Biden takes another victory lap on inflation that Americans won’t buy
NY Post
On Wednesday, the latest Consumer Price Index report showed that inflation slowed slightly in April but prices continued to rise nearly 4% for the year.
President Biden took his 23rd victory lap on this issue, proclaiming that “fighting inflation and lowering costs is my top economic priority.”
But how should people judge a victory proclamation by a general that had pointlessly lost 20% of his army — the amount of purchasing power the dollar has declined since he took office?
Team Biden is pretending that the nation — and Biden’s re-election campaign — has made it out of the woods.
But the Labor Department reported on Tuesday that the producer price index is rising at a rate of 6% a year, a foreboding omen of future price hikes.
Biden has spawned the highest rate of food inflation since the Nixon administration but he scoffed when a CNN interviewer recently asked him about the 30% rise in grocery prices.