CNN Can’t Even Spin Biden’s Economy
CNN can no longer try to put a spin on sky-rocketing inflation to make this Democratic administration look even somewhat productive.
Rahel Solomon, a CNN Business correspondent put it bluntly this week on the network saying that American life is âbeing shaped by the really high inflation,â which topped 8.6% in May.
âWell, I think for a lot of Americans, their reality is being shaped by the really high inflation. We know, under the hood of that number, itâs really high energy prices, really high food prices. The costs of new and used cars have gone up, pretty much everything broad-based has gone up. The cost of shelter has gone up, which has some economists really concerned,â Solomon stated with candor.
She went on to say if you are an American, it is really hard to âfeel greatâ about the economy. And she used a personal story to highlight just how difficult things have become.
Solomon said that even though her world is talking to economists, traders and analysts, she still is shocked when she goes to the grocery store and looks at the prices. She said it makes her understand how bad it is for others around the country.
On CNN, Solomon was talking with anchor Ana Cabrera. They discussed a new Monmouth University Poll that revealed almost 9 in 10 American adults believe that the United States is moving in the âwrong directions.â
CNN Rahel Solomon: âPretty much everything broad-based has gone up [in price]â
Energy prices up
Food prices up
New & used car prices up
Shelter prices up pic.twitter.com/sHzDfpHBmg
â RNC Research (@RNCResearch) July 6, 2022
The poll also found that inflation and record-high gas prices are what concern Americans the most right now. This should be alarming to the Democratic Party because they control both the White House and Congress.
When you put together poll numbers like these with Bidenâs low approval rating, itâs not hard to project what the midterm election results will be in November of this year.
We do not have inflation figures for June yet from the Bureau of Labor Statistics. But most experts agree that we will probably see the consumer price index show another inflation increase.
Inflation continued to significantly rise in Europe last month.
With even CNN painting a bleak picture of the economy, the Biden Administration continues to push a trillion-dollar tax-and-spend plan. They spend much of 2021 dismissing the rising inflation as something transitory. And now they are claiming that spending more money and raising taxes will help reduce inflation.
Here is just one of Bidenâs risky plans they may enact socialist price controls on the healthcare system. This may in the beginning reduce the cost of prescription drugs.
But even Bidenâs advisors know that price controls have never worked. They reduce the price at first, but then it leads to shortages, and the customers are harmed.
Price controls were tried in the 1970s with gasoline. But it led to long lines and shortages at gas stations.
Rather than helping reduce costs, price controls will harm the economy and threaten high-paying manufacturing jobs. And they will lead to fewer new medicines.
There was a study done by the Council of Economic Advisors that estimated that price controls could lead to 100 fewer lifesaving medicines over the next ten years. This could reduce the life expectancy of the average American by four months.
We lived through the gas shortages in the â70s and had to wait in long lines, but at least we were not sick while doing it.
Even CNN canât spin this reality.