Search Results for: "tom price"
U.S. Inflation Hits Highest Level Since 1982
January 12, 2022
Inflation climbed 7 percent over the last year, reaching its highest level in 40 years, according to new numbers from the U.S. Bureau of Labor Statistics. Wall Street Journal: “The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—rose 7% in December from the same…
Democrats’ ‘Build Back Better’ Agenda Projected to Hurt Economic Growth and Increase National Debt
December 15, 2021
Joe Biden and the Democrats’ Build Back Better Act will decrease GDP by 0.2% while increasing our national debt by 1.5% by 2050, according to a new study from the Penn Wharton Budget Model. If you remove the budget gimmicks Democrats inserted into the bill to lower its price tag,…
Nearly Half of American Families Reported ‘Financial Hardship’ Due to Rising Inflation
December 2, 2021
Forty-five percent of American households said they’ve experienced “financial hardship” due to recent price increases, according to new polling from Gallup. Ten percent of the total people polled described the hardship as “severe,” saying it’s affected their ability to maintain their current standard of living. Gallup: “As Americans sail into…
‘Transitory’ Inflation Expected to Last for A While
November 4, 2021
The Biden-Harris administration has said for months that inflation would be a “transitory” issue, but as the cost of everyday goods and services continues to surge, economists are saying inflation may be around much longer than anticipated. CBS: “‘Our sense is that the inflation and price increases will get worse…
U.S. Economy Moving at Sluggish Pace as Inflation, Supply Chain Woes, Labor Shortages Plague Growth
October 28, 2021
The U.S. economy grew at its slowest pace of the pandemic recovery era in the third quarter of 2021, coming in at a 2% annualized rate. Economists surveyed expected the growth to register at a 2.8% annualized rate. The number was the worst since COVID-19 grew into a global pandemic…
As Inflation Surges, Voters Blame Bad Economic Policy
August 12, 2021
Key indicators continue to point to skyrocketing inflation. Today, the Department of Labor reported the producer price index, which measures what U.S. producers receive for goods and services, rose a record 7.8 percent in July, outpacing expectations. That followed yesterday’s news that the consumer price index jumped 5.4 percent last…
Inflation Gives Workers a Pay Cut
July 13, 2021
The consumer price index, a measurement of what consumers pay for common goods and services like groceries and restaurant meals, rose 5.4% over the last 12 months, the largest increase since 2008. Economists had expected just a 5% gain. CNBC reported that these rapid price increases are turning into an…
ICYMI: ‘Higher Inflation Is Here to Stay for Years, Economists Forecast’
July 12, 2021
Economists are sounding the alarm bells over record-breaking inflation that is expected to continue for several years, according to a new report from the Wall Street Journal. Wall Street Journal: “The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to…
Inflation Fears Start to Creep in at the Federal Reserve
June 17, 2021
After months of saying that inflation fears were misplaced, the Fed has changed its tune. Yesterday, the Fed sounded far more unsure if the recent surge in prices of goods and services would be temporary or a longer-lasting problem. Yahoo Finance: “Is there a risk that inflation will be…
Congressional Budget Office Says Joe Biden’s $15 Minimum Wage Mandate Would Cost Americans 1.4 Million Jobs
February 8, 2021
The Congressional Budget Office (CBO) released a new study revealing that Joe Biden’s $15 minimum wage proposal would eliminate 1.4 million jobs. This would compound the economic difficulties Americans are already facing while trying to recover from the Coronavirus outbreak, which devastated many industries and put millions of people out…