When Donald Trump left office in January Joe Biden and the Democrats thought they were finished with the 45th President.
That is not the case.
And Joe Biden just got disturbed by one report that could lead to Donald Trump’s comeback.
Donald Trump’s greatest political strength during his time in office was a roaring economy.
Joe Biden hoped the coronavirus vaccines – which were developed during the Trump administration – would allow life to return to normal at a rapid pace and provide Biden a similar economic boom.
But nearly five months into the Biden administration, workers can’t be found thanks to trillions in new handouts and worries are growing that government spending is sending the economy reeling into rising prices with the massive inflation.
Hourly compensation soared much more than expected in the first three months of the year, even as millions of Americans remained on unemployment roles or out of the workforce, data from the Bureau of Labor Statistics showed Thursday.
Hourly compensation jumped 7.2 percent in the first quarter, according to the BLS’s revised estimate of labor costs and productivity. This had been reported as rising 5.1 percent in the first estimate.
Adjusted for inflation, hourly compensation rose 3.3 percent, more than twice the 1.3 percent originally reported.
This is not the only indicator that inflation is spiraling out of control.
In April the core price index – which measures the price paid for goods and services, excluding food and gas – rose by the largest amount since 1992.
Inflation is a stealth tax increase that eats away at hard-working and retired Americans’ paychecks.
If the economy is sputtering due to Biden’s inflation, in 2024 Donald Trump might see an opening for a comeback as voters compare the Trump economy to what it looks like after four years of Democrat Party policies.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.