A new survey shows that 1 in 4 college students have to drop classes due to high tuition rates and rising inflation.
The survey of over 1,000 college students was done by Intelligent.com and showed that nearly 1 in 4 students would be forced to drop some or all of their classes if their tuition costs increased by 5%.
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Donald Trump on Saturday delivered stinging rebukes of the Biden administration at the Dallas Conservative Political Action Conference, one of a continuing series of indications that the still-popular former president has set his sights on a return to the White House for 2024.
Trump during his speech declared that the U.S. “is being destroyed more from the inside than the out,” and that the country “is on the edge of an abyss, and our movement is the only force on earth that can save it.”
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New jobs data shows that a significant number of Americans saw their income shrink last month even as prices continue to rise.
Morning Consult released new economic data showing that the number of Americans reporting lost pay or income rose from 11 to 11.7% in July.
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Anyone who has a car is breathing a sigh of relief this last week. After two years of increasing gas prices, we’ve finally had a significant fall in gas prices.
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Rising prices mean that Americans are spending more on the same goods and services, and as a result more than 60% of U.S. consumers are living paycheck-to-paycheck or dipping into savings to cover their routine costs, a recent LendingClub report found.
The number of Americans living paycheck-to-paycheck was up 5.5% in June from a year prior as fully 61% of Americans now devote nearly all of their salaries to expenses with little or nothing left over at the end of the month, according to LendingClub’s report. Americans’ purchasing power has declined in recent months as inflation has outpaced wage increases, making it more difficult to afford normal budgets, the report concluded.
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The Biden administration’s oft-touted talking point that employment has boomed under the administration is misleading and instead simply a natural recovery from pandemic losses, economists told the Daily Caller News Foundation.
Facing consecutive quarters of negative gross domestic product (GDP) growth, sky-high inflation and plummeting consumer sentiment, the Biden administration has routinely cited a low unemployment rate and strong on-paper jobs creation as positive results of President Joe Biden’s economic stewardship. But the notion that these figures represent booming job creation is misleading since the economy has merely rebounded by adding back jobs that were lost during the pandemic and has still yet to reach pre-pandemic levels, economists told the DCNF.
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Democrats in Congress have proposed a new spending bill that would allocate $80 billion for the sole purpose of expanding the Internal Revenue Service (IRS), ostensibly to fight inflation by raising government revenues.
As reported by The Daily Caller, the bill is called the “Inflation Reduction Act of 2022.” The bill would see the size of the IRS increase as part of a broader effort to increase “taxpayer compliance.” Under the new bill, the IRS would spend an additional $80 billion over the course of the next 10 years, up significantly from its current budget of $13.7 billion, with a primary focus on hiring thousands of new agents, and expanding operations, facilities, and services.
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Inflation has soared in the past year, and parents are feeling the difference as they start back-to-school shopping this year.
A new Morning Consult survey found that parents expect to spend more money and are less excited about shopping for their children this year.
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The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, continued to surge in June, according to data released Friday by the Bureau of Economic Analysis (BEA).
The PCE index was up 6.8% for the year ending in June, an increase from the 6.3% that it was at in both April and May, the BEA announced. PCE is the Fed’s preferred measure of inflation because it is “just better at capturing the inflation people actually face in their lives,” and the central bank endeavors to keep it at 2%, Federal Reserve chair Jerome Powell said Wednesday.
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The U.S. Federal Reserve announced another 0.75% rate hike Wednesday in response to inflation, which has soared to its highest level in more than four decades.
The announcement comes after just last month the Federal Reserve announced a rate hike of the same size, which at the time was the largest rate increase since 1994.
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A new survey of consumers reports a lack of confidence in the economy as inflation soars.
The latest Confidence Index, a product of nonprofit research group Conference Board, indicates consumers have lost faith in the economy’s future. A new index is published monthly.
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Nearly half of small business owners are not willing to hire because of labor costs and “skyrocketing inflation,” a newly released small business report shows.
The small business network Alignable released its July Hiring report which found that “45% of small businesses (SMBs) are halting their hiring, largely because they say they can’t afford to add staff.
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Federal lobbyists have made huge profits in the second quarter of 2022, according to financial disclosures reviewed by Politico, while many Americans continue to feel the effects of inflation and the ongoing energy crisis.
