Joe Biden’s Presidency is in total free fall after less than a year.
His catastrophic approval ratings show what a disaster he’s been.
And he’s panicking after he got hit with this devastating news.
Joe Biden’s mismanagement of the economy is taking the country back to the days of Jimmy Carter.
The economy is stagnating and inflation is surging to levels that haven’t been seen in generations.
The COVID-19 crisis has seen the government spending at unprecedented levels to keep the economy afloat.
Biden came into office and quickly passed a pork-filled, left-wing special interest giveaway called The American Rescue Plan.
The bill flooded the economy with nearly $2 trillion – more than twice the amount of Obama’s disastrous “stimulus” bill that prolonged the recovery from the Great Recession throughout his entire Presidency.
As a result, inflation is soaring and Biden was hit with some shocking numbers about how bad it’s hitting Americans.
The Consumer Price Index (CPI), which measures the average change in prices over time of key consumer goods and services surged by 6.2% for the month of October.
This is the largest increase in more than thirty years.
The cost of everything is surging across the board, battering consumers.
Biden’s own Bureau of Labor Statistics said that increase was broad-based with energy, food, shelter, and car prices rising.
Even worse for Americans is inflation is growing faster than the rate of wage gains over the past year.
Biden and his Treasury Secretary Janet Yellen have tried to spin inflation as “transitory” and related to hiccups in the reopening of the economy after the pandemic.
After this new report, it’s becoming clear that inflation isn’t going anywhere.
This latest bad news on inflation could spell doom for the centerpiece of Biden’s agenda: the socialist $3.5 trillion “human infrastructure” bill.
Senator Joe Manchin (D-WV), a key vote on the bill, has expressed concerns over rising inflation.
He and other vulnerable Democrats could kill the bill over inflation concerns.
With inflation soaring it promises to be an albatross around the necks of Joe Biden and Democrats moving forward.
Stay tuned to Conservative Underground News for any updates to this ongoing story.