(TheDailyHorn.com) – Inflation is at its highest rate in 40 years. If the Biden administration doesn’t step up, it could lead to serious economic consequences and tragic impacts on Americans.
From January 2021 to January 2022, the Consumer Price Index shows inflation at a rate of 7.5%. The prices of all goods and services have jumped significantly. Yet, the administration has done very little to ease minds and show some sign of fixing the issue.
— Mr Bill (@MrBill_Runner) February 10, 2022
Inflation became an issue in beginning in March 2021, and federal projections claimed it was temporary. The president decided to operate under that assumption and wait out the situation. However, it didn’t fall off in the second half of 2021 as they thought. But still, the president didn’t take any meaningful action to help struggling Americans.
He focused on pushing his agenda and added billions of dollars to the deficit. He let the supply chain crumble and failed to swing the public to his side when he blamed corporate greed. He also relied on the narrative that higher wages would offset the inflation, but that didn’t happen either. As wages went up, prices increased even more, leaving people worse off than before.
Now, the Federal Reserve must step in to increase interest rates with a potential for multiple increases throughout the year. The Biden administration’s lack of attention to the problem is clear to the voters. People are suffering under this president, but he continues to bury his head in the sand. When will he begin to act? Will it take huge losses in the midterms to finally get him doing something to save Americans from financial collapse?
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