Washington, D.C. – Catherine Cortez Masto still doesn’t seem to understand the problem she created. Following last week’s report that the cost of everyday goods spiked to a 40-year high and real wages are shrinking, Cortez Masto doubled down on her support for a reckless spending spree that would only push inflation rates even higher.
While Democrat leaders like Joe Biden, his Nevada crony Catherine Cortez Masto, and the socialists running the Nevada Democratic Party brush off the skyrocketing price of everyday goods, Nevadans are taking notice.
CLICK HERE or read below to learn about the negative impacts of Cortez Masto’s radical agenda.
Las Vegas Review-Journal Editorial Board: Joe Biden, Democrats and the Misery Index
But these arguments completely ignore the financial difficulties that higher prices impose on individuals and families on the front end. Without significant wage gains, the low-income are far more vulnerable to the pain of inflation because they tend to spend a higher percentage of their earnings on necessities.
Yet the Labor Department reported last week that the highest annual U.S. inflation rate in 40 years — 7.5 percent — was accompanied by a 1.7 percent decline in real wages. That spells hardship for many Americans. The Wall Street Journal reported Friday that a new economic analysis concludes “the average U.S. household is spending an additional $276 a month” thanks to higher prices “across a range of products and services, including cars, gasoline, furniture and groceries.”
Middle-class households were hit the hardest, according to the Moody’s Analytics survey, thanks in large part to higher transportation costs.
One might think this would be a priority for this administration, but the president isn’t acting like it. Mr. Biden remains in a state of denial about his own role in creating the problem, for one. Meanwhile, it’s doubtful many Americans could name a single concrete action that the White House has taken to address inflation — in fact, the president seems insistent on worsening matters by continuing to campaign for additional economic “stimulus” in the form of another spending spree. This has caught the attention of congressional Democrats, who realize the issue could cost them their jobs […]
Some vulnerable Senate Democrats — including Nevada Sen. Catherine Cortez Masto, who is up for re-election this year — have become so desperate as to endorse a scheme to suspend the federal gasoline tax to help ease prices at the pump. This would be amusing if it weren’t so dishonest — Sen. Cortez Masto has supported every administration effort to hamstring the domestic energy industry. If she were really concerned about fighting inflation rather than self-preservation, she’d follow the example of Sen. Joe Manchin and withdraw her support for any other inflationary progressive spending bills.
Americans who lived through the 1970s are familiar with the Misery Index, a measure that combines inflation and unemployment. In December, the index topped 11 percent for the first time in almost 15 years, not counting the early days of the pandemic. If Mr. Biden doesn’t soon come to terms with the fact that the progressive advocates of modern monetary theory — the idea that the nation can print and spend money without limit — are leading his administration into the ditch, his party will find itself dealing with its own Misery Index come November.
###