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National Review
National Review
11 Apr 2024
John Fund


NextImg:The Corner: The Inflation Dragon Hasn’t Been Slain

The 3.5 percent year-over-year increase in the Consumer Price Index — announced on Wednesday — is a reminder that President Biden’s most conspicuous failure has been that he broke the 2 percent ceiling on inflation that had been kept in place for the last 30 years.

Consumers instinctively pay more attention to the dollars they have to shell out than they do to any increases in their paychecks. They naturally blame Biden for the fact they are paying 20 percent more for milk, 30 percent more for bread, and over 50 percent more for eggs than they were in 2020. Rent is up more than 20 percent, electricity by 30 percent, and gasoline by 29 percent.

Topping off all this are higher interest rates which have locked many people out of buying their first home or getting a new car.

The Biden White House professes to be baffled as to why this administration’s poll numbers continue to deflate even with good job numbers. They forget that inflation is the cruelest tax, and it’s the one voters are reminded of every time they buy something