There is not a shortage of data that shows that major worries about the United States economy — especially about inflation. A new survey finds that inflation is the top worry of Americans. However, White House media secretary Jen Psaki saying that Americans who are pessimistic about Democrats’ economy are that way because of “Americans’ psychology” about the covid pandemic.
Inflation in Nov. was 6.8% — the highest in almost 40 years.
Gas prices went up 58.1% over the previous year, and heating oil went up 34.3%. Besides increasing energy costs, Americans also are being forced to pay a lot more for food. The cost of bacon went up 21%, veal and beef prices increased by 20.9%, pork chops are higher by 12.7%, chicken went 9.2% higher, fish and eggs rose 8%, coffee went up 7.5%, and cereal is now up 5.7%.
Prices for consumer goods also exploded from last November. Furniture is up 12%, laundry equipment increased by 9.2%, bikes are now up 9%, and outdoor equipment and tools increased 6.9%.
The U.S. Dept. of Labor reported that used truck and car prices went up by 31.4% y/y, and rental cars climbed 37.2%.
Another month of rising prices under Biden:
Gas: +58.1% since last year
Propane & Firewood: +34.3%
Used Cars & Trucks: +31.4%
Hotels & Motels: +25.5%
Car & Truck Rentals: +37.2%
— Jacki Kotkiewicz (@jackikotkiewicz) December 10, 2021
A survey released this past Friday discovered that inflation has “firmly eclipsed” covid as the top concern.
Almost half of Americans say that inflation caused them “financial hardship,” as reported by a Gallup poll published earlier this month.
A Yahoo News survey published last month stated that 77% of Americans report inflation was personally harming them. A clear majority — 57% — say that President Biden is to blame for the higher prices.
The White House tried to deflect the blame for inflation. Psaki blamed it on “people’s psychology” for negativity about the current economy.
During Friday’s White House media briefing, a reporter mentioned a recent NPR/Marist poll that said 61% of Americans report that the nation is moving in the wrong direction. The journalist then asked Psaki, “What is the White House’s view about why Americans are so pessimistic concerning the economy and for direction of the country?”
Psaki said, “Why are Americans experiencing things, and we have talked about this some before. But, you know, much of it — what we are seeing in our data is Americans’ psychology about the economy, on how they are experiencing things in the nation right now is related to coronavirus and the fact that COVID — we are still fighting against this virus.”
“People wanted it to be over sooner,” she said. “We have newer variants that have popped up. And people are wanting to get back to normal life.”
Psaki blames Covid for why people are so pessimistic about the economy:
“People’s psychology on the economy, on how they’re experiencing things in the country right now, is related to Covid.” pic.twitter.com/szzkr96hYo
— The First (@TheFirstonTV) December 10, 2021
Author: Scott Dowdy