Any honest person sees the corporate-controlled media is in the back pocket of the Democrat Party.
There’s not much they won’t do to try and provide cover for Democrat politicians.
But Joe Biden just got some bad news that even the corporate-controlled media will have a hard time spinning.
The Biden economy is now on a three-month streak of inflation blowing beyond expectations as rising prices hammer Americans’ wallets.
In fact, according to the Consumer Price Index, prices rose 5.4% over the past year, nearly twice as much as the experts predicted it to rise.
Breitbart covered the news, reporting:
The Consumer Price Index rose 5.4 percent compared with a year ago, the Department of Labor said Thursday. On a monthly basis, the CPI rose 0.9 percent—nearly twice as much as expected.
Core inflation, which excludes the volatile food and energy categories, rose 0.9 compared with 12-months ago and 0.9 compared with May.
Economists had expected the Labor Department to report that consumer prices rose 0.5 percent in June compared with May, down a tick from the 0.6 percent initially reported in the previous month. The consensus forecast was for a 5.0 percent gain when measured against June of 2020, which would have been tied with May, the hottest reading since skyrocketing energy prices pushed up the index in the fall of 2008.
Of course, inflation is essentially nothing more than a “hidden” tax hike.
As prices rise, inflation perniciously takes away the purchasing power of the American people.
Only six months into the Biden administration they’ve already rammed through nearly $2 trillion in new spending. And yet Joe Biden and the Democrats are pushing for trillions more in new spending financed by the American taxpayer.
Democrats have yet to convince Republicans to openly force massive tax hikes on Americans to foot the bill.
Still Americans are starting to pay the true costs through inflation for all the “free” money the secretive Federal Reserve is printing out of thin air.
That will get worse with Bernie Sanders and other Democrats promising to pass AOC’s “Green New Deal” on top of a $6 trillion socialist welfare bill this year.
This is leading to more and more economists worrying that inflation will be a permanent part of American life from here on out unless things change.
Unfortunately, Joe Biden and the Democrats are pushing the pedal even further down with their trillions in new spending proposals.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.
