Like Dracula rising from his coffin to haunt the living, inflation is returning with a vengeance.
While the Biden administration has been busy taking credit for inflation coming down - after conspicuously denying culpability for running it up to 40-year highs in the first place - President Biden is once again silent as inflation reaccelerates.
Worse, Bidenomics is keeping the monster of inflation alive.
Annual inflation, as measured by the consumer price index, rose from 3.0% in June of this year to 3.2% in July, and when the figures for August come out, we'll surely see that it's risen again.
Inflation has reduced the purchasing power of that worker's pay by $4.62 an hour, compared to when Mr. Biden became president.
How do we stop the monster? Trimming the federal budget is the sunlight that will force the inflation Dracula back into his coffin.
Slamming the brakes on government spending will remove the Fed's incentive to create inflation, and then prices will finally stabilize as the Treasury's borrowing bonanza comes to an end.
https://www.washingtontimes.com/news/2023/aug/29/bidenflation-sequel-another-horror-film/
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