On Wednesday, the White House’s Jen Psaki trotted out a new talking point to try to obfuscate from the crushing inflation hitting Americans. In doing so, she asserted that inflationary measures were actually going down, which would be news to those still paying exorbitant prices for groceries and gas, among many other common consumer items.
What the press secretary was doing was a too-clever-by-half sleight of hand. Yes, the rate of growth in inflation from month to month had somehow slowed (specifically last December and January), though it’s still far higher than normal levels. But as I noted in my counter to her comments, the overall inflation rate continues to skyrocket.
And skyrocket it did for the month of February. The new inflation numbers have been released, and they clock in at an eye-watering 7.9 percent. That’s good for a 40-year-high and a new record for the Biden administration.
What does that number look like translated to the goods that Americans buy the most? It looks like an absolute house of horrors. In fact, that 7.9% number is incredibly misleading.
I don’t know about you, but I buy a lot of meat, gasoline, and utilities, and I’d guess so do most other Americans. That means the real inflation rate, as in what price hikes impact people the most, is somewhere closer to 20-30 percent. What an absolute disaster.
These numbers also put to bed Psaki’s new spin. The month-to-month inflation rate rose to 0.8 percent from 0.6 percent January to February. In other words, no, the rate of growth is not going down, and any attempt to assert that is disinformation.
As to the Biden administration, they are going to solve this problem by shoving through another $1.5 trillion spending bill in the next few days. So get ready for the inflationary measures to spike even higher. There is no end in sight because our leaders won’t allow there to be an end in sight.