Why the US is losing the war on inflation — Analysis
Rising prices may be the Democrats’ undoing in midterms, so no wonder Joe Biden gets riled up when asked about it
US President Joe Biden got in trouble after inflicting a Fox News reporter in an insult on the Hot Mic. Peter Doocy was more amused then angry at the insult. “stupid SOB”By the Oval Office’s big man. And with most of the US media on the Democrats’ side, the president will hardly be branded an enemy of the free press over the incident, unlike his Republican predecessor.
An inquiry on inflation by Biden and whether it was considered a liability in the context of midterm elections triggered an aggressive reaction. “That’s a great asset, more inflation,” the president mused, before dunking on Doocy’s mental capacities.
This response demonstrated just how serious his party is about the rate of rise in consumer prices, which has been unprecedented for decades. According to Labor Department data the US consumer price index rose 7% in 2013, marking its largest twelve-month increase since June 1982.
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