September 12, 2024 |
Photo – Senator John Barrasso – Bigfoot99 file photo
High prices are crushing American families was the message, and Vice President Kamala Harris is running from her White House record as she seeks to replace Joe Biden this November. That was the message Wednesday from Wyoming senior Senator John Barrasso.
Senator Barrasso said Americans are struggling under the economy the Biden-Harris regime created.
The senator said the nation needs to put the economy back on a track that leads to prosperity, not more economic ruin. New economic numbers released on Wednesday show that while the rate of inflation cooled a half of a percentage point from July to August, and are down 9.1 percent from 2022, the cost of basic goods are more than 20 percent higher than when the Biden-Harris administration took over the economy.
Senator Barrasso said Americans had more spending money during the Trump Administration, but now they are worried about their ability to pay their basic, monthly energy bill.
The senator said the Biden Administration is fundamentally opposed to American energy production. The result is a cascade of high prices.
High energy costs produce a rippling effect in the economy, robbing ordinary Americans of the ability to purchase everyday items. Despite easing inflation for the last two months as November approaches, many families and senior citizens continue to struggle. Even discount retailers are feeling the pain. The Dollar General, whose core customer earns less than $35,000 a year, offered a telling detail on its earnings call: the last week of the month had been “the weakest by far” in recent months, suggesting that paychecks were running out.
Instead, the Biden Administration has spent the last year announcing phony numbers about jobs that were never recreated, and then quietly downgrade the numbers a month or two later to hide the reality of their mismanagement.
Americans are living in a nightmare of high prices and high taxes. Only yesterday, the Department of Labor reported that consumer prices rose more than expected in August, indicating that inflation accelerated over the summer.
Compared with a year ago, core inflation is up 3.2 percent.
A big driver of the increase in August was a 0.5 rise in housing prices. Compared with a year ago, the shelter index is up 5.2 percent. Other categories that saw significant price increases include airfares, car insurance, education, and apparel.
Senator Barrasso said the Bureau of Labor Statistics reported faulty employment numbers. One million jobs counted by the Biden-Harris Administration do not actually exist.
The jobs never existed, Senator Barrasso said. “They were never created.”
Fewer manufacturing jobs exist today than last year. Auto workers are being laid off in Michigan.
Meanwhile, stock prices tumbled on Wednesday after Harris said in the debate that she would seek to hike taxes on corporate profits, unrealized capital gains and the incomes of wealthier Americans. The Dow Jones Industrial Average fell by more than 500 points, or 1.4 percent. The S&P 500 declined by 1.1 percent. The Nasdaq Composite was down .70 percent.
The big concern on Wall Street is that the economy is weakening and that recession is becoming a real concern if it weakens any more.
