President Joe Biden appears to have just lost the support of one Democrat Senator, at least when it comes to the U.S. economy.
Breitbart News reports Sen. Mark Kelly (D-AZ) as recently indicating that he is not satisfied with the Biden administration’s response to the astronomical inflation that Americans have been seeing.
Kelly’s comments came on Thursday during an appearance on CNN. There, he was asked, “Are you satisfied with the administration’s handling of inflation right now?”
No. Until — I mean, until it comes down to something that’s more sustainable and that families across the country can actually deal with, no.
Kelly’s comments came as the U.S. Labor Department released its latest Consumer Price Index report. What that report showed was that year-over-year inflation rose by 7.5% in January 2022.
In December 2021, the Consumer Price Index showed a 6.9% rise in inflation from December 2020. That was a 39-year high.
January 2022, though, is worse. The last time that America saw inflation as bad as 7.5% was in February 1982, which saw a year-over-year increase of 7.6%.
So, now, under Biden’s leadership, we can say that inflation is officially at a four-decade high.
The Biden administration has been working overtime to try to divert Americans’ attention from the year-over-year inflation numbers. Instead, it has been encouraging Americans to look at the month-to-month numbers, which is a .6% increase.
In addition to this, the Biden administration has been directing Americans’ attention toward, in Biden’s words, “positive real wage growth.” But, as Fox Business points out, this wage growth is only “positive real wage growth” if one ignores the rise in inflation.
“On a monthly basis, average hourly earnings increased by just 0.1% in January, when factoring in the 0.6% inflation spike,” the outlet reported. It added:
By that measure, the typical U.S. worker is actually worse off today than they were a year ago, even though nominal wages are rising at the fastest pace in years. That’s because inflation is also surging.
The long and short of it is that the U.S. economy is looking pretty bleak still under Biden’s leadership no matter how much he and his administration try to claim otherwise.