The liberal media had a field day with a clip from the Oval Office this week in which President Trump said he “loves inflation.” Obviously the President didn’t mean he actually loves inflation. As he later clarified to the New York Post, he meant he had expected it to be much higher after U.S. strikes on Iran. But you can already see the Democrats cutting their midterm ads from the clip.
And those ads will resonate, because of something the President and his cabinet seem unable to acknowledge: Inflation is really bad.
Average Americans are broke.
It’s not just vibes.
People *feel broke because they are broke.
A year’s worth of wage gains produced by the President’s stellar economic agenda has vanished over the last four months.
The Producer Price Index rose 1.1% in May, lifting the annual rate to 6.5%, its highest in more than three years
Gas is up.
Groceries are up.
Electricity is up.
Insurance is up.
A lot of this is the result of the President’s noble effort to rid Iran of nuclear weapons. But that’s taking longer than expected. In the best case scenario, if the current deal is real and signed, it will be a month or two before costs come down.
People are putting gas, milk, and cereal on their credit cards. They are using buy now, pay later schemes for the barest of necessities. Household credit card debt has reached an all time record high.
They need help and they need it now.
For the third week now, I am calling on the President and his administration to issue stimulus checks to working-class Americans to weather the storm.
The President should also put a limit on oil exports, forcing oil companies- who are raking in billions off this war- to keep more of that supply here at home, to bring down the cost at the pump.
And he should put an immediate moratorium on farm foreclosures, protecting our farmers. As Farmer John Boyd Jr. told us on this show last week, another one or our precious farmers has committed suicide out of sheer despair.
These are my ideas—but what ideas are being cooked up in the Republican caucus to help struggling Americans?
I was so honored to be joined by Senator Tim Scott of South Carolina to discuss the economy, Iran, and the midterms.
