In the midterm elections this year, Rep. Jim Jordan believes that a big change will come because Americans think the country is on the wrong track.
I think the American people are fixing to make a change come November," Jordan, R-Ohio, told Sunday Morning Futures host Maria Bartiromo. Jordan laid into the Biden administration and the current cabinet, saying that each secretary has overseen a terrible policy change since the last administration.
He slammed Secretary of Homeland Security Alejandro Mayorkas for chaos at the border and Treasury Secretary Janet Yellen for saying she was surprised at inflation. How can I be surprised at inflation when I pay people not to work and drive up the cost of energy? He asked. Jordan said we went from a secure border to chaos. We went from energy independence to the president begging Iran, OPEC and Venezuela to increase production. We went from safe streets to record levels of crime in every major urban area. GAS: We went from stable price to a 41 year high inflation rate, and I haven't gotten into foreign policy, or the attacks on our First Amendment, and of course last week the attacks on our Second Amendment rights, he said.
The Labor Department said on Friday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 8.6% in May from a year ago. The price of the product increased by 1% in the one month period from April. The figures were higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists.
It marks the beginning of December 1981.
In May, energy prices increased by 3.9% from the previous month, and are up 34.6% from last year. Gasoline, on average, costs 48.7% more than it did a year ago and 7.8% more than it did in April. Fuel prices went up 16.9% in May on a monthly basis, putting the one-year increase to 106.7%.
Food prices have gone up 10.1% over the year and 1.2% over the month, with the largest increases in dairy and related products up 2.9%, the biggest monthly increase since July 2007 on non-alcoholic beverages 1.7% cereals and bakery products 1.5%, and meats, poultry, fish and eggs rose 1.1%.