Keyword: prices
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American drivers pay 45 percent more to fuel their daily commutes since President Joe Biden ascended to the White House, AAA data shows. The national average gas price on Monday was $3.46 per gallon, according to AAA, up about 20 cents from last month. When Biden assumed office, the national average was $2.38 per gallon, more than a dollar less than the current price. That is about a 45 percent increase since former President Donald Trump left office.
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During an interview with ABC News on Thursday, White House Senior Adviser Gene Sperling stated that “people have been through a tough few years” but the PCE (Personal Consumption Expenditures) price index reading is “very close to normal” and “prices are moving in the right direction” and “moderating.” But you can’t expect them to not go up. Sperling said, “It’s been a tough few years since the pandemic,” but “inflation is coming down. In fact, it was really 2.4% in this measure, 2.8% if you don’t include food and gas. And that’s not good enough, but it is very close...
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On Tuesday’s broadcast of NewsNation’s “Cuomo,” Biden Campaign Co-Chair Rep. James Clyburn (D-SC) acknowledged that “food prices are up” under President Joe Biden, but the price of medicine is down, there are jobs being created, and infrastructure improvements. While discussing the campaign, host Chris Cuomo said, “The counterargument is, no, I’m getting killed at the grocery store, Congressman, I’m getting killed at the grocery store on Biden’s watch. I’m getting killed with inflation. And, on the culture side, half your party is crazy. And I feel that so much that I believe I can pick off some of these black...
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Food will become even more unaffordable if a Democrat wins the White House this November, due to destructive climate policies, a report warns.Americans have already spent a record-high portion of their disposable income on food since Joe Biden became president. A new study by the Buckeye Institute warns that food will become even more unaffordable if Biden or any other Democrat wins the White House this November due to their destructive climate policies. The Wall Street Journal reports that based on data from the U.S. Department of Agriculture (USDA), food spending ate up about 11.3 percent of American households’ disposable...
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Eating costs more in Biden's America. The last time this much of your income went to buying groceries was 30 years ago. Inflation may be ebbing but food costs are not. Don't look for relief any time soon. Restaurants and food companies are dealing with rising labor costs and the rising costs of some ingredients, like cocoa Prices at restaurants were up 5.1% last month compared to January 2023. Grocery costs increased 1.2% during the same timeframe. The sad fact is that once food items go up in price, they don't come back down. Shoppers have to adjust to the...
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This reminds me of “The Human Farm” episode of Parks and Recreation. A new report from the US Department of Agriculture forecasts that US farmers are poised for another year of financial misery, facing the most significant decline in incomes in almost two decades as crop prices slide and US dominance in ag exports wanes. USDA forecasts net farm income, a broad measure of profits, to plunge $39.8 billion, or 25.5%, to $116.1 billion in 2024. This follows a forecasted decrease of $29.7 billion, or 16%, from 2022 to $155.9 billion in 2023. If the estimate holds, farmers face the...
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In the intricate web of financial markets, the tightening of credit spreads often serves as an ominous overture to broader economic shifts. The current scenario, driven by a focus on liquidity, raises concerns about what lies ahead, hinting at potential storm clouds on the economic horizon. The ripple effects begin with a spotlight on auto loans, where many find themselves submerged in financial challenges. A concerning trend emerges as individuals resort to running up credit, not with the intention to repay but rather to navigate the inflated prices of goods. The influx of excessive government money has created a surge...
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On Friday’s broadcast of CNBC’s “Squawk Box,” Energy Secretary Jennifer Granholm stated that part of the reason for the slowdown in electric vehicle demand is due to the fact that they’re more expensive than gas cars and there’s “a confusing tax incentive market.” Co-host Andrew Ross Sorkin asked, “[T]here’s been a big push, obviously, from government, and, frankly, I think we thought from the marketplace, for EVs and what that would ultimately do to the interests of oil and what not. However, there is clearly a slowdown taking place, and we’re seeing it, by the way, Tesla stock is down,...
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Baby, it’s cold outside! Of course, government still wants to ban natural gas and coal. The average price of electricity has risen a whopping 24.25% under Biden and Bidenomics. Brrr!! No wonder Biden only wants to talk about unlimited abortion and NOT the immigration (Fentanyl, child trafficing, crime, etc) fiasco at the border and continually rising prices. Or Biden’s growing wars. The NASDAQ commodity index RATIO is getting back to dot.com era bubble levels.
