Biden’s inflation crisis continues to rage.
Today’s Consumer Price Index report shows core inflation — which strips out volatile energy and food prices — increased by 5.3 percent over last year and has “basically flatlined” since January.
CNBC: "I'm still concerned about this core [inflation] number, which is still 5.3% — it's the source of the Fed's concern." pic.twitter.com/LiK8qyFSaP
— RNC Research (@RNCResearch) June 13, 2023
Moreover, real average weekly earnings fell 0.7 percent compared to last year — the 26th straight month in which inflation has outpaced wages under Biden. In fact, real weekly earnings have been negative for the longest stretch on record — twice as long as the global financial crisis — and have fallen each month since Biden and Democrats forced their $1.9 trillion “stimulus.”
That’s not good news for Americans, who overwhelmingly say their financial situation has seen little improvement in Biden’s economy.
Now, after taking the economy to the brink of default, Biden and Democrats are pushing big revenue increases (read: tax hikes). Once again, it’s hardworking Americans who are paying the price for Biden’s failure to deliver.
