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Inflation fear sinks in on Twitter users after consumer price index rises yet again

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The U.S. Consumer Price Index (CPI) for August dropped Tuesday and it immediately caused a stir. Prices for all items went up an average of 0.3% that month alone. This is a slight decrease from July, which saw an increase of 0.5%.

First, Producer prices rose 0.7% in August, which was less than the 1% increase the month before. Economists were anticipating a 0.6% gain. Yet, it was still the fastest annual pace on record for the fifth consecutive month. As a result, “inflation” began trending on Twitter Tuesday, with over 300,000 tweets at the time of this report.

Deputy Spokesman for House Minority Leader Kevin McCarthy (R-CA), Chad Gilmartin, called more attention to the CPI. In a tweet Tuesday, he blamed Biden and his economic plan.

“Americans are paying (literally) for Biden’s failed leadership,” Gilmartin tweeted. “And now Democrats want to spend $3.5 TRILLION on a liberal wish list.”

Rep. Elise Stefanik (R-NY) jumped on the trend. “Inflation is a tax on EVERY American,” Stefanik tweeted Monday.

A Twitter account behind Pomp Investments took the report as an opportunity to advertise its services. “The most vulnerable in society are being crushed by rising costs, while asset owners get richer,” the tweet read. “Don’t complain about it. Start investing.”

https://twitter.com/APompliano/status/1437758605420281857

Over the past year, CPI increased 5.3% overall since the last 12 months. However, some items increased by much more. For instance, gasoline is up 42.7% from last August. As a result, the energy index also increased by 2% since last month, and has been on the rise for the last three months. Similarly, used cars rose to 31.9% since last year.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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TX Federal Judge takes ‘extraordinary’ step to ‘fast track’ ruling on Biden’s student loan forgiveness, forego trial

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Just The News reported on an “extraordinary move” by one Texas judge who is prepared to cancel President Biden’s student loan debt forgiveness payments.

U.S. District Judge Mark T. Pittman, a Trump appointee, says he is ready to decide the merits of Biden’s plan and skip the preliminary injunction and customary trial.

“U.S. District Judge Mark T. Pittman had been holding a hearing on a request from the small business group Job Creators Network’s legal arm on behalf of two plaintiffs to issue a preliminary injunction blocking Biden from enacting the debt relief until the legality of his executive order was decided” Just The News reports.

However, Pittman declared “in a five-sentence, one-page order that the government and plaintiff lawyers had made all the necessary arguments and that a trial would not elicit further evidence so he is ready to move to a judgement on the merits of the case.”

“Having held a hearing on Plaintiffs’ Motion for Preliminary Injunction and reviewed the related briefing, the Court intends to consolidate as it appears that the Parties have presented their case and no evidence of significance would be forthcoming at trial,” wrote Pittman.

Pittman said he was prepared to advance the preliminary objection request “to a determination on the merits” and gave the Justice Department and plaintiff lawyers until Friday to file any objections to his plan.

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