What’s Manchin’s Agenda on Climate and Economy?
Did axing the Biden Administrations “Build Back Better Plan” in December last year really work, Senator Manchin?
Looking back to December, 2021, we see Sen. Joe Manchin III (D-W.Va.) snub his nose at the Biden Administrations Build Back Better Plan.
Manchin stated he felt it would cause inflation. So, as usual with things these days in Washington DC, without the support of Manchin, it collapsed.
The annual inflation rate for the United States is 9.1% for the 12 months ended June 2022, the largest annual increase since November 1981 and after rising 8.6% previously, according to U.S. Labor Department data published July 13.
We’ll, let us take a serious step back and see just how this plan of Manchins is working out.
The annual inflation rate in the US accelerated to 9.1% in June of 2022, the highest since November of 1981, from 8.6% in May and above market forecasts of 8.8%. Energy prices rose 41.6%, the most since April 1980, boosted by gasoline (59.9%, the largest increase since March 1980), fuel oil (98.5%), electricity (13.7%, the largest increase since April 2006), and natural gas (38.4%, the largest increase since October 2005). Food costs surged 10.4%, the most since February 1981, with food at home jumping 12.2%, the most since April 1979. Prices also increased significantly for shelter (5.6%, the most since February 1991), household furnishings and operations (9.5%), new vehicles (11.4%), used cars and trucks (1.7%), and airline fares (34.1%). Core CPI which excludes food and energy increased 5.9%, slightly below 6% in May, but above forecasts of 5.7%. (source: U.S. Bureau of Labor Statistics)
Now, let’s check out one thing that concerns all of us. FOOD! Food prices have gone through the roof. And, contrary to the easiest people to blame, the food producers, the farmers of this great nation, have had no control over this at all! As a matter of fact, they are hit just as hard, or harder, than the consumer that buys their products in the grocery stores.
Food inflation in the United States accelerated for a 13th straight month to 10.4% in June of 2022, the biggest increase since February of 1981. The food at home index rose 12.2%, the largest 12-month increase since the period ending April 1979. All six major grocery store food group indexes increased over the span, with five of the six rising more than 10%. The index for food away from home rose 7.7%, the most since November 1981. (source: U.S. Bureau of Labor Statistics)
I really believe that, without going further, we can summarize that whatever plan Manchin has, or agenda he is trying to convey, it isn’t working. A question I have is this: Did blowing the Build Back Better Plan out of the water really work for inflation curtailment?
I think not.
So, now, Manchin is attacking the Climate Change, and Tax Rate Increase for the wealthy. Why this? Why now? And most importantly. What is Manchin really after? Who, or what groups, is he really protecting. Because what he has done is further destroy any hope if us, the American people getting life back to a normalcy. Having fuel prices drop. Food prices come back down. At least where senior citizens in an extremely fixed income can actually go to the food market and get a few groceries.