Inflation stays on the rise, and August was even faster than expected as the consumer price index hits 8.3%. Although gas prices have gone down in recent months, overall prices of goods continue to rise. As the economy faces a recession, consumer price indexes hitting new highs spells bad news for the economy. Just moments
The oil, which was ordered to be released throughout the year from the Strategic Petroleum Reserve by President Joe Biden, was meant to relieve the pressure on pump prices. Instead, it sold to foreign nations including China, according to a report from Reuters. Biden ordered the release of 30 million barrels on March 1st, another
The blame game came just after the devastating economic news that the inflation rate had once again increased, dashing Democrat hopes that the rate was stabilizing after last month’s short-lived sideways movement. Despite insisting inflation was his “top economic priority”, instead of looking for solutions President Joe Biden seemed content to simply blame everyone else.
Senators Joe Manchin (D-WV) and Jon Tester (D-MT) have turned the call for domestic oil production bipartisan. The two were questioned by CNN’s Manu Raju in the Capitol where they emphasized domestic production over new sources of foreign imports. “We shouldn’t be advancing other countries who don’t share our values,” Tester said. “So I think
President Joe Biden has banned imports of Russian oil and natural gas, sending gasoline prices soaring even further amid ongoing inflation. Biden attempted to pin already elevated gas prices on what he’s calling the “Putin price hike”, undoubtedly trying to get ahead of the inevitable public blowback as midterm elections come into play. According to
The Biden Administration will join other governments to collectively deploy 60 million barrels of crude oil from strategic reserves in order to counteract the increased prices caused by Russia’s war. The US will contribute half the total amount, or 30 million barrels, while Europe and Asia make up the rest. According to the Washington Examiner:
Today at 4:00 PM EST, President Joe Biden will give only the second solo formal press conference of his presidency. His first solo White House presser was on March 20th of 2020. He is expected to answer questions on the future of COVID mitigation, inflation fears, nuclear threats, Russia, and Donald Trump. Please join us
New inflation numbers handed Biden’s economy horrible news, and now he is doing damage control. According to Townhall: Shortly after the data was published, President Joe Biden released a statement attempting to spin the situation, deflect responsibility and call form even more spending. “Today’s numbers reflect the pressures that economies around the world are facing
Inflation did not get any better in October. In fact, it got worse. The Consumer-Price Index rose at a 6.2% annual rate. The rise was driven by pandemic-related supply shortages and strength in consumer demand. Worse yet, the core price index which excludes food and energy prices rose at 4.6% in October. In September it rose at
Empty shelves? Delays in the supply chain? Paying extra for goods? Expensive heating bills? Short-staffed businesses? Too bad, just deal with it. Just deal with the chaos is the new answer to economic incompetence by the left. According to Town Hall: In a new op-ed for the Washington Post, writer Micheline Maynard is shaming Americans