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So, picture this – you're craving a good ol' Cook Out tray, and you head to your favorite joint, excited to indulge in some comfort food. But wait, reality hits harder than a well-cooked burger because, thanks to #Bidenomics, that tray is now costing you a whopping 28% more than it did just three years ago. Yes, you heard it right – 28%. Remember those days when Biden had his previous photo op, and life seemed a bit more affordable? Well, those days are now replaced with a sizzle and sting combo as the prices on the menu keep climbing...
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On Friday’s broadcast of CNBC’s “Squawk Box,” Energy Secretary Jennifer Granholm responded to concerns that emulating some of California’s policies will drive gas prices higher by stating that it’s “less expensive to operate an electric vehicle” and people get tax benefits “if they are able to take it up, and if they’re able to afford a lease.” After Granholm mentioned that refineries are being converted to biofuels due to policy incentives, co-host Becky Quick said, “[T]o see some of these policies embraced in California where they say we want to be at peak gasoline usage, and, as a result, we’re...
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President Joe Biden’s attempt at celebrating lower gas prices is not going over well. On Thursday, Biden posted on X, formerly Twitter, “Right now, the average driver in America is spending over $100 less than if gas prices had stayed at their peak.” The post comes as AAA reports the average price for a gallon of gas sits at $3.09 per gallon, down from $3.26 a year ago. In June 2022, the national average price for a gallon of gas hit $5. However, the post did not go over well with users on X. SEE REPLIES AT LINK................ While gas...
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This infuriating year, marred by relentless inflation, epitomizes the struggle of everyday Americans. Families, like Kyle Connolly’s, grapple with layoffs, escalating living costs, and diminished luxuries. The glaring disconnect between positive economic indicators and the grim reality faced by communities like Florida’s panhandle underscores the systemic issue. While the Federal Reserve boasts about curbing inflation, families bear the brunt, with the University of Michigan’s consumer sentiment index revealing a stark decline from pre-pandemic levels.
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Do you believe the politicians in Washington or do you believe your own eyes? The politicians keep telling us that “inflation is low”, but everyone can see that everything sure does cost a lot more than it once did. Our standard of living just keeps going down, and even JPMorgan Chase CEO Jamie Dimon is admitting that “inflation is hurting people”. But how can inflation be “hurting people” if it is under control? Of course the truth is that it isn’t under control. If the official rate of inflation was still measured using the formula that was in place in...
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After being left alone for the holidays, eight-year-old Kevin McCallister famously went grocery shopping in the 1990 classic "Home Alone," purchasing a large haul of food and everyday household items for under $20. With today's prices, however, McCallister would need a lot more in his piggy bank and Americans are taking notice. Items including a half gallon of milk, a half gallon of orange juice, a TV dinner, bread, frozen mac and cheese, laundry detergent, cling wrap, toilet paper, a pack of army men and dryer sheets cost the character, played by Macaulay Culkin, $19.83. Last year, the same grocery...
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Even though inflation is still higher than ideal, many things are actually getting cheaper. But perhaps not the ones most Americans want. The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the past five months. Data released Thursday by the Commerce Department showed prices for such goods were down 2.2% in October compared with the year prior. Some economists estimate the fall in goods prices could bring inflation back to the Federal Reserve's 2% target by as early as the second half of 2024. One inflation gauge, the personal...
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INDIANAPOLIS (AP) — A federal jury in Illinois ordered $17.7 million in damages — an amount tripled to more than $53 million under federal law... The jury ruled last week that the egg producers used various means to limit the domestic supply of eggs to increase the price of products during the 2000s. The time frame of the conspiracy was an issue throughout the case; jurors ultimately determined damages occurred between 2004 and 2008... Food manufacturers joining as plaintiffs in the lawsuit against the egg producers are Kraft Foods Global, Inc., The Kellogg Company, General Mills, Inc. and Nestle USA,...
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President Joe Biden has been humiliated after bragging about reducing the prices of gas, groceries, and airline flights in a speech on Monday. Republicans were quick to refute Biden's claim, taking to social media platform X to call him out for misinformation. The Republican National Committee wrote: "'FACT: Since Biden took office, airfare is up 21 percent, Thanksgiving dinner was up 25 percent, and gas prices are $0.86/gallon higher." This has proven to be yet another instance of Biden struggling to prove and garner support for his administration's economic policies and plans, something that is especially important in the run-up...
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The White House has announced it plans to use a cold-war era law to ease supply chain issues that the administration argues are contributing to higher inflation – a key electoral challenge to Joe Biden’s re-election chances next year as polling consistently suggests voters are not buying his Bidenomics pitch. In a statement, the White House said Biden will use the Defense Production Act to improve the domestic manufacturing of medicines deemed crucial for national security and will convene the first meeting of the president’s supply chain resilience council to announce other measures tied to the production and shipment of...
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