Today, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing an annual increase of 9.1%.
“The President keeps blaming ‘Putin’s Price Hike’ for the worst inflation in four decades but that’s malarkey. ‘Biden’s Day One Blunder’ was killing the Keystone Pipeline, which immediately signaled his and the progressives’ attack on domestic energy production. The war on Ukraine was also catapulted by this disastrous decision since it put Europe’s energy needs in the hands of the Russians more so than ever before. We have gone from energy independent when Biden came into office to so energy dependent, he is on his way to Saudi Arabia to beg for more oil. All this administration offers is bandaids like draining our strategic reserves to its lowest point in four decades and going to other countries that don’t like us with hat in hand begging for more oil. No wonder the latest JCN Foundation Small Business IQ Poll found small business sentiment about the economy to be at its lowest point on record.”