By M.D. Kittle
MADISON — With apologies to Jeff Foxworthy, you might be a liberal if you think President Joe Biden’s far left policies don’t have anything to do with the economically crippling inflation that continues to wreak havoc on U.S. households.
The consumer price index for August hit 8.3%, according to the latest data from the U.S. Department of Labor. Inflation checked in higher than most experts expected, driven by soaring food, rent and car prices.
“Today’s report confirmed what every American knows: prices are too high,” U.S. Rep. Bryan Steil (R-Janesville) said in a statement. “Inflation remains at near four decade highs due to policies passed by democratic one-party control.”
In arguably one of the most tone-deaf moves of his tenure, Biden held a celebration on his big-spending and ill-named Inflation Reduction Act on the same day Americans were officially learning how much more they are paying for goods and services. The party included a performance by old hippie James Taylor and old delusional Joe Biden, who proclaimed the Inflation Reduction Act is the “single most important legislation passed in the Congress to combat inflation and one of the most significant laws in our nation’s history.”
As Biden and his fellow Democrats partied, Wall Street took a bath. The Dow Jones Industrial Average tumbled nearly 1,300 points, its biggest drop since June 2020, taking with it more of America’s retirement savings.
The consumer price index has been at or above 5% for 16 consecutive months, devouring household income. Real wages have been in negative territory for 17 straight months, decreasing 2.8%, seasonally adjusted, from August 2021, according to the Bureau of Labor Statistics.
At the supermarket, food prices have soared 11.4%, including:
Eggs — 39.8%
Milk — 17%
Meat — 6.7%
Fruits and Vegetables — 9.4%
Coffee — 17.6%
Rent is up 6.7% in year over year comparisons. While gas prices have fallen from their national $5 per gallon highs, energy costs remain 23% higher. The price of new vehicles has climbed 10.1%. Airfare is 33.4% higher on the year.
Wisconsin households saw costs soar by $673 per month in August when compared to January of 2021.
“Americans are struggling to make ends meet but the disastrous Democrat policies that Mandela Barnes supports would make life worse,” said Ben Voelkel, spokesman for U.S. Sen. Ron Johnson’s campaign. “Barnes is dangerous for Wisconsin, and he has proved that he is willing to sacrifice the wallets of working-class Americans and balloon our nation’s deficit spending to fundamentally transform our nation.”
Empower Wisconsin | Sept. 14, 2022