[Hoot Gibson]

At the deepest point of the pandemic-induced recession, it was very predictable that the demand for gasoline would begin rebounding as the economy began improvising. So what steps did Biden take? He replaced the policies of the Trump administration that had made this country energy independent for the first time in decades. Those were not the actions of a competent president.

You can make all of the excuses for Biden that you want, but he has shown absolutely no leadership in the White House in any area. It is a return to the "I've got a pen and I've got a phone" days, except Biden is not capable of using the phone effectively and relies on the radical left-wingers of his party to tell him when to use his pen.

Inflation is soaring because of Biden's policies and he has shown no inclination to adjust those policies to deal with the problem. He has painted himself into a corner because dealing with inflation effectively would require him to reinstitute many of the Trump policies and make him look like an even bigger fool than he did when he changed those policies.

[The Outsider]

At the deepest point of the pandemic-induced recession, it was very predictable that the demand for gasoline would begin rebounding as the economy began improvising. So what steps did Biden take? He replaced the policies of the Trump administration that had made this country energy independent for the first time in decades. Those were not the actions of a competent president.

You can make all of the excuses for Biden that you want, but he has shown absolutely no leadership in the White House in any area. It is a return to the "I've got a pen and I've got a phone" days, except Biden is not capable of using the phone effectively and relies on the radical left-wingers of his party to tell him when to use his pen.

Inflation is soaring because of Biden's policies and he has shown no inclination to adjust those policies to deal with the problem. He has painted himself into a corner because dealing with inflation effectively would require him to reinstitute many of the Trump policies and make him look like an even bigger fool than he did when he changed those policies.

The US was not energy independent, unless you believe Facebook Newsfeeds or Trump, although there were a few months that the US produced more energy than they used and we were closer to being independent than we have been in a long time.  Trump always exaggerates his accomplishments though. I believe I read that the US consumed about 20 million barrels of crude oil a day and produced about 12.5 million in 2019.

[Hoot Gibson]

At the deepest point of the pandemic-induced recession, it was very predictable that the demand for gasoline would begin rebounding as the economy began improvising. So what steps did Biden take? He replaced the policies of the Trump administration that had made this country energy independent for the first time in decades. Those were not the actions of a competent president.

You can make all of the excuses for Biden that you want, but he has shown absolutely no leadership in the White House in any area. It is a return to the "I've got a pen and I've got a phone" days, except Biden is not capable of using the phone effectively and relies on the radical left-wingers of his party to tell him when to use his pen.

Inflation is soaring because of Biden's policies and he has shown no inclination to adjust those policies to deal with the problem. He has painted himself into a corner because dealing with inflation effectively would require him to reinstitute many of the Trump policies and make him look like an even bigger fool than he did when he changed those policies.

The US was not energy independent, unless you believe Facebook Newsfeeds or Trump, although there were a few months that the US produced more energy than they used and we were closer to being independent than we have been in a long time.  Trump always exaggerates his accomplishments though. I believe I read that the US consumed about 20 million barrels of crude oil a day and produced about 12.5 million in 2019.

No, Trump did not exaggerate about the United States becoming a net petroleum exporter. Also, natural gas imports to the United States reached the lowest level in 2020 since 1993.

The United States became a net annual petroleum exporter in 2020. (The U.S. became a net importer in late 2019.)

Now that we have cleared up that confusion, let's hear your next unfounded attack on Trump.

[Hoot Gibson]

<sarcasm>More bad luck for Joe Biden. He just seems to have a knack for being in the wrong place at the wrong time.</sarcasm> Seriously, there is no good time for a man like Joe Biden to be in the White House. He would have been in over his head during his prime.

U.S. will import 62% more crude by 2022 due to domestic production declines, says EIA

WASHINGTON - Throughout much of its history, the United States has imported more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it has exported. That status changed in 2020. The U.S. Energy Information Administration’s (EIA) February 2021 Short-Term Energy Outlook (STEO) estimates that 2020 marked the first year that the United States exported more petroleum than it imported on an annual basis. However, largely because of declines in domestic crude oil production and corresponding increases in crude oil imports, EIA expects the United States to return to being a net petroleum importer on an annual basis in both 2021 and 2022.

[TheRealThing]

https://www.cnn.com/2021/10/11/business/...index.html
.
It appears as if OPEC is holding all the cards right now.

The cost of energy was dirt cheap in the spring of 2020 as roads and airports sat nearly empty during the height of the Covid-19 pandemic.

