Trump Desperately Tries to Blame Anyone but Himself for Inflation
U.S. inflation was up in January, with Americans taking yet more hits from the rising costs of groceries, rent, and energy.
The consumer price index indicated that prices rose by 3 percent in January compared to a year earlier, according to data released Wednesday from the Labor Department.
Rent alone made up 30 percent of that increase, according to The Washington Post's economic columnist Heather Long, who noted on X that the 'core' consumer price index—which excludes the volatile prices of food and energy—had practically stalled since June.
But Americans were still feeling sticker shock for some key grocery staples in January, when the price of a dozen eggs soared by 13.8 percent and averaged $4.95 across the country—a price tag that's still up by 53 percent from last year, according to The New York Times. Egg prices are only expected to increase amid a widening outbreak of avian flu, which has temporarily shuttered New York City's poultry markets and skyrocketed the cost of a standard dozen eggs to more than $12 in Key Food and CTown supermarkets, amid a nationwide egg shortage.
But Donald Trump felt that there was only one person to blame. ''BIDEN INFLATION UP!' the president posted on Truth Social Wednesday morning.
On the campaign trail, Trump repeatedly pledged to lower costs for American consumers on 'day one.' But three weeks into his second administration, Trump has repeatedly avoided answering the hard questions on exactly how he's going to provide relief for American's wallets.
'You said that tariff is a beautiful word,' pressed Fox News's Brett Baier in an interview with the president over the weekend. 'There are some signs in the market, consumer confidence, that they're a little jittery. So, if all goes to plan, when do you think families would be able to feel prices going down, groceries, energy? Or are you kind of saying to them, hang on, inflation may get worse until it gets better?'
But Trump quickly changed the topic, instead lumping the responsibility of rising inflation onto other countries.
'I think we're going to become a rich—look, we're not that rich right now,' Trump said. 'We owe $36 trillion. That's because we let all these nations take advantage of us. Same thing, like 200 billion with Canada. We owe 300—we have a deficit with Mexico of $350 billion. I'm not going to do that. I'm not going to let that happen.'
Last week, White House press secretary Karoline Leavitt told reporters that the Trump administration doesn't 'have a timeline' for alleviating the nation's critically high cost of living.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
34 minutes ago
- New York Times
Is 4,700 federal troops a big deployment?
About 4,000 National Guard troops and 700 Marines have been sent to Los Angeles as of Tuesday morning, after President Trump bypassed California leaders who said federal forces were not needed to respond to mostly peaceful protests. Here's how the deployment compares to past military activations on domestic soil responding to social unrest. 2021: Attack on the Capitol In 2021, officials in Washington initially requested 340 National Guard members to help respond to planned protests on Jan. 5 and Jan. 6, according to the military. As the protests on Jan. 6 against the 2020 presidential election results deteriorated, with a violent mob attacking police officers and the Capitol, the mayor of Washington D.C., Muriel Bowser, requested assistance, and 1,100 D.C. National Guard members were sent. Later that night, the acting defense secretary at the time, Chris Miller, mobilized 6,200 more National Guard members from other states to ensure peace in the days leading up to former President Joseph R. Biden's inauguration. 2020: George Floyd Protests After protests sprung up around the United States in response to the police killing of George Floyd in Minneapolis, National Guard members were deployed to several states. As of June 3, 2020, the National Guard had deployed more than 18,000 members in 28 states to respond to civil unrest related to Mr. Floyd's murder at the request of the states' governors. Another 42,000 National Guard members were activated at the same time for the coronavirus pandemic response. Want all of The Times? Subscribe.
