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esident Joe Biden has attempted to blame various scapegoats, from Russian President Vladimir Putin to big corporations, for the nation’s inflation woes. But thanks to the latest data and his own promises, the president officially owns the inflation disaster.
We just got yet more alarming metrics from the Bureau of Labor Statistics, showing inflation rising 8.2% from September 2021 to September 2022 — with double-digit increases in key goods from food to energy and beyond. This is the last inflation update we will receive before the November midterm elections, dealing a death blow to whatever hope Democrats had that inflation would ease before voters head to the polls. Remember when it was “transitory?”
Biden and his allies must now walk into the final stretch of this election with an inflation anchor weighing them down. And because of their own missteps, there’s no more deflecting responsibility.
Remember, Biden signed the Inflation Reduction Act into law in August. He promised this bill would “fight inflation and lower costs for American families.” Just on Sept. 13, the president had a celebratory event at the White House touting how awesome the plan was. Now, just a month later, we’re still seeing disastrous price increases. Oh, and real wages (adjusted for purchasing power) are declining, not rising. Wasn’t the president’s legislation supposed to stop this?