Accountability
United States inflation rose 8.5% over past 12 months, biggest spike since December 1981
Inflation has risen at its fastest pace in more than 40 years in the United States. Food, gasoline, housing, and more has increased in price, hurting many American citizens.
According to ABC News, the Labor Department said Tuesday that the consumer price index jumped 8.5% in March from the past year. This is the sharpest year-over-year increase since 1981. From February to March, inflation rose 1.2%, the biggest month-to-month jump since 2005.
Additionally, gasoline prices increased by 48% in the past year, used car prices have increased 35%, bedroom furniture is up 14.7%, with more increases expected.
The inflation has increased as the job market and economy have also increased. In 2021, 6.7 million jobs were added, which is the most in any year on record. Additionally, layoffs are at an all time low since 1968. However, while many Americans have received raises, inflation has destroyed the impact of those raises.
Terry A. Hurlbut has been a student of politics, philosophy, and science for more than 35 years. He is a graduate of Yale College and has served as a physician-level laboratory administrator in a 250-bed community hospital. He also is a serious student of the Bible, is conversant in its two primary original languages, and has followed the creation-science movement closely since 1993.
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And the question is will those in control of the Presidency and Vice-Presidency do what President Coolidge did with the depression that occurred in 1920 that produced the “Roaring 20s” or do what FDR did and create the “Great Depression”? One ended a depression in 6 months and the other created a depression that lasted for a decade or more. People need to learn the real history.