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Mission Accomplished: Biden Claims Victory on Inflation… as Prices Continue to Rise; Kamala Cheers: ‘You Did It Joe!’

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By Breitbart. President Joe Biden on Thursday defended his economic policies as data showed consumer prices continued to climb in October.

“It will take time to get inflation back to normal levels – and we could see setbacks along the way – but we will keep at it and help families with the cost of living,” Biden said in a statement.

The Labor Department’s consumer price index rose by 0.4 percent from September. The Consumer Price Index (CPI) is up 7.7 percent year-over-year. . .

Biden spun the news as positive, declaring the it was “a much-needed break in inflation at the grocery store as we head into the holidays.”

He urged patience, declaring that “we are seeing progress in getting inflation under control.” (Read more from “Mission Accomplished: Biden Claims Victory on Inflation… as Prices Continue to Rise” HERE)

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Kamala Harris Flatters Joe Biden After Midterm Elections: ‘You Did It Joe!’

By Breitbart. Vice President Kamala Harris celebrated Democrats’ strong performance in the midterm elections, despite their likely losing the majority in the House of Representatives.

Harris traveled to an event in Washington, DC, with Biden and first lady Jill Biden to thank volunteers and supporters for their efforts during the election.

The Vice President began her speech gushing over “our one and only President Joe Biden” praising his efforts during the election.

“You did it, Joe!” she said, bursting into laughter, presumably referring to the popular internet meme featuring the Vice President congratulating Biden on the results of the 2020 election. (Read more from “Kamala Harris Flatters Joe Biden After Midterm Elections: ‘You Did It Joe!’” HERE)

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Joe Biden: American Women ‘Showed up and Beat the Hell Out of’ Republicans

By Breitbart. President Joe Biden boasted Thursday that American women who supported abortion “beat the hell out of” Republicans in the midterm elections.

“As I said, women in America made their voices heard, man,” Biden said during a rally in Washington, DC, referring to the Supreme Court decision to overturn Roe v. Wade.

He also referred to Justice Samuel Alito who wrote in his opinion that “women are not without electoral or political power” and said that women on both sides of the abortion issue could use the democratic process to change abortion policies.

“Well guess what?” Biden bragged. “You showed up and beat the hell out of them.” (Read more from “Joe Biden: American Women ‘Showed up and Beat the Hell Out of’ Republicans” HERE)

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Biden’s ‘Let-Me-Give-You-The-Facts’ Tweet Gets Instant Fact-Check From Twitter

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President Biden on Friday was fact-checked by Twitter for inflating the number of corporations that were making billions.

In a tweet, purporting to give his followers “the facts,” the president asserted that 55 corporations made $40 billion in 2020 and “paid zero in federal taxes.”

The tweet included context added by readers, noting that Biden’s Inflation Reduction Act imposed a minimum tax on corporations with average pre-tax earnings greater than $1 billion.

It noted that of the 55 corporations mentioned by President Biden, only 14 had earnings greater than $1 billion and would be eligible under Biden’s tax law. (Read more from “Biden’s ‘Let-Me-Give-You-The-Facts’ Tweet Gets Instant Fact-Check From Twitter” HERE)

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Biden’s Energy Depression Is Nigh

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What will skyrocketing energy prices mean for U.S. consumers this winter? Seniors, the poor, those living paycheck to paycheck will suffer most. But all will suffer.

The effect of these increases — the lack of trickle-down economics — seems pretty obvious. Unless someone powerful gets this administration to sweep the deck of climate radicals, people will needlessly die. All will suffer.

On his first day in office, President Biden shut down the Keystone XL pipeline, closed Alaska’s reserves (ANWR), canceled offshore leases, and imposed massive new regulatory burdens on firms that distribute clean natural gas and petroleum products that contribute to every aspect of American life.

When gas prices skyrocketed earlier this year, the administration began draining the Strategic Petroleum Reserve to historically (and dangerously) low levels. This has temporarily kept prices in check, but only because of the midterm elections. After the midterms, if the radicalized EPA isn’t reined in, we should prepare for $8 gas, minimum. If Democrats retain power, we are in for a succession of long, dark winters.

If left unchecked, this “progressive” administration will touch off — needlessly — a second Great Depression.

(For more from the author of “Biden’s Energy Depression Is Nigh” please click HERE)

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Stacey Abrams Elicits Fierce Backlash After Suggesting Abortion a Fix for Inflation Struggles

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Georgia Democrat Stacey Abrams, who is running for governor, said during a television appearance Wednesday that more abortion access was a solution to combatting the nation’s crippling inflation rate, a remark that prompted widespread backlash from Republicans.

Abrams was asked on MSNBC’s Morning Joe:

While abortion is an issue, it nowhere reaches the level of interest of voters in terms of the cost of gas, food, bread, milk, things like that. What can a governor, what could you do as governor to alleviate the concerns of Georgia voters about those livability, daily, hourly issues they’re confronted with?

Abrams replied:

Let’s be clear. Having children is why you’re worried about your price for gas. It’s why you’re concerned about how much food costs. For women this is not a reductive issue. You can’t divorce being forced to carry an unwanted pregnancy from the economic realities of having a child.

(Read more from “Stacey Abrams Elicits Fierce Backlash After Suggesting Abortion a Fix for Inflation Struggles” HERE)

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‘The American People Won’: Biden Celebrates ‘Inflation Reduction Act’ as Market Plummets Over August Inflation News

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President Joe Biden celebrated the passage of the “Inflation Reduction Act” by hosting an event at the White House Tuesday, the same day the Bureau of Labor Statistics released a report showing inflation had continued to rise in August, causing markets to plummet.

