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On Friday’s edition of NBC’s “MTP Now,” NBC News White House Correspondent Mike Memoli stated that “the Biden team has seemed to concede that there’s nothing they’re going to be able to do to fix the inflation problem” and are trying to reframe things to a “stylistic” argument. Memoli said, “Every single demographic, every poll shows the number one issue, cost of living, inflation. And the Biden team has seemed to concede that there’s nothing they’re going to be able to do to fix the inflation problem. So, they’re trying to make this a whose side are you on, who...

It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. Retailers say shoppers are fed up with rising prices and are changing their purchasing behavior.

DEERFIELD, Ill. - Walgreens is lowering prices on hundreds of products this summer, joining other retailers like Target, Walmart, and Amazon who have announced similar promotions in an effort to lure in more cost-conscious shoppers. The company on Wednesday announced plans to cut prices "on more than 1,300 national and store-brand products across health and wellness, personal care and seasonal categories." In an attempt to boost its loyalty program, Walgreens said it will also bring back its "myW Days" in mid-July – a deal offering exclusive promotions for myWalgreens members. Global Chief Financial Officer Manmohan Mahajan told analysts during a...

For the better part of two decades, a small group of us fiscally prudent types have been relegated to the wilderness for having the temerity to sound the alarm. Our warnings were bordering on heresy to many on Wall Street and in DC. But lately, more and more voices are joining the chorus that we are heading headlong toward a fiscal and monetary cliff. When the day of reckoning arrives, most people will be unprepared. That is a fact that has been proven throughout history. Just as fortune favours the prepared, financial ruin will befall the unprepared. Before you roll...

Lillian Zhang wasn’t even out of college before she started planning for retirement. Zhang was 20 years old when she opened her first retirement account, a Roth IRA, after learning about them from personal finance Youtube channels. She maxed it out for two years using money from her savings and summer internships, and when she got a job after college, switched her focus to maxing out her 401(k). Zhang, now 24, now has six figures stashed across three different retirement funds. (She recently opened a Simplified Employee Pension, or SEP, IRA for her side hustle as a content creator.) And...

On Wednesday’s edition of NBC’s “MTP Now,” Biden Campaign Co-Chair Rep. Lisa Blunt Rochester (D-DE), who is also running for the U.S. Senate in Delaware, said that “A lot of people are going through a lot of struggles right now, coming out of the pandemic. And they are not even aware of the things that this administration has done to really uplift our communities.” Host Peter Alexander asked, “So, Congresswoman, let me ask you specifically, then, I think the question is, if the campaign was in such good shape with black voters, as President Biden has done in the past...

Austan Goolsbee, President of the Chicago Federal Reserve Bank, highlighted that consumer delinquencies are among the most worrisome economic indicators currently being monitored. His concerns now appear prescient as new data reveal a significant uptick in delinquency rates in the first quarter of 2024. "If the delinquency rate of consumer loans starts rising, that is often a leading indicator that things are about to get worse," Goolsbee stated.

Little by little, our standard of living has been eroding. A couple decades ago, we had the largest and most prosperous middle class in the history of the world, but now most of the country is struggling. At this point, fast food is considered to be a “luxury”, 11 million children are living in poverty, and thousands of stores are permanently shutting down all over the United States because consumers have so little discretionary income these days. We are in the midst of a historic cost of living crisis, and those at the bottom of the economic food chain are...

President Biden is facing an American public that trusts his top political rival far more on inflation and economic matters, issues that are likely to loom large in voters’ minds at the ballot booth in November. A poll released last week from the Cook Political Report, conducted with Democratic and Republican strategy firms, showed that likely voters across seven “swing states” overwhelmingly disapprove of the job Biden is doing on the economy.

Many Americans do not plan to enjoy a summer vacation in President Joe Biden’s America, a Fox News poll found in May, underscoring the economy as the number one 2024 issue for voters. The Fox News poll found: Of the 55 percent who are not taking a summer vacation, 73 percent do not have enough money to do so. Seventy-two percent said higher prices impact their summer plans. Fifteen percent do not have time and must remain focused on the daily grind. The last time a pollster asked Americans this question, in 2010, of those who were not going on...

I saw former President Obama criticizing former President Trump for not passing “transformative” changes. That is, Trump didn’t sign any Obama-like transformative changes (like Obamacare). Truimp did try to slow down the damage done by Obama and his transformative agenda (e.g., open borders, wealth redistritution, green energy) that Biden has attempted to continue. As we approach the party conventions and Presidential election of 2024, we saw the Economic Surprise Index (ESI) in May decline to -0.126. Coupled with Biden’s negative buying conditions for housing (higher mortgage rates and soaring house prices), Obama’s Jacobian transformative economic fantasty is on thin ice....

