Inflation

Housing inflation is way worse than the government says, says former Obama economist. Government stopped using real-world data and started using proxies to estimate the data. The reason for this was to artificially bring down inflation numbers, providing political cover for the politicians that created the rising prices in the first place.

Immigration has overtaken inflation as the top concern for voters in 2024s elections, according to a survey released on Monday by The Harris Poll. Former President Donald Trump, the presumptive Republican nominee for the 2024 presidential election, along with Republican candidates nationwide, have sought to make illegal immigration a top political issue. The survey was conducted between March 20 and March 21 among 2,111 registered voters across the United States.

The chronic inflation crisis is hindering millions of Americans' ability to prepare for their financial future. Nearly 7 in 10 respondents said they have not contributed as much to their savings due to inflation. 51% of Americans said they are racking up more credit card debt in order to pay for necessities. Nearly 42% of households reported dipping into retirement savings because of inflation.

US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March. That's up considerably from February's 3.2% rate and marks the highest annual gain in the past six months. President Joe Biden acknowledged Wednesday there is more to do to bring down inflation.

Home prices in the US have risen at 2.4 times the pace of inflation since the 1960s, study finds. Since 2013, inflation has clocked in at 31% while the median home price has risen by 63%. If the trend continues, by 2050, average home price will cost 8.4x the median household income.

Prices were up 3.5% for the year in March, a jump from February's 3.1% annual inflation rate. Since Biden took office three years ago, prices are up 19% since he took office. Biden: My agenda is lowering costs for prescription drugs, health care, student debt, junk fees.

The Biden administration has finalized a slate of highly-anticipated environmental regulations curbing gas-powered vehicle tailpipe emissions as part of its broader efforts to reduce greenhouse gas emissions and combat global warming. The regulations will help "tackle the climate crisis" by reducing transportation sector's carbon dioxide emissions by a staggering 7.2 billion metric tons over the course of the program, which will be in effect through 2032.

President Biden and Treasury Secretary Janet Yellen had promised not to increase IRS audits on households and small businesses making less than $400,000 per year. But Biden is constantly finding ways to make the pledge meaningless. He has decided to use a creative definition for income so that the IRS can subject a greater number of taxpayers to audits. Biden IRS will use something called Total Positive Income in order to sweep up more taxpayers into the IRS audit maw.