White House Grapples with Record Inflation Surge

President Biden has vowed to do “everything within my power” to curb inflation, which has hit its highest rate in more than 40 years, according to the latest data from the Labor Department. The consumer price index for March jumped 8.5% from a year ago, the fastest pace since 1981, the Labor Department said. Gas… Read more »

Biden Releases $5.8T Budget Plan for 2023

President Biden released a $5.8 trillion budget plan this week that includes a reduction in the federal budget deficit of more than $1 trillion over the next 10 years. The White House budget, which serves as an opening salvo in negotiations with Congress, pivots to fiscal prudence by reducing pandemic safety net costs and proposing… Read more »

Inflation Report Puts White House on Defensive

A worse-than-expected inflation report is complicating the Biden administration’s message that the inflation rate is temporary and driven by supply-chain backlogs resulting from the pandemic. A report from the Bureau of Labor Statistics (BLS) showed prices rose 6.2 percent in October compared with a year ago, which is the largest annual increase in 30 years…. Read more »