Inflation Is Taxation, And It Continued To Surge In August

President Biden and House Democrats’ out-of-control spending caused inflation to surge again in August, according to the Labor Department’s Consumer Price Index (CPI), which measures a basket of goods and services as well as energy and food costs. 

CPI jumped 5.3% in August, which is nearly the fastest pace in almost 13 years. August’s CPI numbers follow the August jobs report, which was a “big disappointment,” missing economist expectations by nearly 500,000 jobs. These are just the latest signs that the Biden Economic Crisis is continuing with no end in sight. 

BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:

  • Inflation is taxation, and it has increased every month of Joe Biden’s presidency.
  • Because of Democrats’ out-of-control spending, Americans are paying more for just about everything:
    • Car and truck rentals are UP 52.6%
    • Gasoline is UP 42.7%
    • Used cars and trucks are UP 31.9%
    • Propane is UP 22.6%
    • Hotels and motels are UP 19.6%
    • Bacon is UP 17.0%
    • TVs are UP 13.3%
    • Beef and veal are UP 12.2%
    • Living room, kitchen, and dining room furniture is UP 12.0%
    • Women’s dresses are UP 11.9%
    • Steak is UP 11.3%
    • Fish and seafood are UP 10.6%
    • Eggs are UP 9.9%
    • Salad dressing is UP 8.7% 
    • Public transportation is UP 8.4%
    • New vehicles are UP 7.6%
    • Sporting goods are UP 7.6%
    • Chicken is UP 7.2%
    • Airfare is UP 6.7%
    • Men’s pants and shorts are UP 6.6%
    • Apples are UP 5.6%
    • Lettuce is UP 5.2%
  • The August jobs report fell well short of economists’ expectations adding only 235,000 jobs in August compared to an expected 720,000. 
  • This is the weakest jobs report of Joe Biden’s presidency. 
  • 8.4 MILLION Americans remained unemployed in August.  
  • There are 10.5 MILLION job openings.

IT’S SIMPLE: Inflation is taxation, and it has increased every month of Joe Biden’s presidency. Instead of addressing the root cause of inflation (out-of-control government spending), Biden and House Democrats are ramming through a crippling $3.5 TRILLION tax hike and spending bill, which will only add fuel to America’s skyrocketing inflation.