Democrat Joe Biden’s presidency is getting crushed by terrible bad news that does not seem to stop coming at his supporters, and the rest of America is suffering worse than many people can remember in modern times with a complex set of problems.
Popular pundit Charlie Kirk posted about some of the issues recently.
The Stock Market just had its worst day since June 2020
Gas Prices just hit an all-time high
Babies are being hospitalized because of a nationwide formula shortage
Inflation is hitting record levels
Explain to me why we would send $40B to Ukraine when America looks like this?
— Charlie Kirk (@charliekirk11) May 18, 2022
There it is.. inflation.
According to Investopedia:
“Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time. The rise in the general level of prices often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
Inflation can be contrasted with deflation, which occurs when the purchasing power of money increases and prices decline.”
Kind of like the difference between President Donald J. Trump- when money was up-and Democrat Joe Biden when money is down- right?
Americans are sick of the ups and the downs of inflation, and polls show that the number one concern on the minds of voters is inflation, and the Democrats, ahead of the 2022 midterms, are doing everything in their power to keep people from figuring out where inflation comes from.
One US House Rep. is explaining it to them by telling them it is coming from overspending – the kind of overspending that only Democrats know how to do.
Grothman made recent remarks on the floor of the House and slammed Democrat Joe Biden
Due to @POTUS's economic policies, consumer prices are still climbing. The price for gas, housing, and groceries is eating away at families and workers alike.
On the House floor, I demonstrated why inflation will not ease until we work together to get our fiscal house in order. pic.twitter.com/JyqQA7DdLF
— Rep. Glenn Grothman (@RepGrothman) May 12, 2022
Local WI reporter, Joe Scultz, reported for Ripon Press:
During a recent stop in Green Lake, U.S. Rep. Glenn Grothman (R-Glenbeulah) discussed the leaked U.S. Supreme Court draft opinion overturning Roe v. Wade, inflation, the southern border and more.
Grothman spoke to the Green Lake Rotary Club last week Thursday.
Grothman said he believes it will get worse before it gets better. In touring manufacturing facilities, he said he learned that the cost of metals is expected to rise by 300 to 400%.
“Everyone I talk to … are telling me we haven’t really seen inflation like it’s going to be,” Grothman said.
He attributed the spike in inflation to government overspending causing the Federal Reserve to print more money.
“When [Donald] Trump was president, being a Republican, we were urged to spend more money,” Grothman said, noting the Federal Reserve didn’t want a repeat of the Great Recession when the COVID-19 pandemic began.
Economists have attributed high inflation to a number of factors, including supply chain issues, increased consumer demand, higher production costs and federal COVID-19 relief funds. In fact, Europe also is seeing high inflation, fueled by increased energy costs and raw materials shortages.
Grothman alleged the Federal Reserve wanted to lower the value of the dollar to make the national debt easier to pay off.
“If you have a $100,000 mortgage on your house, and inflation makes the value of the dollar worse, it’s easier to pay off $100,000 — and there’s no debtor bigger than the federal government,” he said. “… I sometimes wonder if the Federal Reserve wants to shrink the value of the dollar.”
Those comments came one day after the Federal Reserve raised interest rates and said it would begin removing trillions of dollars of assets through a mechanism called “quantitative tightening” to fight inflation.