Inflation hits 20 percent under Biden, pushing small businesses to the brink

The Hill ^ | 05/15/2024 | ALFREDO ORTIZ

[ChicagoConservative27]

On Wednesday, the country hit a sad milestone: Inflation under President Biden hit 20 percent. The dollar’s value has plummeted under his watch. The Bureau of Labor Statistics also confirmed that the consumer price index is resurgent and growing faster than average wages. Combined with weak GDP growth, this data shows the U.S. economy is reentering stagflation.

Historic inflation is causing declining living standards and a cost-of-living crisis. Under Biden’s presidency, grocery prices have increased by nearly one-third and gas has risen by 50 percent. It feels like every daily convenience — from a turkey sandwich to some handyman help — has increased by 50 percent or more.

Yet Biden seems entirely out of touch with this reality. In a recent CNN interview, he responded to these inflation numbers by claiming, “They have the money to spend.” In reality, it now costs the average American family $12,000 more to maintain the same living standards as before President Biden took office.

[Cen-Tejas]

Like most people I can’t stand Biden. I hold my finger on the MUTE whenever there is a chance the sob will come up on my screen.

However, I don’t think he deserves all the blame or even 51%.

The radicalized marxist/socialist/baby killing Democratic Party deserves 99%. Biden is 1 %. In my opinion. The put him where he is............along with some RINO’s.

[Organic Panic]

Count me in. No only inflation, but the wholesale destruction of my industry from kung flu lock downs, and the forced “green” revolution.

[CFW]

Notice that “The Hill” had this message prominently displayed in red:

“THE VIEWS EXPRESSED BY CONTRIBUTORS ARE THEIR OWN AND NOT THE VIEW OF THE HILL”

Lol! We know, The Hill. We know.

[frank ballenger]

People are still free to learn Chinese and move to China. Except for their vicious racism the person might still be able to work there.

[Ruy Dias de Bivar]

$121.15 in Apr. 2024 equals $100 of buying power in 2020 (Average).
Check it out yourselves.
https://www.calculator.net/inflation-calculator.html?cstartingamount1=100&cinmonth1=13&cinyear1=2020&coutmonth1=4&coutyear1=2024&calctype=1&x=Calculate#uscpi

[Altura Ct.]

Can’t be…Brandon said so.

[mewzilla]

It’s a twofer for Deep State.

Gets rid of competition while annihilating the middle class.

[pas]

It is not 20%. That is just greed. /s

[woodpusher]

https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical_us_table.htm

The article used the Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) for all consumers. CPI for 1982-84 was set at 100.

For January of the stated year:

2017 242.839
2018 247.867
2019 251.712
2020 257.971
2021 261.582
2022 281.148
2023 299.170
2024 308.417

For April:

2024 313.548

Under 4 years of Trump, the basket went up $18.74.

Under 3.33 years of Biden, the basket went up $55.77 from Jan 2021 to Apr 2024. That indicates an increase of 21% over January 2021.

[roadcat]

Im sure everything will be fine, we won’t run out of money, they will print as much as we need. Buy WheelBarrows.

That's old style thinking. Shoplift WheelBarrows. Get with the program!