we will ask for Trump’s info.
Dad29, yes I do run 2 startup businesses with a regular 9-5 as an IT Manager… AND do consulting on many weekends. The startups are both web-based and I hire a developer to do most of the programming while I do the soft side of the company (cust service, social media, & advertising). The consulting I do is with 1 company that pays me to build out & support their video production studio for broadcasting. I made about 60K on that last year (as a side-hustle), and the taxes are gonna suck in the next few weeks on it.
One of the startups is still losing money, but hope it will be in the black in the next 2 years. The other will only ever make a small profit every year, maybe 8-10k, it is more of a fun side-gig I do one night a week with my best friend and not meant to be a big deal. I bust my ass. But, I am happy and have fun. Plus being a dad of 2 kids, one with special needs.
So… feel free to take your snarky attitude somewhere else. Maybe post it on your blog so all 4 people can read it.
“Snarky”—-that from a guy who takes rumors about Trump and asserts them as fact.
When you own this blog, Mr. 9-5 Entrepreneur, you can feel free to toss me off.
Hey JV, I can respect your personal and work life, great job! What I don’t understand are these two:
“The question you have to ask is… why? Why are prices going up. This is a supply & demand issue. We are still seeing a supply shortage on many items as ports and transportation struggle. And we are still seeing labor shortages in many sectors. Wages are high and driving prices up.
This isn’t any more Biden’s fault than the pandemic was Trump’s fault. Both could have handled the situations better, but neither could prevent them. Even if Biden could get gas prices down to 1.50, it wouldn’t stamp out the inflation that was happening or has happened.”
You readily admit that the problem started before Putin’s war, but you really don’t see a relationship with denying new oil permits, shutting down the pipeline, all the new car regulations towards electric (with no infrastructure for charging stations) and other regulations against the fossil fuel industry – and an increase in gas prices?
Really? ‘Drill baby drill’, gas prices go down, ‘Shut down the oil industry’ gas prices go up. 5th grader grads can see that relationship. You really don’t see it?
And of course: “The pandemic just finally showed that he had no clue what he was doing and if he couldn’t verbally attack it, throw money at it, or come up with some stupid nickname for it, he couldn’t solve a problem. ”
This one I understand coming from any liberal’s mouth, but it still makes me laugh at you and cry for you at the same time. Operation warp speed and not sparking panic among the populace was a great plan. You might not call it original as the Obama Administration used part of it during the swine flu outbreak. Hundreds of schools were closed and nobody except the locals heard about it except as a single blurb here or there (Oh and the fast track vaccine was not a part of the dem plan. It took almost 3 years to come up with a vaccine for that one).
Curious that those same exact Dems thought it was such a horrible plan during an election year when a Republican is in office, no?