The Labor Department has released job numbers concerning the Consumer Price Index. The CPI is a general statistic that factors in everyday goods that Americans purchase on a regular basis (gas, housing, groceries). The numbers showed that in one year, prices (and therefore inflation) have risen 9.1%, and 1.3% from May 2022 to June 2022, alone.
The nation has not seen this dramatic jump in inflation since December of 1981.
However, President Joe Biden (D) says that the numbers are misleading, but also tackling the problem is his “top priority.”
"While today’s headline inflation reading is unacceptably high, it is also out-of-date," Biden said. "Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June. Those savings are providing important breathing room for American families."
Florida Congressman, Rep. Brian Mast (R-FL) called the report from the Labor Department a “punch in the gut”.
This morning’s Consumer Price Index report, or CPI, is another punch in the gut for American families. Inflation is up a staggering 9.1% thanks to reckless spending from Biden and his allies in DC. pic.twitter.com/prVw1mZgK5
— Rep. Brian Mast (@RepBrianMast) July 13, 2022
“This morning’s Consumer Price Index report, or CPI, is another punch in the gut for American families. Inflation is up a staggering 9.1% thanks to reckless spending from Biden and his allies in DC," said Rep. Mast.
According to RealClearPolitics, only 18% of Americans believe the country is headed in the right direction, while 75.1% believe the nation is headed on the wrong track. To put that number into more perspective: on June 16th, 2009, the “right direction” poll was nearly dead even. Americans were optimistic in the early Obama administration. In April of 2021, the “wrong track” number was only at +6 (49.8 disapprove, 43.8 approve). In about 13 months, more than 50% of voters have changed their mind, and now believe the country is heading in the wrong direction.
Biden also polls at a 38.5% disapproval average with some polls such as the New York Times poll going as low as 33% for the former two-term Vice President to Barack Obama.
