Economics

Biden-Kamala: Responsible for the increase in the prices of the Basic Basket

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Biden and Kamala Harris are the most responsible for the increase in the price of basic basket of goods in the US.

1. Introduction

1.1 General Context

During the tenure of the Biden-Kamala regime, the United States has experienced the largest increase in market basket prices in its history, which has generated concern among consumers and has been the subject of intense political and economic debate. This phenomenon has unfolded during the 42 months of the Biden-Harris administration, which has provoked an unprecedented catastrophic period in the nation, due to its abysmal administrative management and the implementation of its neo-Marxist policies.

1.2 Aim of the Article

The aim of this article is to analyze the increase in the prices of the basic food basket in the United States during the aforementioned period. It will examine the possible causes of this situation, including economic factors and the specific policy decisions of the current administration. Special attention will also be paid to the energy policies implemented and their potential impact on food and other commodity inflation.

2. Inflation in the United States

2.1 Food Inflation Data

From the start of the Biden-Harris administration in January 2021 to the cut-off date of this analysis (April 2024), the United States has experienced a significantly elevated rate of food inflation. According to data from the Bureau of Labor Statistics (BLS), the consumer price index (CPI) for food has shown a cumulative increase above the historical average.

Food prices have risen about 25% in the last four years while Biden and Kamala have been in office.

According to data provided by Save the Children, at least 17% of children in the country are not receiving the food and care essential for their proper development

In an interview with the Voice of America, Mariana Joyal, media and alliances manager of the organization No Kid Hungry, an American organization that ensures the nutritional well-being of minors, points out that the data is very “critical” since “one in five children in the United States lives with hunger.”

“In the case of Latino children, it is almost double, it is more than one in three,” Joyal adds in this regard.

• In 2021, annual food inflation was 3.9%.
• In 2022, it rose to 9.9%, the highest rate since 1979.
• In 2023, although moderating, it remained above 4%.
• Although the CPI consumer price index has declined according to statistics, food prices remain at the same level of 25%.

An increasing number of people are turning to food donation centers for help to cover the basic needs of their homes.

2.2 Historical Comparison

 

Direct link: https://cubanamericanvoice.com/pwa.html

 

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Terrorism, Ukraine, Taiwan and the Outsourcing Wars. What all the wars of this century have in common.

In the 90s, Russia was a spent force. The consensus was that free enterprise had defeated Communism. And it had. Russia isn’t fighting for Communism, but for market dominance.

A generation later we’re watching what may be the largest outsourcing war of a new century.

Russia, like China, rebooted its economy by exploiting the growing desire of western liberalism to accommodate environmentalists and socialists by offshoring their ‘dirty’ industries.

Continue Reading …Terrorism, Ukraine, Taiwan and the Outsourcing Wars

Bidenflation: Gas at 7-Year High. The U.S. price of regular-grade gasoline is continuing to rise, with the national average hitting a seven-year high.

As of Oct. 27, the national average rose to $3.394 per gallon from $3.389 the previous day, and up from the month-ago average of $3.189, according to AAA.

“With the U.S. economy slowly recovering from the depths of the pandemic, demand for gas is robust, but the supply is tight,” AAA spokesman Andrew Gross said in a statement. “We haven’t seen prices this high since September of 2014.” 

 

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Biden Planning First Tax Hike in 30 Years. President Joe Biden is reportedly preparing to follow up with his controversial COVID-19 stimulus bill with his plan for the “first major federal tax hike” in nearly three decades.

“Unlike the $1.9 trillion Covid-19 stimulus act, the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source,” Bloomberg News reported. “While it’s been increasingly clear that tax hikes will be a component — Treasury Secretary Janet Yellen has said at least part of the next bill will have to be paid for, and pointed to higher rates — key advisers are now making preparations for a package of measures that could include an increase in both the corporate tax rate and the individual rate for high earners.”

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