“Two years in, it’s clearer than ever that my economic plan is working.” That was President Joe Biden’s borderline insane response to the latest inflation data.
Working?!? Yes, the latest data pegs CPI at “only” 6.5%. Yes, it’s a decline month on month — a mild one driven partly by the fact that warmer winter weather (and thus lower energy costs) is giving punished consumers a smidge of breathing room.
But even that small comedown (which still leaves the rate near historical highs!) masks the true extent of the damage Bidenomics has done. And the fact that it’s still so high proves Biden’s policies are doing ever more damage.
Overall, inflation is up a hideous 13.7% since Biden took office. (Compare that to 3.6% over the same period in the first Trump term.) It has stayed at or above 5% for 20 straight months.
