Inflation in the United States comes amid several other troubling reports. Back in May, the consumer price index spiked by 0.6%. May also marked the month of an atrocious jobs report and only a fraction of projected jobs joining the economy.
Mark Penn, the poll director for Harvard CAPS/Harris, also confirmed that inflation worries have escalated to “new highs”; this is, in part, due to more Americans spending their savings and expressing a willingness to assume “discretionary debt” this year.
Where are America’s leaders?
Right now, Republicans are fighting tooth and nail to stop the nation from fully succumbing to all of President Biden’s spending packages. Currently, the president is still trying to pass several more spending bills, bills that would undoubtedly weaken spending power even more.
The GOP is moreover calling on President Biden to face reality; conservatives in Washington want Biden to understand that his current levels of spending are not feasible in any fashion whatsoever.
