Inflation is at a 30-Year High Thanks to Joe Biden

Prices increased 6.2 percent in October compared to a year ago, making it the largest annual increase in 30 years, according to new data released by the Bureau of Labor Statistics.

While forecasters expected a surge in inflation due to skyrocketing energy prices and supply chain bottlenecks, additional price hikes are being noticed across the board. In other words, everything is costing more these days, from Thanksgiving meal ingredients to used cars.

Washington Post: “Yet, inflation expanded to other categories, increasing throughout the economy, with the BLS noting higher prices for energy, shelter, food, used cars and trucks and new vehicles among the larger contributors.”

Contrary to the Biden-Harris administration’s talking points, inflation is not expected to be a “temporary” issue.

Wall Street Journal: “Uncomfortably high inflation will grip the U.S. economy well into 2022, as constrained supply chains keep upward pressure on prices and, increasingly, curb output, according to economists surveyed this month by The Wall Street Journal.”

Despite all of this, Democrats are still attempting to ram their reckless tax-and-spend bill through Congress which is projected to lead to higher inflation and make life more difficult for working families.

Wall Street Journal: “‘It’s a perfect storm: supply-chain bottlenecks, tight labor markets, ultra-easy monetary and fiscal policies,’ said Michael Moran, chief economist at Daiwa Capital Markets America.”

Bottom line: Inflation keeps breaking records while Joe Biden and the Democrats plow forward with their multi-trillion-dollar socialist wishlist. Americans cannot afford more of the same stifling policies from this incompetent administration.