Welcome To Bidenflation

Unleash Prosperity Hotline
Issue #389
10/14/2021
1) Welcome To Bidenflation

Then:
CPI average annual increase 2016-2020         2.0%
Energy CPI                                                      1.2%

Now:
Year to date: Prices up                                     4.8%
September inflation annualized                       6.4%
Producer Price Index Sept.                              8.4%
Energy year over year                                   24.8%
Autos                                                               8.7%
Used cars and trucks                                     24.4%
All Commodities CRB Index over last year     62.1%

And wages are rising but not as fast as prices.

2) Biden White House Stuck Between Sinema And Manchin Demands

Talks between the Biden White House and Senator Kyrsten Sinema of Arizona over the Biden Budget Buster bill are, to put it mildly, tense.

White House Press Secretary Jen Psaki was asked on Wednesday about how talks with Sinema over the president’s plan to raid Medicare of $500 to $700 billion of prescription drug spending were going.

“We’ll let her speak to her position,” Psaki said tersely.

Sinema isn’t speaking much because she won’t negotiate in public. Politico reports that she told one Democratic senator recently. “I’m not mysterious. It’s not that I can’t make up my mind. I communicated it to the White House in detail. They just don’t like what they’re hearing.”

What the White House especially dislikes is that Democratic Senator Joe Manchin and Sinema often oppose different parts of the Biden bill. Manchin, who hails from coal-producing West Virginia, taxes on carbon pollution, while Sinema favors them. Manchin is also more willing to raise corporate and individual income taxes than Sinema.

Sounds to us as if the stalemate between the two Senate holdouts and progressives is very real – but you never know with politicians. Ironically, the White House and their progressive allies have persuaded themselves that the more Americans understand what is in this bill, the more they will like it. We’re pretty sure of the opposite. It’s pretty hard to sell the American people on cash for clunkers.

https://news.yahoo.com/manchin-sinemas-very-different-bottom-112335491.html

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