No one can ignore the inflationary scourge sweeping across America.
Even the Biden regime has been compelled to admit it. However, on the explanatory end, the Biden administration has attributed the inflationary crisis in America to Vladimir Putin’s invasion of Ukraine. Unsurprisingly, Democrats, who are on the ropes politically, are using the “Putin Price Hike” talking point to divert attention away from their misguided economic policies that have brought the US to this sensitive point in its economic history. They’re projected to take a beat down in the midterms and they’re to find a convenient scapegoat to score a political win.
RT highlighted the level of inflationary madness taking place in America. On April 12, 2022, the US Labor Department revealed that the consumer price index increased 8.5% in March over the course of a year. This increase represented the most pronounced year-over-year increase since 1981. The Labor Department report contended that the ongoing supply-chain shocks, rising demand, and soaring energy prices have largely contributed to the present bout of inflation.
Per statistics, the monthly increase was 1.2%, which was the most rapid increase since September 2005 and a stark acceleration from February’s 0.8% uptick.
As mentioned before, officials from the Biden regime are scapegoating Russia for America’s current inflationary woes. On April 11, Biden said that “I am doing everything within my executive power to bring down the Putin price hike.”
However, there are dissenting voices within the Democratic ranks. Namely, centrist Democrats such as West Virginia Senator Joe Manchin. He said to the Financial Times that “the Federal Reserve and the administration failed to act fast enough, and today’s data is a snapshot in time of the consequences being felt across the country.” In addition, Manchin declared that it is a “disservice to the American people to act as if inflation is a new phenomenon.”
In March, the US gasoline index surged by 18.3%. Gasoline prices have climbed upward by 48% in the past 12 months. Used cars prices have climbed upward by 35%, although they experienced a decrease in February and March.
From February to March, the food index grew by 1%. On a year-to-year basis, the food index rose by nearly 9%. Per the data, grocery prices have climbed upwards by 10%.
It’s time for America’s ruling class to wake up and smell the hot java: America’s inflationary crisis is the product of easy money and reckless regulatory and fiscal policies.
Putin has nothing to do with this.
The US needs to take a long, hard look in the mirror and realize that its problems are the product of bone-headed decisions made by American policymakers, not foreign actors.
