With perfectly malignant timing, Biden decided to host a celebration for his Inflation Increase Act, which taxes and audits Americans to fund subsidies for Tesla drivers and other green energy special interests, even as the latest report shows food and shelter prices rising.
The consumer price index is at 8.3%. Food is up 0.8%.
And Biden is claiming victory.
Biden on Tuesday plans to tout progress on inflation, even though the government’s latest data reinforced concerns.
The yearly pace of inflation declined slightly to 8.3% in August, the Labor Department said. But the core Consumer Price Index, which is considered a better measure of long-term trends, showed a larger-than-expected increase, rising 6.3% compared to a year ago.
Biden is calling this a win. And it’s another loss for Americans.