Of the top twenty lobbying firms by revenue, just two saw revenue decreases when compared with the first three months of the year, Politico reported. The lobbying boom was largely attributable to reconciliation negotiations between Democratic Sen. Joe Manchin of West Virginia and Senate Majority Leader Chuck Schumer of New York, as well hotly contested deliberations on whether to dole out subsidies to domestic semiconductor companies.
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Three out of 4 middle class households report falling behind the rising cost of living as inflation continues to soar., according to a new poll.
Primerica released the report, which found that 75% of middle-income families “say their income is falling behind the cost of living,” an eight-point rise since March. The poll found only 16% of those surveyed think they will be better off financially in a year.
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Several manufacturing and business leaders are concerned about how inflationary pressures are hurting businesses through heightened input and transportation costs.
Participants at a round table event on Capitol Hill Thursday said that inflation has increased the cost of raw materials, making it harder for manufacturers to obtain what they need to do business.
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Next week will mark one and a half years since Joe Biden became president on Jan. 20, 2021. On July 20, every American should look within and ask: “Am I better off than I was 18 months ago?”
To Biden’s credit, the unemployment rate has fallen from 6.4% when he took office to 3.6% in June. Today’s figure is a notch higher than the 3.5% joblessness that Americans enjoyed in February 2020, thanks to President Donald Trump’s Republican tax cuts, deregulation, energy dominance, and other pro-growth initiatives.
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Producer prices soared by 11.3% in June over a year ago as consumers continue to struggle with skyrocketing prices for just about everything.
The U.S. Bureau of Labor Statistics released its Producer Price Index data Thursday, which showed a 1.1% increase last month, contributing to a 11.3% increase in the past 12 months, “the largest increase since a record 11.6% jump in March 2022.”
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Consumer prices rose another 1.3% in June, contributing to a 9.1% spike over the past 12 months. It is the largest spike in 41 years.
The Bureau of Labor Statistics released the Consumer Price Index for All Urban Consumers (CPI-U) Wednesday, which showed June’s rise. In May, prices rose 1%.
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For many readers, the above title will conjure up memories of the 2008 housing crash caused by the proliferation of subprime mortgages and the subsequent tsunami of defaults. But a better corollary for the coming Biden bust is the Carter crash that occurred three decades earlier. During the final two years of Carter’s term, sales of existing and new homes collapsed because the Fed was forced to raise interest rates sharply to get double-digit inflation under control. This, in turn, produced double-digit mortgage rates that priced millions of potential buyers out of the market.
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More than a third of small businesses can’t pay rent, newly released data shows.
The small business network Alignable released new survey results that found that 35% of U.S. small business owners “could not pay their rent in full or on time in June.”
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After this month’s historic special election win in South Texas, Republican strategists nationwide are asking themselves: how can we replicate now-Congresswoman Mayra Flores’s success in flipping an 84% Hispanic district to the GOP? Meantime, Democrats are burying their heads in the South Texas sand as Hispanic voters flee their party.
It’s not rocket science to appeal to Hispanic voters and persuade them to vote Republican. My firm’s work with the Hispanic Republican Coalition of Pennsylvania shows how to do it.
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The vast majority of Americans are cutting back on their spending because of rising inflation, according to new survey data.
Provident Bank based in New Jersey released the report, which found that roughly 83% of those surveyed have cut back on personal spending due to inflation, with about 23% saying they have made “drastic changes” to their spending.
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67 percent of Americans disapprove of President Joe Biden’s handling of the U.S. economy and 71 percent disapprove of his handling of inflation as gasoline prices continue hitting records at $5 a gallon, a recent Fox News poll taken mid-June found, even as Biden recently suggested a recession is not “inevitable”.
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The U.S. Census Bureau Wednesday released advance estimates of U.S. retail sales which showed those sales fell 0.4% in May.
Motor vehicle and parts dealers took the biggest hit, with sales dropping 3.5%. Electronics and appliance stores sales decreased 1.3%. Furniture and home furniture stores, as well as health and personal care stores, also experienced a decrease in sales.
