Biden's latest 'accomplishments'
Not surprisingly, President Joe Biden (D) likes to take credit for his "successes" — e.g., choosing the first woman, the first black, the first Indian, the first of any combination of the preceding three identifiers. (And how is that working out?) Of course, the lapdog media, yapping contentedly, repeats these oh, so commendable firsts.
But not much — okay, nothing — is heard from Biden and the mainstream media of straight from the horse's mouth, the Bureau of Labor Statistics report released this week, on the Consumer Price Index for November 2021:
CONSUMER PRICE INDEX — NOVEMBER 2021
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.8 percent before seasonal adjustment.
Wow! "[T]he all items index increased 6.8 percent" from November 2020, when he-whose-name-must-not-be-mentioned-favorably was president. And I don't recall hearing much last month when the BLS released data showing similar increases from October 2020, when the same unnamed individual was still president, to October 2021.
What more did President Biden do for us for such basics as food, energy, and medicine in the last month?
The food index increased 0.7 percent in November after rising 0.9 percent in both September and October. The food at home index increased 0.8 percent in November as all six major grocery store food group indexes rose; this was the third consecutive month that all six increased. (snip)
The energy index rose 3.5 percent in November after rising 4.8 percent in October. (snip) The medical care index also rose in November, increasing 0.2 percent after rising 0.5 percent in October.
But wait! Although you haven't heard much about the preceding, perhaps you've heard about the following good news on such vitals as vehicle insurance, recreation, and communication:
The motor vehicle insurance index fell 0.8 percent over the month after being unchanged in October. The recreation index fell 0.2 percent in November after rising in each of the last 9 months. The index for communication also declined 0.2 percent in November.
Well, that is reassuring, but why these categories? Well, perhaps thanks to Wuhan coronavirus and the subsequent fallout, most people didn't drive much or disport as usual, maybe even communicated less.
So yes, inflation is unmistakably up, up, and away, according to Bloomberg:
U.S. consumer prices rose last month at the fastest annual pace in nearly 40 years, magnifying how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy. (snip) The core CPI was up 4.9% from a year earlier, a fresh 30-year high.
"Eroding paychecks." But, but...what about those wage increases Biden has been bragging about? Again, Bloomberg informs us:
Wages have risen substantially in recent months but not as fast as consumer prices. Inflation-adjusted average hourly earnings fell 1.9% in November from a year earlier, the biggest drop in six months, separate data showed Friday.
No thanks, Joe Biden. You definitely did that. And more.
Now what are you going to do about it?
Image: National Archives.
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