Energy demand is back today as the world economy reopens -- but supply simply hasn't kept up. That's why US oil prices have skyrocketed $120 since crashing to negative $40 a barrel in April 2020. US oil prices finished above $80 a barrel on Monday for the first time in nearly seven years.

While demand is strong, oil supplies have simply not kept pace.
US oil production has been slow to rebound from Covid -- even as prices have surged. Many US oil companies are leery of once again oversupplying the market and they are far more focused on returning cash to shareholders who have lost gobs of money over the past decade.

Because this administration true to Joe's word, is against fracking. That's why oil supplies have simply not kept pace.

[RAM-A-DEVIL]

We were never energy independent. The Saudi’s have cut production. Maybe if we let them get away with murdering another journalists with American citizenship they will pump more oil. As far as fracking goes every time we start fracking the saudis flood the market with cheap oil and put the frackers out of business. Cost way more to crack than it does to just pump it straight from the ground. Gas prices were cheap because of the pandemic and the country was shutdown and oil supply went through the roof because of lack of demand. Country opened back up and demand went back up.

[Hoot Gibson]

We were never energy independent. The Saudi’s have cut production. Maybe if we let them get away with murdering another journalists with American citizenship they will pump more oil. As far as fracking goes every time we start fracking the saudis flood the market with cheap oil and put the frackers out of business. Cost way more to crack than it does to just pump it straight from the ground. Gas prices were cheap because of the pandemic and the country was shutdown and oil supply went through the roof because of lack of demand. Country opened back up and demand went back up.

We became a net petroleum exporter in the 4th quarter of 2019 before the pandemic took hold. Biden has taken us back to the position of begging OPEC to increase their oil production because production has fallen under his "leadership." That is not an opinion, it is a fact.

[jetpilot]

^^^Straight-ticket GOP voter Outsider has CNN as his trusted news source. LOL zero credibility. And the rest of the libs think energy policy has nothing to do with gas prices. If they are awake they are lying...

[Hoot Gibson]

No end in sight for Bidenflation.

Procter & Gamble Executive Announces Prices of Household Staples Will Be Increased 'Week After Week'

Allison, a mother from Chicago, told the New York Post that as she sees her grocery bill keep rising, her family is starting to feel the pinch.

“There are no more splurges like going to Home Depot to buy an extra plant or eating out,” Allison [color=var(--main-theme-color)]said.[/color]

Many Americans are in the same position as Allison. Inflation is growing worse across the U.S., and now producers are warning their consumers that this is a problem that will not be going away soon.

Procter & Gamble, for example, announced that many of its prices will rise in the coming weeks since the cost of raw materials remains high, according to the [color=var(--main-theme-color)]Post. The company owns huge brands like Tide, Gillette and Crest.

“We do not anticipate any easing of costs,” P&G chief financial officer Andre Schulten said. “We continue to see increases week after week, though at a slower pace.”[/color]

The Post cited an interview Schulten gave to The Wall Street Journal, though the WSJ appears to have removed that specific quote.

And this is not P&G’s first announcement of a price hike. Back in April, the company [color=var(--main-theme-color)]warned that many paper products would begin costing more, including essentials such as tampons, diapers and paper towels.[/color]

And other corporate giants such as Coca-Cola, PepsiCo and General Mills have warned buyers throughout the year that costs will keep going up, according to CNBC.

These costs keep climbing in the aftermath of the economic disruption of COVID-19, and now everyone is suffering from inflation.

[Hoot Gibson]

Americans are very concerned about inflation and they blame Biden for the current situation.

Poll: Biden Responsible for Rising Inflation

Sixty-two percent of registered voters say President Joe Biden’s policies are very or somewhat responsible for rising inflation, according to a Morning Consult/Politico poll released on Wednesday.

The Biden administration is very responsible for the country’s high inflation, according to 40% of respondents, while an additional  22% said the president’s policies are somewhat responsible.

Only 28% said the administration is not too responsible or is not to blame at all for the higher prices.

Other results from the survey include:

• Although 85% of Republicans said the Biden administration is somewhat or very responsible for increasing inflation, most Independents (61%) also share that view, as do a sizable minority of Democrats (41%).
  
  
• In a separate question, about half (48%) said that Americans returning to pre-pandemic behaviors are very responsible or somewhat responsible for increasing  inflation.
  
  
• Among the respondents,  38% said this factor was not too responsible or not responsible at all for higher prices. Fourteen percent said they did not know.
  
  
• Compounding problems for the Biden administration, 89% of those surveyed said they are very concerned or somewhat concerned about inflation, with only 11% saying they are not too concerned or not concerned at all about the issue.
  