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Diesel and regular gasoline prices hit a new all-time high Tuesday as they continue their rapid climb in recent weeks.
Diesel, up to $5.78 per gallon, has hit a new record almost every day this month.
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The spread between 10-year and 2-year treasuries, a reliable indicator of incoming recessions that has predicted almost every recession in modern economic history, inverted once again overnight Monday amid financial markets turmoil with interest rates rising rapidly, the dollar strengthening and equities markets crashing.
That is almost certainly terrible news for President Joe Biden and Congressional Democrats ahead of the 2022 Congressional midterms. The White House has attempted to highlight relatively low unemployment numbers as signs of a healthy economy, with President Biden on June 3 declaring the latest jobs numbers as “good news.”
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CNBC editor Rick Santelli unloaded on the Biden administration on CNBC’s “Squawk Box” Friday morning, saying anti-fossil fuel policies helped to spur inflation.
“What was the forward guidance with this administration on energy?” Santelli asked. “We know the answer. Maybe they can’t get things to happen faster, but by giving positive forward guidance, by not closing pipelines, by not talking pre-election about how much they don’t like fossil fuel, maybe things would have turned out a bit different.”
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Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.
The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”
The report found “46% are either dining out less or consciously spending less when dining out.”
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A Chevron gas station in Los Angeles was spotted charging over $8.00/gal for gasoline on Tuesday, a stark reminder of just how much fuel prices have risen across the country. Customers were unsurprisingly frustrated by the price, but felt there was little they could do to avoid it.
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In what has become a seemingly every day occurrence, gas prices rose to a new record high Sunday as the national average approaches $5 a gallon.
Nine states already have surpassed the $5 threshold, and several others are just pennies away.
According to AAA, the average cost of a gallon of regular gasoline reached $4.85 Sunday, up an additional three cents from Saturday and 24 cents from last week.
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United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN’s Wolf Blitzer.
“I think I was wrong then about the path that inflation would take,” Yellen told Blitzer Thursday on “The Situation Room” in response to 2021 comments where she claimed inflation would be “a small risk.”
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Millions of Americans say the likely will have to push back their retirement because of rising inflation, newly released financial survey data found.
The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, showed that a quarter of Americans will likely need to delay their retirement because of higher prices.
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Most Americans believe President Joe Biden’s policies are the leading contributor to inflation in the U.S., a recent poll found.
The poll, conducted by the Trafalgar Group and the Convention of States Action from May 25 – 29, asked respondents to choose whether they believed Biden’s policies and spending or the war between Russia and Ukraine contributed more to inflation. The survey found that 59.9% of respondents blamed Biden’s policies and spending for inflation, compared to 31.6% who blamed the war between Russia and Ukraine and 8.5% who were unsure.
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As Democrats head into the November midterms with historically low approval ratings, another major factor could arise that will further contribute to the shrinking of their already-slim majorities.
As reported by The Hill, the Affordable Care Act – known colloquially as “Obamacare” – could face a significant increase in premiums due to a lapse in special funding provided by the coronavirus aid bill passed last year. That bill, known as the American Rescue Plan, temporarily increased financial assistance for Americans seeking healthcare through Obamacare; the increase was set to expire just one year after the bill’s passage.
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A majority of surveyed American families are worried about inflation and are changing their summer vacation plans because of it, according to newly released polling data.
The poll, from Echelon Insights, found that “75% of parents say they are concerned about the rising cost of everyday purchases like food or gas.”
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Gas prices have soared to new heights this month with the price of unleaded regular gas hitting a record high every day for the past two weeks. With Memorial Day weekend approaching, motorists face steep costs if they plan to travel.
According to AAA, the national average regular unleaded gas price Tuesday came in at $4.60, a record high. Diesel gasoline is at $5.55 per gallon, just below the record set last week.
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Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and “ultra-MAGA” Republicans. The president said that his policies, and the nearly $7 trillion in spending he authorized, have nothing to do with inflation.
None of this holds up under scrutiny. While President Biden claims that corporations are ripping off Americans, the costs of their supplies have been increasing at a record rate. In reality, many companies that Biden claims are stiffing consumers have actually lost money because they don’t want to alienate their customers by raising prices too quickly.
