The US Government is lying.
It is a lot higher than that. ‘
What the US Federal Government does is create a “basket of goods” to measure inflation. They take out all the necessities of life like fuel, food, electricity, water, housing, insurance etc. The Government says those goods are “too volatile use to get an accurate measurement. The truth is it is done to keep the official inflation rate artificially low.
Social Security cost of living adjustments is, by law, tied to the official inflation rates. If the true rate of inflation was based on the necessities of life, it would be much higher thus requiring the US Government to have to divert hundreds of billions in spending to just paying the COLA adjustments every year.
Since LBJ and the “Great Society” programs, the Soc Security Trust Funds have been invested in US Government Debt. That means the Soc Security Trust Fund is merely an accounting gimmick to hide the fact that current US Federal spending must cover all Government obligations as well as any new spending the US Government wants to do.
so that’s a 24% inflation rate
Rising 2.2% YOY.
I saw one report this morning that said the August inflation was 0.06%. That is nearly double of the previous several months, IIRC.
September number should be coming out soon.
Bidenomics in action.
The day Biden shut down down the oil line and drilling he opened the flood gates for gouging that feeds inflation it was no accident.
Things are going to be bad for a long time.
Hillary Clinton
The All Electric Marching Band plays on.
rampant spending continues... it is not something of the past. Why should we expect the wound to heal when the knife is still moving around in the body?
The House should pass appropriations that are small and specifc. No omnibus spending bills. No more continuing exccessive spending resolutions.
The House: Do your job. Pass small appropriations. Explicitly appropriate $0.00 to agencies that have no reason to exist.