Democrats Push Inflation to New 40-Year High

Soaring prices, fueled by Joe Biden and Democrats in Congress, continue to create “severe financial pressures” on Americans. Inflation hit a new, and unexpected, 40-year high of 8.6 percent in May.

Wall Street Journal: U.S. consumer inflation reached an 8.6% annual rate in May, its highest level in more than four decades as surging energy and food prices pushed prices higher. . .

May’s increase was driven by sharp rises in the prices for energy, which rose 34.6% from a year earlier, and groceries, which jumped 11.9% on the year. Prices for used cars and trucks rose 1.8% in May from April, reversing three months of declines. Shelter costs, an indicator of broad inflation pressures, accelerated on a monthly basis in May and were up 5.5% compared with a year ago.

CNBC reported that the Biden-Harris administration’s war on American energy is responsible for the skyrocketing cost for fuel and electricity, at least in part. An on-air reporter said that “things might have been different” if Joe Biden had not closed pipelines and ran his campaign opposing fossil fuels.

CNBC's Rick Santelli criticizes the Biden admin's green energy agenda, connecting it to record-breaking inflation numbers:

“By not closing pipelines, by not talking pre-election about how much they don’t like fossil fuel, maybe things would have turned out a bit different.” pic.twitter.com/ZFpYKV6ZDl

— America Rising (@AmericaRising) June 10, 2022

Rising prices are also creating a “political crisis” and “huge challenges” for Democrats as the midterms approach. More than 90 percent of voters believe inflation is a big issue and just one-third approve of Biden’s handling of the economy.

Bottom Line: Americans are desperate for relief as inflation hammers their finances — and they’re blaming Democrats for the economic pain.