CNN
34 minutes ago
- CNN
Why these actors and ‘SmartLess' podcast hosts want to help you pay less for cell service
The latest celebrity start-up trend is no longer tequila. It's telecom. Actors Sean Hayes, Will Arnett and Jason Bateman — who host the popular 'SmartLess' podcast — are launching a wireless service as an alternative to pricier unlimited data plans from major carriers like Verizon, T-Mobile or AT&T. The decision to start the company, called SmartLess Mobile, came from a simple realization: while industry giants generally push unlimited plans, most people don't actually use that much data. Even if they're glued to their phones. 'Most Americans spend almost 90% of their time under Wi-Fi. Their mobile device very seldom actually uses the actual wireless network,' said SmartLess CEO Paul McAleese, a telecom industry veteran who co-founded the company with the actors. Research published last year by the consultancy group OpenSignal found that most mobile customers spend between 77% and 88% of their on-screen time connected to a Wi-Fi network. SmartLess Mobile offers wireless plans starting at $15 per month for 5 gigabytes of high-speed data, going up to $30 monthly for 30 gigabytes. By contrast, starter unlimited plans from the major carriers range from around $35 to $65 per month. McAleese said he and Arnett started discussing the idea after the actor bought a new phone for his teenage son and was sold an unlimited plan that cost around $70 monthly. (Arnett previously served as a spokesperson for Canadian telecom giant Shaw Communications; McAleese is the company's former president.) 'And (Arnett) goes, 'Geez, it's awfully expensive,'' McAleese said in an interview with CNN. 'And I said, 'Your boy spends almost his entire life under Wi-Fi. He's at home, he's at school … he's never going to be on the network. Why would you buy all that?'' SmartLess Mobile joins a growing slate of celebrity-backed wireless carriers, including Consumer Cellular, with longtime spokesperson Ted Danson, and Ryan Reynolds' Mint Mobile, which was acquired by T-Mobile in 2023. These providers, known as mobile virtual network operators (or MVNOs), lease access to a major telecom provider's spectrum — SmartLess plans will run on T-Mobile's 5G network — and can often charge lower prices because they don't have to manage the physical infrastructure. The services have gained popularity as cell phone technology has advanced. Most phones now have digital SIM cards, making it easier for consumers to switch carriers without having to visit a retail store. And the proliferation of Wi-Fi infrastructure everywhere from subways to restaurants means many people have lesser data needs. If their partner network goes down, MVNOs do risk being the ones customers blame for losing missing service. And limited data plans aren't necessarily for everyone — ride-share drivers and delivery couriers likely use a lot more data than people who work from home or from an office with a Wi-Fi network. But the primary 'uphill battle for any MVNO is to stand out in the space,' said Jeffrey Moore, principal at wireless industry research firm Wave7, because the industry giants have much more name recognition. Major carriers also entice customers with deals on new phones, which they practically give away for free if consumers join their network. Smaller carriers 'have to stand out either in terms of offerings or in terms of marketing,' Moore said. That's where celebrity endorsements come in. SmartLess already has a significant built-in audience; the podcast ranks among the top 20 most popular shows on Apple Podcasts. And Arnett, Hayes and the SmartLess podcast have more than 2 million combined Instagram followers. 'Whether by luck or by design, they also have a brand name that has both 'smart' and 'less' in the name,' McAleese said, 'which, if you're going to be a challenger brand in this day and age, those are two pretty good head starts.' The team plans to start discussing SmartLess Mobile on the podcast in the coming weeks, he said. And the SmartLess hosts' involvement in the new carrier goes beyond typical celebrity endorsements, McAleese said. Hayes, Arnett and Bateman had already turned down the opportunity to lend their names to other types of products, and they've been involved in everything from financing to marketing the new company. 'They rely on the category for what is now one of their primary professional pursuits, which is the podcast, this is how people consume their product,' McAleese said. 'These guys are master storytellers, and they have the brand ethos of sort of an honest broker. I think it's just a perfect marriage.'
Yahoo
39 minutes ago
- Yahoo
Space and defense tech firm Voyager raises $382.8 million in US IPO
(Reuters) -Voyager Technologies raised $382.8 million in its U.S. initial public offering, the space and defense tech company said on Tuesday, amid a global rush to amp up military spending. The company, which provides mission-critical space and defense technology solutions, along with some investors sold roughly 12.35 million shares at $31 per share, above its marketed range of $26 to $29. The offering is the latest in recent weeks as the U.S. IPO market regained its footing after being restricted by tariff-driven volatility. The Denver, Colorado–based company's IPO comes as President Donald Trump's administration looks to sharply increase spending on defense and space projects. Trump last month selected a design for his $175 billion Golden Dome project, a next-generation U.S. missile defense shield. The stock will trade on the New York Stock Exchange on Wednesday under the symbol "VOYG". Morgan Stanley and J.P. Morgan are the lead underwriters on the listing.