  
• When asked, generally speaking, if things in the United States are going in the right direction, only 38% said they were, while 62% said they have pretty seriously gotten off on the wrong track.
  

This high level of concern among the public concerning inflation comes despite the Federal Reserve, which has held interest rates at near-zero since the pandemic started, consistently stating that the high level of inflation will only be temporary and will not continue to be a problem, the Washington Examiner reported.

Earlier this month, the Department of Labor released a report stating that consumer prices went up 5.4% for the year ending in September, the highest pace of inflation since 2008.

The poll was conducted between October 16-18 among 1,998 registered voters. The margin of error: is  ± 2%

[Hoot Gibson]

Welcome to the upper class, everybody. The Biden Administration says that inflation is a "high class" problem. Inflation will be one of the top issues of the 2022 campaigns.

DeSantis On Bidenflation: ‘An Invisible Tax On The American People’
Gov. Ron DeSantis (R-FL) called inflation “an invisible tax on the American people.”

The remarks come as year-over-year inflation in the United States surges to 5.4% — and as Amy Baker, coordinator of the Florida legislature’s Office of Economic and Demographic Research, tells lawmakers that high inflation is transitory.

“Whenever you flood that much money into the economy, it always has some perverse effects with it, but that would be transitory, too,” she recently testified to members of the Florida legislature. “I believe within the year we should see it come back to some more normal, stable level.”

During an October 15 press conference in Naples, Florida, DeSantis asserted that inflation is more pervasive than most economists are willing to admit.
“This inflation is real. This inflation is upending a lot of things,” he said. “They said it was just going to be transitory — it’s not transitory.”

“You look at how much things have gone up year-over-year — these are stiff increases, and it’s basically an invisible tax on the American people.”

Indeed, many Americans are beginning to feel pressure from the rising price levels.

According to a recent survey of over 1,000 elderly investors with more than $250,000 in assets, 71% believe that rising inflation will negatively impact their retirement savings. Likewise, 46% of those with fixed income investments worry that low interest rates will impact their retirement income.

Data from the Bureau of Labor Statistics confirm that the average American’s real wage is falling due to inflation. The agency recently reported that “average hourly earnings” in the United States increased by 3.6% between June 2020 and June 2021. However, when considering inflation — specifically through the Consumer Price Index, which rose by 5.3% over the same period — “real average hourly earnings” diminished by 1.7%.

Meanwhile, White House Chief of Staff Ron Klain alleged that rising inflation is only a “high-class problem.”

Jason Furman — a Harvard University professor and former chair of the Obama administration’s Council of Economic Advisers — tweeted: “Most of the economic problems we’re facing (inflation, supply chains, etc.) are high-class problems. We wouldn’t have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem.”

Signaling agreement, Klain retweeted the post with the caption: “This.”

[Hoot Gibson]

The cost of electing a moron president continues to climb. There is no doubt that Joe Biden is the worst president in U.S. history by a wide margin. Nobody has done more damage to this country in such a short amount of time. 

Producer prices rise 8.6%, matching September record high

[TheRealThing]

Inflation rates this morning are at a 31 year high and show no signs of slowing. For this country the idiocy of printing money like there is no tomorrow, in fact has guaranteed economically, there is no tomorrow. And here's another little news flash--- though we are not quite arrived at the strangulation rates of the Carter era, (I lived through that time btw and know what I'm talking about) we are closing the gap rapidly. America in those days had no where near the welfare strain she has in this day. Less than half of the people are basically feeding the rest of America, meanwhile the mindlessness of endlessly increasing taxes by rabid left, has seen to it that going to the well so often has already run it dry. Therefore taxing the people has arrived at the point where commerce is very nearly stifled. And because Dem economic policy is based on La-La lunacy and fictional climate change, there remains no manufacturing structure in place, and frankly not much of an energy grid left for the US to work her way out of the dilemma.

China has surpassed the US militarily and economically, and is now arguably the preeminent global influence. So again let me repeat-- how's the transformation workin out for ya?

[Hoot Gibson]

New generations of Americans, having elected the most incompetent and corrupt president in American history, are learning lessons about the consequences of their votes, just as those who voted for Jimmy Carter learned decades earlier. Nixon, Ford, and Carter were all unsuccessful at taming the high inflation rate that struck this country in the 70s. Biden voters will soon experience the pain that comes with combatting a high inflation rate. Unfortunately, the rest of us are also going to continue suffering from the mistakes of the Biden voters for years.

