CNN is no longer able to spin rising inflation in order to make this Democratic administration appear productive.
Rahel Solomon, who works as a CNN Business correspondent, put it in a blunt manner this week on the network, saying the American lives are “being shaped by the really high inflation,” which was at 8.6 percent in May.
“Well I'm sure that for many Americans the reality of their lives is being shaped by significant inflation. We're aware that under the hood of this number it's actually expensive energy costs, and very high food prices. The cost of new and used vehicles have increased, almost everything else has been pushed up. The cost of housing has increased and some economists are very concerned.” Solomon stated with candor.
She then went on to say that If you're an American, it's difficult to “feel great” about the economy. She also used her own personal experience to show the difficulty that the situation has become.
Solomon stated that despite the fact that her world is filled with analysts, traders, and economists, Solomon is still stunned when she enters the store to buy groceries and stares at prices. She added that it helps her realize how awful it is for other people in the world.
When I was on CNN, Solomon was talking with anchor Ana Cabrera. They talked about a recent Monmouth University Poll that revealed that nearly 9/10 American adults believe America is moving in the wrong direction.
CNN Rahel Solomon “Pretty much everything broad-based has gone up [in price].”
The poll also showed that record-high inflation and record prices for gas are the things that worry Americans the most at present. This should be alarming for those in the Democratic Party because they control both the White House and Congress.
If you combine the results of these polls with Biden's low approval score, it's easy to predict what the midterm results will be in November this year.
There are no inflation numbers for June according to the Bureau of Labor Statistics. However, most experts believe that we'll probably witness consumers' price index indicate another rise in inflation.
The inflation rate continued to increase throughout Europe in the month of March as well.
If there is a rise, we can expect that the Federal Reserve will likely keep increasing interest rates. Some economists are of the opinion that this could push America into a new recession.
CNN depicts a dark image of the economy and the Biden Administration is pushing the trillion-dollar tax-and-spend program. They spent a lot of 2021 ignoring the growing inflation as a temporary phenomenon. Now they claim that spending more money and increasing taxes will reduce the rate of the rate of inflation.
Here's just one of Biden's potentially risky ideas. They could implement socialist price controls on the health system. This could initially decrease the price of prescription drugs.
Even Biden's advisors recognize that price controls haven't been successful. They cut prices initially, but eventually it causes shortages and then the consumers suffer.
Price controls were tested in the 1970s, using gasoline. However, it resulted in long lines and a shortage at gas stations.
Instead of helping cut costs, price controls can hurt the economy and could even threaten manufacturing jobs that pay well. In addition, they could result in fewer new drugs.
A study was done by the Council of Economic Advisors that concluded that price control could mean 100 fewer lifesaving drugs in the next 10 years. This could decrease the lifespan of the average American by 4 months.
We experienced gas shortages of the 1970s and had to stand in long lines for a while, but we didn't get sick in the process.
Even CNN cannot spin this fact.