So we have been on an exceptional spending spree.
Inflation is back.
"The latest June data already show
price inflation at a 13-year high, with prices having risen 5.4 percent year-over-year. Proponents of the big-government policies driving much of this increase insist the uptick in prices is only temporary. But billionaire and grocery chain CEO John Catsimatidis just
predicted that overall price inflation, for consumer goods generally, will hit a 6 percent annualized rate by October.
In an
interview with
Fox Business, the CEO warned that his industry is seeing skyrocketing costs on the supply chain side, and that businesses will have to raise prices for consumers as a result.
“Food prices are getting higher, and we expect even more increases by October,” Catsimatidis said. “You have to pass [those extra costs] on [to consumers] or you’re not doing your duty to God, your country, your employees, and your company.”
While we can’t know for certain, Catsimatidis said rising costs could mean an
astounding 10 to 14 percent specific increase in grocery prices by October. That’s truly a shocking amount. But this warning offers more than insight into the grocery industry. It’s a painful reminder of how price inflation hurts everyday Americans."
“Food prices are getting higher, and we expect even more increases by October,” billionaire and grocery chain CEO John Catsimatidis said.
fee.org
Unrestrained spending is leading to the above issues.
With that in mind consider that the Dems want a 3.7 trillion "infrastructure bill". To put that into perspective. In 2019 the entire budget was 4.4 trillion.
If that thing passes, get ready for a lot more "unintended" consequences. Inflation being one of them.
By the way, been to a gas station recently?
All this spending hurts everyone, but really hurts the people that can least afford it.