Inflation Near 40-Year High Shocks Americans, Spooks Washington

[TheRealThing]

Define willful ignorance. Live-for-today rabid Dems having gotten a taste for free money, and could therefore care less if it hurts them in the near future. In one month inflation rates have jumped from an astronomic 31 year high to now a 40 year high. Meanwhile the administration is doing it's darnedest to push through the bribe back better plan in order to give the latest installment to US gravy train riders (to include our liberal BGR residents), to keep them bought off until Dems can accomplish 'the transformation.'

AFWIW, the CBO has run the real numbers on the Biden economic plan and It is NOT paid for at all. In fact instead of 1.75 trillion in total cost which again Biden insists is paid for, the true cost is north of 5 trillion. 3 trillion of which will be added--- wait for it --- to the DEFICIT.

[Hoot Gibson]

Define willful ignorance. Live-for-today rabid Dems having gotten a taste for free money, and could therefore care less if it hurts them in the near future. In one month inflation rates have jumped from an astronomic 31 year high to now a 40 year high. Meanwhile the administration is doing it's darnedest to push through the bribe back better plan in order to give the latest installment to US gravy train riders (to include our liberal BGR residents), to keep them bought off until Dems can accomplish 'the transformation.'

AFWIW, the CBO has run the real numbers on the Biden economic plan and It is NOT paid for at all. In fact instead of 1.75 trillion in total cost which again Biden insists is paid for, the true cost is north of 5 trillion. 3 trillion of which will be added--- wait for it --- to the DEFICIT.

Even worse is the fact that the CBO has a terrible record of predicting the real cost of new legislation. The CBO always assumes that when tax rates are increased, tax revenues will increase as if the new tax burdens will have no negative impact on the economy.

[TheRealThing]

^^ Agree. Lack of economic productivity and the government's quashing of the energy sector will more than offset any proposed tax increases. It's obviously a recipe for disaster.

[plantmanky]

Define willful ignorance. Live-for-today rabid Dems having gotten a taste for free money, and could therefore care less if it hurts them in the near future. In one month inflation rates have jumped from an astronomic 31 year high to now a 40 year high. Meanwhile the administration is doing it's darnedest to push through the bribe back better plan in order to give the latest installment to US gravy train riders (to include our liberal BGR residents), to keep them bought off until Dems can accomplish 'the transformation.'

AFWIW, the CBO has run the real numbers on the Biden economic plan and It is NOT paid for at all. In fact instead of 1.75 trillion in total cost which again Biden insists is paid for, the true cost is north of 5 trillion. 3 trillion of which will be added--- wait for it --- to the DEFICIT.

What free money have they gotten so far though?

---

So my wife does most all the shopping for the house. I had to go to Krogers yesterday for a few items. O M G

The price increases, just haven't noticed it but at the pump (dont eat out much either).

Makes me want to sell the rental properties and start building the bunker.

[Hoot Gibson]

Define willful ignorance. Live-for-today rabid Dems having gotten a taste for free money, and could therefore care less if it hurts them in the near future. In one month inflation rates have jumped from an astronomic 31 year high to now a 40 year high. Meanwhile the administration is doing it's darnedest to push through the bribe back better plan in order to give the latest installment to US gravy train riders (to include our liberal BGR residents), to keep them bought off until Dems can accomplish 'the transformation.'

AFWIW, the CBO has run the real numbers on the Biden economic plan and It is NOT paid for at all. In fact instead of 1.75 trillion in total cost which again Biden insists is paid for, the true cost is north of 5 trillion. 3 trillion of which will be added--- wait for it --- to the DEFICIT.

What free money have they gotten so far though?

---

So my wife does most all the shopping for the house.  I had to go to Krogers yesterday for a few items.  O  M  G   

The price increases, just haven't noticed it but at the pump (dont eat out much either). 

Makes me want to sell the rental properties and start building the bunker.

The gas prices have not risen nearly as much in Kentucky as they have in most other states. The gas prices could easily be reduced if the Biden administration did nothing but reinstate Trump's energy policy, including restoring the canceled pipeline projects, reopening areas for federal leasing, and reversing the policy changes on fracking. Liberals want higher gas prices because until gas prices become unaffordable for most Americans, sales of electric vehicles will remain dismal.

[jetpilot]

https://www.cnn.com/2021/10/11/business/...index.html
.
It appears as if OPEC is holding all the cards right now.

The cost of energy was dirt cheap in the spring of 2020 as roads and airports sat nearly empty during the height of the Covid-19 pandemic.

