Economy

SPIN BEGIN! Biden’s Chief of Staff Blames ‘Pandemic, Airline Tickets, Used Cars’ for Spike in Inflation

posted by Hannity Staff - 6.10.21

Ronald Klain -Joe Biden’s Chief of Staff- desperately tried to spin the narrative surrounding Thursday’s disastrous inflation report; blaming record-high prices on everything from COVID-19 to used car sales.

“Yes, it is true the prices for AIRLINE TICKETS and USED CARS were up a great deal in May of 2021 over where they were in May of 2020 — when everyone was coping with the worst of the pandemic!” posted Klain on Twitter.

 

New data released by the Federal Government Thursday is raising more fears over massive spending with documents showing the rate of inflation rose at the fastest pace since 1993.

“The consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according to Dow Jones. That’s the fastest annual pace in 28 years,” reports CNBC.

“It will be hot. It could be up to 5%,” said Diane Swonk, chief economist at Grant Thornton. “The worst of the heat is going to be the second quarter in terms of headline. It will be interesting to see what it looks like when you strip out the extremes. I think we’re still going to have a warm summer when you have surge pricing kicking in for everything from airfares to hotels.”

This is a developing story. Check back for updates.

CARTER, PART II: Consumer Confidence Falls, Inflation Rises, Retail Sales Flat in April, Gas Prices Jump

posted by Hannity Staff - 5.16.21

A series of critical problems plagued the Biden campaign in recent days, reminding many Americans of the hardships during the late 1970s under President Jimmy Carter.

Significant issues include the threat of inflation, lower-than-expected job growth, tensions in the Middle East, and gas shortages following a cyberattack against a pivotal energy pipeline in the southeast.

Despite the pipeline re-opening late Wednesday night, thousands of stations throughout the southern United States remain without gasoline.

“U.S. consumer sentiment deteriorated unexpectedly in early May as Americans grew increasingly concerned about rising prices,” reports Bloomberg.

“His team no doubt was prepared to unleash Biden to perform a little victory dance at the White House celebrating the stupendous number. But the show had to be hastily revamped when the actual tally came in nearly three-quarters-of-a-million jobs lower than expected; just 266,000 jobs created and unemployment unexpectedly rising to 6.1%,” reports Fox News.

“Today, there is more evidence our economy is moving in the right direction,” Biden said. “This is progress. This is a testament to our new strategy,” he said. “We’ve got work to do, to state the obvious, we have work to do.”

“U.S. Customs and Border Protection revealed Tuesday that migrant encounters jumped yet again this past April: over 178,000 in all, nearly a tenfold increase from 2020 and still above levels seen in the 2019 surge at the Mexico border,” adds Fox.

Read the full report here.

CARTER, PART II: Gas Prices Highest Since Obama Years, Jobs Stall, Inflation Rises

posted by Hannity Staff - 5.21.21

White House Press Secretary Jen Psaki told reporters this week the Biden administration will not change any “objectives, approach, or proposals” in the months ahead despite dismal economic figures and a stagnating recovery.

“It has not changed our overarching objectives, approach, and proposals,” said Psaki.

A series of critical problems plagued the Biden campaign in recent days, reminding many Americans of the hardships during the late 1970s under President Jimmy Carter.

Significant issues include the threat of inflation, lower-than-expected job growth, tensions in the Middle East, and gas shortages following a cyberattack against a pivotal energy pipeline in the southeast.

Despite the pipeline re-opening late last Wednesday night, some stations throughout the southern United States remain without gasoline.

“U.S. consumer sentiment deteriorated unexpectedly in early May as Americans grew increasingly concerned about rising prices,” reports Bloomberg.

“His team no doubt was prepared to unleash Biden to perform a little victory dance at the White House celebrating the stupendous number. But the show had to be hastily revamped when the actual tally came in nearly three-quarters-of-a-million jobs lower than expected; just 266,000 jobs created and unemployment unexpectedly rising to 6.1%,” reports Fox News.

“Today, there is more evidence our economy is moving in the right direction,” Biden said. “This is progress. This is a testament to our new strategy,” he said. “We’ve got work to do, to state the obvious, we have work to do.”

“U.S. Customs and Border Protection revealed Tuesday that migrant encounters jumped yet again this past April: over 178,000 in all, nearly a tenfold increase from 2020 and still above levels seen in the 2019 surge at the Mexico border,” adds Fox.

Read the full report here.

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