We are living through the most destructive bout of inflation in 45 years, one that threatens to become worse and perhaps just as ruinous in the long run as the last one.And yet daily and for years, we’ve been told it’s not so bad and that it’s nearly over anyway.How can we reconcile these two realities? They cannot both be true.An image of verified accuracy has been circulating all over social media lately: A list showing the price increases from the end of 2019 to now at major fast-food outlets. It fits with your own experience. It indicates that in...

Congressional Democrats on Thursday accused oil companies of inflating the cost of gasoline and vowed to investigate them, pushing back on who's to blame for rising prices hurting President Joe Biden's reelection chances. Senate Majority Leader Chuck Schumer and other top Democrats were flanked by supporters in matching blue shirts holding signs that read, "Stop gouging us at the pump." Schumer criticized recent billion-dollar oil company mergers, such as one between ExxonMobil and Pioneer Natural Resources, as potentially "disastrous for consumers." He said previous mergers in the industry decreased competition and led to higher prices. Schumer said he had already...

Is the economy booming or busting? Depends on whom you ask. The official data is buoyant — economic growth is solid, the job market is strong, and stocks keep hitting record highs. Yet many Americans think the economy stinks. The latest gloomy indicator is a Guardian-Harris survey in which 55% of respondents said they think the economy is shrinking and 56% think we’re in the midst of a recession. Economic output, adjusted for inflation, grew by a solid 3% during the most recent 12-month period. The unemployment rate is 3.9%. And the US economy created over 3.5 million jobs in...

Data revealed by The Wall Street Journal shows the true extent of havoc Bidenomics has wrecked on the U.S. economy. Even as the Dow Jones Industrial Average surpassed 40,000 points, the economy under Joe Biden‘s tenure in the White House has struggled to grow beyond a sluggish rate. Despite the seeming market success that has recently occurred under the Biden government, the numbers belie just how successful investors were under former President Donald J. Trump.

Fast food is no longer healthy for your wallet. Common fast food favorites increased in price under President Joe Biden’s so-called Bidenomics. Fast food inflation has a disparate impact across racial and ethnic groups due to different levels of fast food consumption. According to the Centers for Disease Control and Prevention (CDC), 42.4 percent of non-Hispanic black adults consume fast food, compared with 37.6 percent of non-Hispanic white adults, 35.5 percent of Hispanic adults, and 30.6 percent of Asian adults. The higher price tag of popular foods may be creating political problems for Biden. Thirty percent of black men and...

One tax table is focused on taxing Americans on their ordinary income, the income you earn from your job or your business. The other tax table is focused on taxing your long-term capital gains, meaning assets that have grown in appreciation such as stocks or your business value held more than 365 days. * * * According to a report issued by the Treasury Department, led by Secretary Janet Yellen, Biden’s proposed fiscal year 2025 budget would increase the top marginal rate on long-term capital gains and qualified dividends to an astonishing 44.6%. Today, that top marginal long-term capital gains...

It's crazy to think how much better we had it just five short years ago. You could get a $1.29 McChicken, a $1.69 5-layer burrito from Taco Bell, 8 nuggets at Chick-fil-A for $3.05. We had it made! Since 2019, however, those prices have essentially doubled, and that's not only outrageous, it's depressing. Let's check on the numbers, shall we? So here's what inflation looked like overall during that period: According to the Bureau of Labor Statistics' inflation calculator, prices in general went up by around 21.5% between December 2019 (prior to the onset of the COVID-19 pandemic and economic...

Business groups are pushing back against a new Biden administration rule that would allow third-parties, including union representatives, to accompany federal inspectors of job sites. The Occupational Safety and Health Administration issued the final rule earlier this year, but critics say the rule goes beyond safety needs and panders to unions and their recruitment efforts. The rule would apply even to job sites where workers have not unionized. The National Federation of Independent Businesses, along with the U.S. Chamber of Commerce and other business groups, are helping lead the charge against the new “walkaround” rule, which takes effect May 31...

“Corporate price gouging” is the Biden administration’s latest narrative to displace the responsibility of soaring costs. President Joe Biden, who falsely claimed twice in two weeks that inflation was at nine percent when he assumed office, is transitioning to another tack, albeit a strategy he has used before. “President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” White House deputy press secretary Andrew Bates claimed. “Standing up to corporate price gouging is at the core of that fight.”