Energy demand is back today as the world economy reopens -- but supply simply hasn't kept up. That's why US oil prices have skyrocketed $120 since crashing to negative $40 a barrel in April 2020. US oil prices finished above $80 a barrel on Monday for the first time in nearly seven years.

While demand is strong, oil supplies have simply not kept pace.
US oil production has been slow to rebound from Covid -- even as prices have surged. Many US oil companies are leery of once again oversupplying the market and they are far more focused on returning cash to shareholders who have lost gobs of money over the past decade.

Another link to CNN by a Republican (wink wink nod nod) You are the only Republican (wink wink nod nod) who can't figure out what the Biden regime has done to energy independence in this country in one short year. He actually started on day one.

[TheRealThing]

ttt

[TheRealThing]

https://www.cnn.com/2021/10/11/business/...index.html
.
It appears as if OPEC is holding all the cards right now.

The cost of energy was dirt cheap in the spring of 2020 as roads and airports sat nearly empty during the height of the Covid-19 pandemic.

Energy demand is back today as the world economy reopens -- but supply simply hasn't kept up. That's why US oil prices have skyrocketed $120 since crashing to negative $40 a barrel in April 2020. US oil prices finished above $80 a barrel on Monday for the first time in nearly seven years.

While demand is strong, oil supplies have simply not kept pace.
US oil production has been slow to rebound from Covid -- even as prices have surged. Many US oil companies are leery of once again oversupplying the market and they are far more focused on returning cash to shareholders who have lost gobs of money over the past decade.

^^ You got the wink wink--- nod nod stuff right Jet.

Try to focus here Outsider and I know it's probably not all that easy in your case. Take lumber for a parallel example. According to reports, the lumber shortage is attributable to the fact that lumber producing entities are very much limited to how much lumber they can produce owing to government CV-19 mandates.

This has caused lumber to become far more scarce and as the result, lumber costs have skyrocketed.  In other words the sole contributing factor to screamingly high lumber is government regulation. --- Same with crude oil. On Jan 20, 2021 Biden brought the full force of the federal government to bear on oil producers, and directly caused oil to become much more scarce. Hence the astronomic rise in price from $1.86 per gallon when Joe got elected to $3.13 per gallon at present. But in both cases when costs double or triple, people merely stop buying gasoline and lumber.

Oil companies make money SELLING oil. The more they sell the more they make. Don't try and razz-ma-tazz me with that weak stuff you put out about oil companies trying to repay stockholders because they're scared all of a sudden to sell gasoline.  Absurd

[Hoot Gibson]

Federal Reserve Chairman Powell says inflation poses 'severe' threat to job market
Powell also said Fed will raise rates higher than initially planned, if needed

[Hoot Gibson]

More bad news for Democrats. As James Carville once said, "It's the economy, stupid." Jimmy Carter will die confident in the knowledge that he was not the worst president in American history. Joe Biden will never have the mental capacity to realize that he is the worst president in American history by a wide margin that grows every day.

Poll: Economy the Top Issue in Determining How Americans Will Vote in Midterm
A majority of Americans say the economy is the top issue in determining how they will vote in the midterm elections, a Redfield & Wilton Strategies survey released this week found.

The survey asked respondents to identify which issues are “most likely to determine” how they will vote in the November 8, 2022, midterm elections, allowing them to choose up to three.

A majority, 57 percent, selected the economy, identifying it as the top issue that will determine how they vote later this year. Just over one-third, 34 percent, said “healthcare,” and 33 percent said the Chinese coronavirus pandemic:

The economy is the most-selected option for both 2020 Joe Biden (56%) and Donald Trump (64%) voters. Other important election issues for Biden voters include healthcare (43%) and the pandemic (42%), while Trump voters are more likely to select immigration (37%) and Government spending (29%).

The poll was taken February 6, 2022, among 1,500 eligible voters.

The survey coincides with America experiencing the worst inflation in 40 years, as consumer prices jump 7.5 percent higher and consumer sentiment drops to a 10-year low.



As Breitbart News detailed:

Food prices rose seven percent compared with a year ago, data from the Department of Labor showed on Thursday. Grocery store prices were up by even more, 7.4 percent.  The Consumer Price Index rose by 7.5 percent.

Inflation is now not only running high but it has broadened to an economy-wide phenomenon. Home furniture prices are up 9.3 percent compared with last January and rose 1.6 percent last month. Prices for the category of “living room, kitchen, and dining room” furniture are up an eye-popping 19.9 percent compared with a year ago. They rose 2.2 percent compared with December.

