President Joe Biden (D) and his White House spokesmen have been bragging about what a strong economy we have.
Even CNN waved the BS flag at that. Here’s how strong our economy really is.
The Labor Department on Tuesday reported its consumer-price index rose 8.3% in August from the same month a year ago [albeit down slightly from the prior two months’ year-on-year inflation]
[C]ore CPI, which excludes often volatile energy and food prices, increased 6.3% in August from a year earlier, up markedly from the 5.9% rate in both June and July
Food prices continued to climb sharply this past month, rising 0.8% in August from July, as did those for new vehicles leapt 0.8%. Prices also rose last month for medical care, education, electricity, and natural gas
Inflation in energy cost is especially troublesome. That’s the price of heating and cooling our homes, our places of business, our schools, how we power our industrial facilities. The impact on our health and finances from that exacerbates our demand for/need for medical care.
That inflation is made the worse by the growth in wages that’s been occurring since inflation took off with Biden’s ascension to office (if not since his election). Wage growth had been at half the rate of inflation, meaning us Americans’ income actually had been shrinking relative to the prices we face. But last month, despite that 8.3%/6.3% inflation, our wages grew…not at all.
Median household income was essentially unchanged last year on an inflation-adjusted basis….
Our wage dollar buys ever less in the Biden version of a strong economy.
Biden and his Progressive-Democratic Party are either wholly unaware of the real economy us average Americans face, or they’re blatantly lying about the situation.
Meanwhile, they partied on the White House lawn the day those numbers were released, celebrating this wonderful news.
Remember their obliviousness or their dishonesty this fall.