Inflation Soars to New 40-Year High of 7.9% in February as Gas and Groceries Skyrocket

While President Biden puts the blame on Russian Dictator Vladimir Putin, it’s clear that America’s economic woes began long before the Ukrainian invasion. Despite what Jen Psaki says, blaming Putin for gas hikes, Biden’s economic path of destruction is continuing into 2022 with no signs of slowing down.

Some analysts had expected things to ease early this year as supply chain problems worked themselves out, no thanks to the Biden administration or Pete Buttigieg’s stellar leadership.

However, in the month of February, prices rose a staggering 7.9%, a new 40-year high thanks to Biden’s inability to manage the nation’s economy:

The consumer price index, which measures a wide-ranging basket of goods and services, increased 7.9% over the past 12 months, a fresh 40-year high for the closely followed gauge, according to the Labor Department’s Bureau of Labor Statistics.

The February acceleration was the fastest pace since January1982, back when the U.S. economy confronted the twin threat of higher inflation and reduced economic growth.

On a month-over-month basis, the CPI gain was 0.8%. Economists surveyed by Dow Jones had expected headline inflation to increase 7.8% for the year and 0.7% for the month.

Food prices rose 1% and food at home jumped 1.4%, both the fastest monthly gains since April 2020, in the early days of the Covid-19 pandemic.

Blame Putin? Sure, that’s what the Biden administration suggests and even insinuates you’re unpatriotic if you don’t. It’s the old tactic of hiding behind patriotism while imposing bad policies on the country.

As Biden said before, paying higher taxes is patriotic, just like paying more at the gas pump to allegedly hurt Putin, though the Russian dictator won’t be feeling pain as his country will just sell its oil to China instead.

What’s patriotic about trying to buy oil from Iran, the largest state-sponsor of terrorism, a country responsible for the deaths of thousands of American troops? Is that patriotic?

The cold hard truth for Biden’s inflation deflection is that prices were rising and the inflationary growth was accelerating before Ukraine became a red-hot issue:

CNN’s Romans: Under Biden, Americans face the highest consumer price spike in 40 years.

Inflation was “accelerating” even BEFORE the Ukraine crisis. pic.twitter.com/pT5IeOr6YP

— RNC Research (@RNCResearch) March 10, 2022

This is a tax on all Americans of every income level. When Biden looks into the camera and says anyone making above $400,000 won’t see their taxes raised under his economic plan, he might be right. What he’s ignoring is that the lowest income earners are getting crushed by higher prices on everyday goods by what amounts to far worse than a tax increase.

So far Biden’s America looks like record inflation, record Covid-19 deaths, bungled foreign policy, America losing energy dominance, and a country stuck deep in a 1970s-style malaise. We might even have a new hostage crisis on our hands to really bring back that Jimmy Carter vibe.

This is Biden’s lasting tax on all Americans, a tax that hits every facet of life. When asked, answers like “buy an electric car” speak to how disconnected this administration is from reality and how flippant they are toward the plight of the lower and middle class in this country. Can we buy electric groceries, too?

The rising fuel costs will sting every product on the store shelf in coming months and the strong likelihood is that the economic crisis at home, under Joe Biden’s failed leadership, will worsen for months to come.