On a periodic basis we do some posts that fall under the theme of “by the numbers.” Rather than trust what the American politician tells us about reality, we like to examine the real numbers and the real reality in the world to understand what is actually going on. Relying on politicians, and their cohorts in the media, to tell us what is reality is always a sucker bet. They have their own agendas and goals, usually centering around their needs and self-enrichment. So we need to look at the reality of the numbers to determine what is really going on.
Previous analyses of “by the numbers” can be accessed by entering the phrase in the search box above. This is the third and final post this month where we look at the numbers to truly find out how good, not likely, or bad, most likely, the American political class is doing in managing our tax dollars, protecting our freedoms, and resolving major issues that affect all of us.
1)As we have discussed so many times in this blog, Biden’s economic expertise and programs have been an inflation disaster for every American. Nowhere does that reality hit home than in your local supermarket:
According to a Wall Street Journal analysis, grocery prices are almost 40% higher today than in 2019.
The actual increase was a weighted average of 36.5% across all food categories.
Eggs cost 63% more than 2019 and sports drinks cost 80% more on average.
The vast majority of the five year inflation came from the past few years, i.e. the Biden years, with inflation jumping a whopping 10.2% from February, 2023 to February, 2024.
The cost of existing, i.e. taking nourishment, is getting more and more expensive and difficult, thanks to Biden and the economic idiots in Washington.
2)Getting away from food inflation, the overall inflation rate for everything continues to march upwards:
Consumer prices went up 3.5% in March, higher than expected.
A lot of the price increase was driven by higher costs of energy and shelter with the cost of shelter on average up a whopping 5.7% on a year over year basis.
Other drivers of the overall increase in inflation were gas, clothing, car repairs, and groceries.
Not unexpectedly, Biden refused to take responsibility for this insulting inflation, actually blaming Republicans and business leaders’ greed, anyone but himself.
Keep in mind that inflation was well under control when Trump was President and yet Biden blames everyone but himself. Insanity.
3)Let’s keep the inflation wagon rolling:
Gas prices across the country recently hit a six month high reaching an average cost of $3.60 a gallon.
This is more than a 50% increase since Biden took office.
The average price for gas when Biden took office was $2.38 a gallon.
The average price is up $.20 per gallon in the past month.
And even worse, Goldman Sachs thinks gas could hit $4.00 a gallon by May and some other “experts” claiming that $5.00 a gallon could be in our near term future.
Fortunately, most of us do not live in California where the average price is already a whopping $5.50 a gallon.
More expensive to travel, more expensive to eat, more expensive to live, welcome to Biden’s economic dystopia.
4)We have often made the assertion that a state government or two will likely go bankrupt in the not too distant future. They have raised taxes so high that residents and businesses have started to migrate out of these states, taking their tax revenue with them, to find less onerous tax burdens for themselves, their families, and businesses.
A number from a recent Wall Street Journal article shows why we think New York might be that state government to go bankrupt: “One reason why New York resorted to congestion pricing is it had squeezed the tax turnip dry. All in - federal, state, city, payroll tax surcharges - New York City’s top marginal rate exceeds 50%.”
Think about it: in certain situations, a resident of New York could be sending over half of their income to some level of government. If that number does not disgust a freedom loving American then they do not know they are no longer free since personal freedom is impossible if one does not have economic freedom. And giving government bureaucrats and politicians half of your earnings is not economic freedom.
That will do it for today: Biden’s failed economic policies and the resultant inflation impacts all of us and New York’s taxation fetish is out of control and will eventually lead to the collapse of the state government's finances.
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If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:
https://www.change.org/p/deseat-congress-reset-freedom
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