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Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing


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List of Tax Hikes in Democrat Reconciliation Bill

 

  • $6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills     
  • $12 Billion Crude Oil Tax Which Will Increase Household Costs
  • $1.2 Billion Coal Tax Which Will Increase Household Energy Bills
  • $225 Billion Corporate Income Tax Hike Which Will Be Passed on to Households
  • $74 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans
  • 95% Federal Excise Tax on American Pharmaceutical Manufacturers
  • $52 Billion Income Tax Hike on Mid-Sized & Family Businesses
  • Supersizing the IRS to Increase Audits – $204 Billion

 

https://www.atr.org/list-of-tax-hikes-in-democrat-reconciliation-bill/

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The number of Americans filing for jobless benefits for the first time last week was 262k, higher than the 248k the prior week. That is the highest since Nov 26 2021.

 

Also, Producer Prices dropped in July (-0.5%), more than the reduction to +0.2% expected.  YoY the PPI is up 9.8%.

Edited by All_Pro_Bills
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2 hours ago, All_Pro_Bills said:

The number of Americans filing for jobless benefits for the first time last week was 262k, higher than the 248k the prior week. That is the highest since Nov 26 2021.

 

Also, Producer Prices dropped in July (-0.5%), more than the reduction to +0.2% expected.  YoY the PPI is up 9.8%.

 

but , but

PressOffice@bls.gov JOB OPENINGS AND LABOR TURNOVER – JUNE 2022 The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today

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3 minutes ago, ALF said:

 

but , but

PressOffice@bls.gov JOB OPENINGS AND LABOR TURNOVER – JUNE 2022 The number of job openings decreased to 10.7 million on the last business day of June, the U.S. Bureau of Labor Statistics reported today

 Contrary to last months 500+ jobs print, the labor market is weakening. 

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Biden approves largest oil, gas lease sale in US history, steamrolls eco review with inflation bill
The Inflation Reduction Act reinstates Lease Sale 257, an oil and gas sale spanning 80.8 million acres across the Gulf of Mexico

While the Inflation Reduction Act includes several green energy provisions opposed by the fossil fuel industry, the bill also orders the Department of the Interior (DOI) to take a series of steps to boost fossil fuel production on federal lands and waters.

 

The legislation specifically requires the DOI to reinstate Lease Sale 257, a massive offshore oil and gas sale spanning 80.8 million acres across the Gulf of Mexico, within 30 days of enactment.

 

https://www.foxbusiness.com/politics/biden-approves-largest-oil-gas-lease-sale-us-history-steamrolls-eco-review-inflation-bill

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