{"id":17343,"date":"2022-06-10T21:55:10","date_gmt":"2022-06-11T01:55:10","guid":{"rendered":"https:\/\/jimbovard.com\/blog\/?p=17343"},"modified":"2022-06-11T07:57:40","modified_gmt":"2022-06-11T11:57:40","slug":"new-york-post-biden-in-denial-on-inflation-crisis","status":"publish","type":"post","link":"https:\/\/jimbovard.com\/blog\/2022\/06\/10\/new-york-post-biden-in-denial-on-inflation-crisis\/","title":{"rendered":"New York Post: Biden in Denial on Inflation Crisis"},"content":{"rendered":"

\"\"<\/a>New York Post, June 11, 2022<\/h1>\n

Joe Schmo a \u2018soar\u2019 loser: Biden in denial amid inflation crisis<\/a><\/h1>\n
\n
By James Bovard<\/a><\/div>\n<\/div>\n

“\u2018We\u2019ve never seen anything like Putin\u2019s tax on both food and gas,\u201d President Biden blathered yesterday<\/a> after another disastrous report on soaring inflation. But almost nobody outside the Beltway believes that Putin is to blame for the ravaging of American consumers. The inflation rate has increased sixfold since Biden took office and it was soaring before Russia invaded Ukraine.<\/p>\n

Federal data released yesterday obliterated Team Biden\u2019s talking points about \u201ctransitory\u201d or declining inflation. Inflation is now officially at a pace of 8.6% per year<\/a> \u2014 the highest rate in more than 40 years. The price of food is up more than 10% over the past year and the price of gasoline is through the roof.<\/p>\n

Bidenflation has slashed the average worker\u2019s pay by 3% in the past year and much worse hits could be coming<\/a>. Rep. Lance Gooden (R-Texas) noted, \u201cJoe Biden promised $2,000 stimulus checks but gave Americans $5,000 per year inflation instead.\u201d<\/p>\n

In a speech Friday, Biden boasted that the economic recovery<\/a> \u201cis strong as can be but for inflation, but for gas and food.\u201d Oh, only those things? Besides that, how\u2019d you like the play, Mrs. Lincoln?<\/p>\n

Consumer sentiment on the economy collapsed in May <\/a>to the lowest levels on record, a much sharper fall than experts forecast. On top of soaring prices, consumers are getting hammered by shortages of everything from infant formula to tampons (and it\u2019s not really comedian Amy Schumer\u2019s fault).<\/p>\n

Is the economic meltdown here? The Dow Jones average fell almost 900 points on Friday. Bank of America\u2019s Michael Hartnett announced, \u201cWe\u2019re in technical recession but just don\u2019t realize it.\u201d<\/p>\n