“This bill cut costs for families. Helped reduce inflation at the kitchen table, because that’s what [people] look at — how much of their monthly bills they have to pay out for their necessities,” Biden said in a speech delivered outside the White House, thanking West Virginia Senator Joe Manchin for voting for the bill.

“This bill alone is going to lower the deficit by $300 billion over the next decades” by lowering the cost of prescription drugs subsidized by the government, he added, saying the “American people won.”

The Bureau of Labor Statistics report, released Tuesday, showed that the Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August when compared to the same month last year and increased 0.1 percent from July. (Read more from “‘The American People Won’: Biden Celebrates ‘Inflation Reduction Act’ as Market Plummets Over August Inflation News” HERE)

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Fed Raises Interest Rates Again — Here’s How It Affects Your Wallet

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The Federal Open Market Committee (FOMC) announced Wednesday that it is raising the federal funds rate by 75 basis points, bringing the target range to 2.25% to 2.5%. This marks the fourth rate hike of this year.

The Federal Reserve previously raised interest rates by 75 basis points in June, marking the largest rate hike since 1994. It also raised interest rates by 50 basis points in May and by 25 basis points in March. And more rate hikes from the central bank are likely on the horizon.

“Recent indicators of spending and production have softened,” the Federal Reserve said in its statement. “Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.”

If you want to take advantage of interest rates before they rise further, you could consider taking out a personal loan to help pay down high-interest debt. Visit Credible to find your personalized interest rate without affecting your credit score. . .

Inflation surged in June to a new 40-year high, marking the fifth time it’s broken that record this year. Because inflation remains high, the Federal Reserve will likely continue raising rates in an attempt to bring it back down. (Read more from “Fed Raises Interest Rates Again — Here’s How It Affects Your Wallet” HERE)

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Report: Raising a Child Costs Over $300,000 Due to Soaring Inflation

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Skyrocketing inflation is increasing the burden on American parents to raise children, according to the Brookings Institution.

The Wall Street Journal published the left-wing institutions’ analysis that found it can cost up to over $310,605 to raise a child in today’s economy, which works out to an average of $18,271 per year to raise a child born after 2015.

Per the Journal:

The multiyear total is up $26,011, or more than 9%, from a calculation based on the inflation rate two years ago, before rapid price increases hit the economy, the Brookings Institution said.

Contributing to the high cost of raising a child is soaring food prices, the analysis noted. (Read more from “Report: Raising a Child Costs Over $300,000 Due to Soaring Inflation” HERE)

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‘Isn’t It Almost Orwellian?’ White House Fumbles Trying to Explain Misleading Inflation Bill (VIDEO)

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White House press secretary Karine Jean-Pierre fumbled Sunday when asked about the “Orwellian” nature of the Inflation Reduction Act by “This Week” host Jon Karl.

An ABC News/Ipsos poll from early August found only 37% of Americans approve of President Joe Biden’s handling of the economy, Karl explained to Jean-Pierre, and asked her why, if things are getting better with inflation, so many Americans disapprove of the president. Jean-Pierre argued that the White House is aware of what the American people are feeling. She then gave examples of how the president has “partly” helped in attempting to improve inflation issues, noting the introduction of the Inflation Reduction Act.

“Let me ask you. It’s called the ‘Inflation Reduction Act,’ but the Congressional Budget Office [CBO], which is nonpartisan, said there would be a negligible impact on inflation this year and barely impact inflation at all next year,” Karl responded, “Isn’t it almost Orwellian? How can you call it the ‘Inflation Reduction Act’ when nonpartisan experts say its not gonna —”

(Read more from “‘Isn’t It Almost Orwellian?’ White House Fumbles Trying to Explain Misleading Inflation Bill (VIDEO)” HERE)

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Has Inflation Peaked? Maybe, but It Could Be ‘Painfully Slow’ to Fall

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The cooler-than-expected July inflation data fueled hopes that consumer prices peaked earlier this summer after a year of relentless increases that crushed Americans, created a political firestorm for President Biden and forced the Federal Reserve to hike interest rates at the fastest pace in decades.

The consumer price index climbed 8.5% in July from the previous year, a bigger drop from the 9.1% recorded in June than economists projected. On a monthly basis, the index did not move at all as decreases in the cost of oil, gasoline and airfares offset increases in food and rent.

When excluding more volatile measurements of food and gasoline, prices jumped 5.9% in July, matching the previous month.

While the slowdown is likely a welcome respite for the Fed as it tries to wrestle inflation under control, experts cautioned that inflation remains painfully high and could be slow to return to pre-pandemic levels around 2%. (Read more from “Has Inflation Peaked? Maybe, but It Could Be ‘Painfully Slow’ to Fall” HERE)

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Biden Says ‘Inflation’ Bill Funds Healthcare, ‘God Knows What Else’ in Bizarre Speech

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President Biden seemed unfamiliar Monday with the specifics of the massive spending bill dubbed the Inflation Reduction Act that Senate Democrats passed Sunday, saying it funds healthcare “and God knows what else.”

Moments earlier, Biden misstated the size of last year’s $1.2 trillion bipartisan infrastructure law while touring flood damage in the Kentucky hamlet of Lost Creek.

“We’ve never done this before, but because of a number of things we got done on a bipartisan basis — like a billion, 200 million-dollar infrastructure project — like what we’re doing today, we passed yesterday, helping take care of everything from health care to God knows what else,” Biden said.

“What we’re going to do is — we’re going to see, for example, they got to put a new water line in in the community,” the president went on, speaking without a prepared script.

“There’s no reason why they can’t at the same time be digging a line that puts in a whole new modern line for Internet connections. Why? Why can’t we do that? So it’s going to be different. We’re going to come back better than before.” (Read more from “Biden Says ‘Inflation’ Bill Funds Healthcare, ‘God Knows What Else’ in Bizarre Speech” HERE)

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