Another Abysmal Report On Inflation
Washington, D.C., July 13, 2021
Tags: Jobs and Economic Growth
Another month, another abysmal report on inflation.
Filling up with gasoline? Average gas prices in South Carolina are up 30% from this time a year ago. If your mid-sized car drinks 13 gallons of fuel weekly, you’re now on track to pay $400 more over the next 12 months for gas.
Forget about fuel for a minute – let’s just hope you don’t need to buy another vehicle! If you’re in the market for a used car or truck, you’ll pay over 10% more today than you would have this time last month, and 45% more today than you would have paid this time last year.
Under Biden’s watch, prices are rising everywhere we look – housing, transportation, clothing, travel, energy, and everything in between.
Despite this, the trillions of additional dollars in reckless federal spending that liberals want will only make the problem worse. You cannot pump that kind of (borrowed) money into the current state of our economy without causing significant inflationary harm to lower and middle-income Americans.