According to members of the Progressive-Democratic Party, it began in 2022. Take, for instance, the Progressive-Democrat Congresswoman from Pennsylvania, Chrissy Houlahan.
As inflation cools, it’s important to think about how far we’ve come since the crisis brought on by the COVID-19 pandemic and the invasion of Ukraine by Russia.
How far we’ve come:
At this time last year, due to the efforts of the Biden administration and congressional Democrats as we emerged from the pandemic, we were seeing strong economic growth, historically low unemployment, and large wage increases, particularly for low and middle-income workers.
What we were seeing at this time last year was the beginning of an Obama-esque slow recovery from the booming economy that already was expanding rapidly as we came out of the Wuhan Virus situation in the summer and fall of 2020 in that history that exists before this time last year.
What we are seeing since this time last year is the recovery to that latter half of 2020’s historic unemployment—for women, blacks, and Hispanics, especially—due to the recovery of jobs lost during the Wuhan Virus situation, and very few new jobs created.
What we are seeing since this time last year has been declining real wages in the face of Party-driven inflation as those wage increases—which Houlahan knows are only nominal, but chooses to elide—paled in the face of inflation. Only in the last month did nominal wage increases exceed inflation, and that’s far too soon to know whether this one time is the start of a trend or merely a one-off.
What we are seeing over the last two years is a widening of the wage gap between whites and minorities as that slow recovery and Party’s racist and sexist identity politics limit who gets back into those recovered jobs. That wage gap had narrowed significantly over the four years through 2020, as folks on the lower rungs—especially minorities and single mothers—actually got jobs (that historically low unemployment rate extant in 2020 and before) and had income. And their wages rose—nominally and in real terms—faster than did the wages of the middle and upper classes.
However, Americans were still experiencing high prices.
Yes, we are. And we will relative to our incomes for some years. Inflation may finally be coming back down—it’s still higher, though, than it was at the end of the prior administration, over two years ago—but as Houlahan admitted, inflation is a rate of price increase, it is not the prices themselves. The prices Party’s inflation drove up will not come back down.
One factor that contributes to those high prices in addition to overall inflation is the cost of energy. That has become even more expensive with Party’s open war on fossil fuel-based energy, and its effort to eliminate that industry altogether. They don’t care that energy is at the heart of the cost of production (and so at the heart of the cost of us ordinary Americans‘ purchases, especially for those of us on the lower economic rungs, below Houlahan’s middle class).
It’s certainly true that supply chain disruptions have contributed, also, to higher prices. However, the prior administration, and American businesses on their own, had already been working to revamp our supply chains to re-anchor them in more stable, more favorable locations. The disruptions of the barbarian’s invasion of Ukraine also have contributed. But that invasion was encouraged to start by the Progressive-Democrat-run Biden administration’s open timidity in the face of terrorists in western Asia and in the face of the barbarian chieftain in the Kremlin.
New Democrat, same as the old Democrat.