Joe Biden’s America: The August inflation report was “hotter than expected.”
Inflation rose by 0.1% in August even though gas prices dropped.
Food prices and shelter costs are up.
“The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.” CNBC reported.
Joe Biden and Democrats are actually planning to celebrate their “Inflation Reduction Act” Tuesday at the White House.
What a joke.
This is after Joe Biden and the Democrats blew another $700 billion in a ‘green energy’ spending bill and absurdly called it the “Inflation Reduction Act” in August.
CNBC’s Rick Santelli threw cold water on Slow Joe’s celebration.
Santelli said, “it’s food that we have to pay attention to” after the food index increased 0.8% in August.
“Call an end to” Biden’s claims inflation is “moderating” Santelli said on Tuesday morning.
Santelli also blasted Joe Biden and the Democrats for spending more on student loan bailout, the CHIPS and Science act and the ‘green energy’ bill.
“The thing that really bothers me with regard to inflation is everybody on this panel agreed months ago that one of the reasons inflation was high was the government spending and after we agreed on that what did the government do? They spent more! Student loans – welfare in terms of the CHIPS Act! Seems like nothing is sinking in!” Santelli said.