Erick Erickson suggests that the only message Trump should have for the next ninety days is that "MAGA means Make Affordable Groceries Again."
The only message Trump should have for the next ninety days is that MAGA means Make Affordable Groceries Again.
— Erick Erickson (@EWErickson) August 4, 2024
There is nowhere to hide from the consequences of President Joe Biden's economic policies. Basic commodities are drastically more expensive now. A slight cost of living increase periodically is an economic norm, but prolonged inflation is not. The strain (or tax, a more appropriate term for this subject) on the macro economy by inflated prices would be difficult to quantify.
REMINDER: Americans are paying more for just about everything because of #Kamalaflation
— House Republicans (@HouseGOP) August 4, 2024
📈 Home insurance is up 52.9%
📈 Eggs are UP 38.9%
📈 Gasoline (all types) is UP 48.7%
Republican vice presidential nominee Sen. JD Vance calls the consequences induced by high inflation a "national tragedy."
It's a national tragedy that the Kamala-Biden inflation is making it harder for Americans to put food on the table for their families.
— JD Vance (@JDVance) August 4, 2024
If you work hard and play by the rules, you deserve an economy where things are affordable. President Trump will end this affordability crisis. pic.twitter.com/nylOkwtUSv
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The Consumer Price Index is an economic indicator that can be used to gauge inflation. It is a figure published on a monthly basis by the Bureau of Labor Statistics that measures the price increase of goods and services in the economy. The latest overall CPI reading is 3 percent, the recorded increase from June 2023 to June 2024. The Federal Reserve continues to state that the target goal for inflation is 2 percent. There are to date 41 annual CPI recordings during President Biden's tenure, and only two of those are less than 3 percent, the first two months of his presidency. Of those 41 recordings, 7 are 8 percent or higher; 12 (a calendar year) are 7 percent or higher; 17 are 6 percent or higher; 21 are 5 percent or higher; 26 are 4 percent or higher.
The high inflation occurring in the Biden economy is horrible, as are its consequences. High inflation persists because of failed economic policies. Democrats are currently empowered with more legislative ability than Republicans and have been so empowered (including all legislative ability for two years) since President Joe Biden took office, but they do not attempt to apply working solutions to remedy what is a disaster. They push spending, spending, and more spending. That push continues, despite egregiously high inflation. If high inflation is too much money chasing too few goods and services, it makes sense that cutting spending is a method of inflation reduction.
Democrats push tax increases, despite the effects of high taxes trickling down to all consumers, employees and employers. Tax increases do not reduce inflation. Democrats push for more regulations, despite the economic hinderances caused by an already bloated regulatory environment. More regulations do not reduce inflation.
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