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If an administration deliberately wished to cause havoc on the border, to ensure fuel was nearly unaffordable, to create a crime wave, to spark 1970s hyperinflation, and to rekindle racial tensions, what would it have done differently than what Joe Biden has done?
So is Biden malicious, incompetent, or a wannabe left-wing ideologue?
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The majority of Americans feel they cannot keep up with the cost of living as inflation and the price of goods continue to rise, according to new polling data.
A poll from NBC News asked Americans, “Do you think that your family’s income is … going up faster than the cost of living, staying about even with the cost of living, or falling behind the cost of living?”
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The Senate voted 80-19 on Thursday to confirm Jerome Powell to a second term as Federal Reserve chair, even as inflation has hit record highs under his watch.
The 19 “Nay” votes came from 13 Republicans and 5 Democrats and included a range of Senators from Sen. Ted Cruz (R-Texas) to Sen. Bernie Sanders (I-Vt.).
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The Biden Administration last June unveiled its “National Strategy for Countering Domestic Terrorism.” Despite its anodyne-sounding name, the “national strategy” was anything but anodyne. The pamphlet represented the logical culmination of the Left’s cynical use of the January 6, 2021, U.S. Capitol riot as a means of ginning up large-scale, nationwide anti-Republican/anti-Trump voter sentiment.
The result, evinced again by Attorney General Merrick Garland’s disgraceful October 2021 memo directing the FBI to intrude on local school board meetings and crack down on anti-critical race theory parental revolts, has been a roiling cold war waged by the ruling class against us “deplorables” and our political “wrong-think.”
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Democratic California Rep. Katie Porter said inflation and rising prices reinforced the importance of abortion on MSNBC’s “The Last Word” Wednesday.
Porter said inflation and abortion were closely tied together and that, as grocery and gas prices rose, people would realize the importance of controlling their family size through abortion.
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Americans are now entering uncharted, revolutionary territory. They may witness things over the next five months that once would have seemed unimaginable.
Until the Ukrainian conflict, we had never witnessed a major land war inside Europe directly involving a nuclear power.
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Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.
For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.
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An increasingly disturbing feature of American politics is the routine suppression of major news stories that reflect poorly on candidates favored by the Fourth Estate. The most egregious example in recent years occurred in October of 2020 when corporate news outlets and social media platforms colluded to bury a New York Post article on Hunter Biden. Fortunately, some stories just aren’t susceptible to such censorship. Inflation is a case in point. It can’t be hidden from the voters because soaring prices shout the bad news from every grocery store shelf and gas pump in the nation.
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The Federal Reserve on Wednesday announced the central bank will raising interest rates by a half-percentage point, in attempt to slow the worst inflation in the U.S. in roughly four decades.
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Newly compiled data from the Federal Reserve shows that inflation is hurting businesses, costing consumers, and likely not going away anytime soon.
The Federal Reserve released its “Beige Book,” a report that compiles reports from “Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources” from the 12 Fed districts around the country.
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A majority of Americans now blame President Joe Biden for surging inflation after he attributed the crisis to Russia’s Ukraine invasion and the COVID-19 pandemic, according to a poll conducted by Public Opinion Strategies, which was commissioned by Americans for Prosperity.
The poll, which was conducted between April 12-18, found that 61% of Americans blame Biden for the widespread price increases, while 75% of respondents reported that inflation impacted their purchasing decisions over the last 12 months.
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Soaring inflation is leaving Americans battered and bruised—and not just inflation in prices. Inflation in rhetoric is also doing a number on the people of our republic.
We’ve seen it unfold with depressing regularity. Donald Trump was a “fascist dictator,” we were told. The Capitol riot was a “coup” and an “insurrection.” Climate change poses an “existential threat” to all life on earth. And, just this past week, after failing to get the legislative redistricting map he wanted from the state Supreme Court, Wisconsin’s Democratic Governor Tony Evers declared: “At a time when our democracy is under near-constant attack, the judiciary has abandoned our democracy in our most dire hour.”
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The last time I purchased a used car it didn’t turn out well. A number of years ago, I bought a used 2005 Mazda Tribute for what I thought was a screaming deal: $5,900. The mileage was low, and the vehicle was in pretty meticulous shape—or so I thought.
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