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September 15, 2022
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President Biden continues to insist that the economy is growing like crazy, and his policies are to credit for it, despite the fact that we are in a recession, but only if you use the definition of “recession” that until he came along was the universal definition of “recession.” He also claimed that there was no inflation in July, just because for once, inflation didn’t increase from the previous month, mostly because of a drop in gas prices that’s largely due to draining our strategic petroleum reserve and prices being so high that most people curtailed their driving (they’re still about a dollar higher per gallon than when Biden took office, though.)

However, this morning, stock prices took another plunge as Biden’s own Labor Department undercut his economic fairy tales by reporting that inflation rose more than expected in August. The consumer price index rose 8.3% from one year ago and 0.1% from the previous month. Economists had predicted an 8.1% yearly rise and a monthly price decline of 0.1%. Gas prices are down, but food prices continue to rise. Grocery prices were up 0.7% just since July, and restaurant prices rose 0.9% from the previous month.

https://www.foxbusiness.com/economy/inflation-rose-august-prices-gains-slow-remain-near-record-high

To put that into perspective, 8.3% of your salary is about one-twelfth of it. So if you’re making the same pay now as you did last year, higher prices have robbed you of a full month of your yearly pay. If you buy the same things this year as you did last year, inflation has made it like trying to pay for it with 11 months’ worth of pay instead of 12 months’ worth.

With perfect timing, Biden had planned to use today to stage a victory lap for passing the Dems’ ironically named “Inflation Reduction Act,” which doesn’t reduce inflation at all but does put hundreds of billions of dollars in their green cronies’ pockets and hire 87,000 new IRS auditors to shake it out of our pockets.

The fact is that any job “growth” that Biden is patting himself on the back for came from either reopening the artificially shut-down economy or the boom in red states that are defying his policies. Imagine what the economic numbers would look like if they only took blue states into account!

Related: A new survey by the Job Creators Network Foundation found that 57% of small business owners believe we are already in a recession. Only 30% rate the economy as good or excellent. And 70% oppose adding 87,000 more IRS agents, because they know they’re not just going to target billionaires; they’ll be going after small businesses.

https://hotair.com/headlines/2022/09/12/small-business-owners-recession-is-already-here-n495850

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Comments 1-6 of 6

  • R Reedy

    09/25/2022 10:03 PM

    Is Mesa County in Colorado the only one with forensic audits of their recent elections?

  • Denise Elizabeth Miller

    09/25/2022 09:35 PM

    So this Tina Peters, I wonder if the FBI is interested in her and who she's spoken to because of the possible deletion of the 2020 election files??

  • Michele Tierman

    09/19/2022 03:33 AM

    Seems like America is living in the third term of Obama! During Obama’s time in office yes there were jobs but they were more that were part time with NO BENEFITS! Also people are having to work 2,3 & 4 shifts of work to offset the cost of living!
    Savings are dwindling down & cost are sky rocketing!
    Nevada gas/diesel is high $4 to mid $5 right now! It was almost going under $2 when President Trump left office!

  • Jack Killough

    09/19/2022 12:37 AM

    Keep up the great work, Mike! I read your email/website every day. I look forward to the scripture.

  • Bob Machen

    09/18/2022 11:38 PM

    Regarding those 87K new IRS employees Mike, my thought is that given Biden's penchant for weaponizing his agencies, none of those new employees will ever belly up to a desk, or even have any computer skills. I see them more as "enforcers" of his will.
    And.... it goes without saying that Joe Biden isn't running anything, he's simply the figurehead, much like the King of England.

  • jerry

    09/18/2022 10:45 PM

    As biden continues to insult Real American citizens the real facts are one has to fill a 5 gallon bucket of cash to to buy grocery for a family. The gas prices are a bit down from 5 weeks ago great talking point its Still 1.80 over priced from late 2019 . The downward price of gasoline talking point is like putting lipstick on a mud covered sow. Taxpayers will work 5 months to pay its taxes before the money it earns belongs to the taxpayer if this administration continues its full4 years it will take 7 months to pay its taxes than maybe the taxpayer can do what? Hopefully it can buy a double wide mobile home.