The U.S. Commerce Department reported that inflation for May increased only 0.1% over April's inflation and that inflation is up 4% over the previous 12 months, the lowest in over 2 years. Another piece of good news on the economy reports retail sales were up 0.3% in May. Economist were predicting retail sales would be down for the month. With job creation at 339,000 for May, the month was positive despite the negative doom and gloom voices.
After 28 full months in office (Feb 2021-May 2023) the Biden Administration's policies are still working for the economy and producing results. The consumers are still spending, unemployment has stayed in the 3% range for the past 16 months, the longest string since the Kennedy-Johnson Presidency, record job creation, rising wages and America is leading the free world and democracy at home and abroad. For those 28 months the negative voices have been wrong on every phase of the economy.
The media during those 28 months unfortunately, for the country and its people decided to push the negative doom and gloom predictions about everything connected to the economy rather than the positive results of the economy and the President's policies. So now they are pushing the negative voices predicting an economic disaster later this year.
The sane voices of the President and the democratic party are working for America and its people in a positive and progressive way that continues to move the country forward for a better economic future. The democratic party represents America's best interest and are the only party that is working for America and its people. And that really says it all.
This commentary written by Joe Lorio