Importantly, these prices are seasonally adjusted so they cannot be explained by typical the end of holiday shopping season sales.

Late last week, President Biden said he was “proud” of the January jobs report despite the fact that just one percent of Americans view the economy as excellent.

[Hoot Gibson]

I hope that Biden voters are paying attention to the cause and effects of electing nitwits to the two highest positions in our federal government.

Inflation rises to highest level in 40 years in metric used by Fed

Inflation rose to the highest level in four decades in January in the gauge preferred by the Federal Reserve, increasing pressure on the central bank to move quickly to curb price gains.

Prices rose 6.1% in the year ending in January, according to the Personal Consumption Expenditures Price Index updated Friday by the Bureau of Economic Analysis. Inflation is up three-tenths of a percentage point from the month before and at a rate not seen since the end of the era of the Great Inflation in early 1982.

The Fed's target for inflation, in comparison, is 2%, as measured by the same index. The major overshoot of inflation has forced Fed Chairman Jerome Powell to scramble to tighten monetary policy and led to accusations that the central bank is behind the curve. High prices have also led voters to sour on President Joe Biden's stewardship of the economy and hurt support for his proposals for new federal spending.

The price increases in January were driven in large part by a major rise in the cost of energy — more than a quarter over the course of the year, a phenomenon that has particularly hurt drivers paying more for gas. Food prices, too, rose nearly 7% over the course of the year.

[Hoot Gibson]

This thread is a reminder to those who are gullible enough to believe Joe Biden when he blames Russia for the staggering inflation rate that has afflicted this nation since he assumed office. It will take decades for this country to recover from this train wreck presidency. Objective observers recognized where our economy was headed because many of us lived through the single term of Jimmy Carter. Joe Biden is roughly four times as bad on every major issue than Carter was, so a single term will be the equivalent of a four-term Carter presidency.

[Hoot Gibson]

The price of a gallon of regular unleaded at my local Sunoco is now $5.07. Of the ten closest gas stations to my home, the price is over $5.00 at nine of them and and the other one it is selling the low price of $4.99/gallon. How many people are going to vote for even higher gas prices in November?

[Hoot Gibson]

Out of control federal spending, as conservatives have warned for may years, results in automatically increased inflation and spending beyond forecasts because of rising interest rates. Eventually, interest on the national debt will eat up most of the money spent by the federal government.

Liberal Democrat politicians will be encouraging Antifa and BLM thugs to take to the streets to protest Supreme Court rulings until election day, but inflation will remain the top issue on election day, along with the billions of dollars of damages caused by rioting, arson, and looting committed by Democrat thugs. 

If you are looking for treason and sedition, look no further than Democrats serving in Congress and in the White House. When Democrats urge violent groups like Antifa and BLM to peacefully protest, they do so with the full knowledge that the criminals will use the protests as an excuse for violence and looting. As the mayhem continues, remember to thank a Democrat for voting for Joe Biden and a straight Democrat ticket. Votes have consequences. 

Democrats own the high rate of inflation, the net shrinkage of wages, and the violence that is only beginning as liberal politicians desperately attempt to hold onto their lucrative positions for which you and I pay.

U.S. Paying More to Borrow as Fed Raises Rates, Inflation Stays Elevated
Interest costs on national debt are up 30% this fiscal year and could increase more

Yields on U.S. Treasurys are rising as the Federal Reserve lifts interest rates to try to cool inflation, a development that could increase the federal government’s borrowing costs over time to levels higher than currently projected.

Government spending on net interest costs in the fiscal year that began last October totaled about $311 billion through May, a nearly 30% increase from the same period a year earlier, according to Treasury Department data. While the annual federal deficit has narrowed 79% this fiscal year, the higher borrowing costs are a rising government expenditure at a time when other federal spending is declining and tax revenue is increasing.

[Hoot Gibson]

This train wreck presidency continues to set records. I never thought that I would live long enough to see a U.S. president to make Jimmy Carters accomplishments look superhuman in comparison. Carter was a screw-up, to be sure, but Biden is in a league of his own. Are you feeling the pain yet, those of you who voted for this moron? 

Who would have thought that a crooked, senile politician with a long history of dishonesty and mediocrity as a life long federal employee would have made such a poor president?


Inflation rose 9.1% in June, even more than expected, as price pressures intensify

[WideRight05]

^At this rate the inflation numbers may actually surpass the number of genders the Biden administration recognizes.