{"id":1502990,"date":"2022-06-03T20:49:11","date_gmt":"2022-06-04T00:49:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502990"},"modified":"2022-06-03T20:49:15","modified_gmt":"2022-06-04T00:49:15","slug":"the-economy-is-toast-but-at-least-the-treasury-department-is-flying-a-pride-flag","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-economy-is-toast-but-at-least-the-treasury-department-is-flying-a-pride-flag\/","title":{"rendered":"The Economy Is Toast, But At Least The Treasury Department Is Flying A Pride Flag"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-economy-is-toast-but-at-least-the-treasury-department-is-flying-a-pride-flag%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502990&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>With persistent inflation eroding Americans\u2019 buying power and tightening their budgets, one may think that the nation\u2019s fiscal policymakers would be all-hands-on-deck to resolve the problems. But for the Biden administration, \u201cPride Month\u201d takes priority.<\/p>\n<p>Consumer price inflation is currently at 8.3% \u2014 the metric\u2019s highest level in four decades. Gas prices are soaring past $4.75 per gallon \u2014 with no end in sight. Yet Treasury Secretary Janet Yellen found time this week to raise the rainbow flag.<\/p>\n<p>\u201cFor the first time in our history, Treasury is displaying the Pride Flag to express our solidarity with LGBTQ+ Americans during Pride Month,\u201d Yellen announced on Thursday, adding that her department \u201cremains committed to diversity, equity, and equal opportunity for all.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">For the first time in our history, Treasury is displaying the Pride Flag to express our solidarity with LGBTQ+ Americans during Pride Month. <a href=\"https:\/\/twitter.com\/USTreasury?ref_src=twsrc%5Etfw\">@USTreasury<\/a> remains committed to diversity, equity, and equal opportunity for all. <a href=\"https:\/\/t.co\/QJK5o2yuGn\">pic.twitter.com\/QJK5o2yuGn<\/a><\/p>\n<p>\u2014 Secretary Janet Yellen (@SecYellen) <a href=\"https:\/\/twitter.com\/SecYellen\/status\/1532434489498030105?ref_src=twsrc%5Etfw\">June 2, 2022<\/a><\/p>\n<p>The data speak louder than Yellen\u2019s words. The <a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2022-05\/gdp1q22_2nd.pdf\">United States economy shrank<\/a> at a 1.5% annualized rate in the first quarter of 2022, with two consecutive quarters of negative growth constituting recession territory.<\/p>\n<p>But it is worth remembering that real people living paycheck-to-paycheck are getting hurt while Yellen plays activist.<\/p>\n<p>Over the past few days, I interviewed <a href=\"https:\/\/www.dailywire.com\/news\/everything-is-too-high-right-now-in-west-philadelphia-residents-battle-inflation-and-gas-prices\">several residents of West Philadelphia<\/a> \u2014 a Democrat-run, majority-minority neighborhood where median household income is 43% of the national average \u2014 on behalf of The Daily Wire. The consistent story was that skyrocketing inflation and gas prices are severely impacting their lives.<\/p>\n<p>\u201cIt\u2019s too high. I don\u2019t know what happened, because the price of everything is too high now,\u201d Mohamed, a West Philadelphia resident and immigrant from French-speaking Africa, explained.<\/p>\n<p>\u201cI drive to work and I go home. And anything else in between, I try to do it as I\u2019m going home from work,\u201d added Art, a maintenance worker who lives in Delaware, but commutes to West Philadelphia. \u201cIt\u2019s just too expensive.\u201d<\/p>\n<p>\u201cThe way prices with everything have gone up, I\u2019ve had to start cutting back on what I spend money on,\u201d Kahil, a high school student, remarked. \u201cThere\u2019s only one simple answer. Prices need to go where they used to be.\u201d<\/p>\n<p>\u201cI was using maybe $30 per week. Now I use almost $100,\u201d said Iliassou about his struggles to fill his gas tank. \u201cPeople don\u2019t have money in their pockets anymore.\u201d<\/p>\n<p>However, it seems that Yellen has <a href=\"https:\/\/www.dailywire.com\/news\/janet-yellen-admits-she-was-wrong-about-inflation-being-small-risk\">thrown in the towel<\/a> altogether on fixing the economy. \u201cI was wrong,\u201d she confessed earlier this week \u2014 forgetting that she was seemingly fully aware that the policies she has been pursuing would create a high price level environment.<\/p>\n<p>I am old enough to remember when Yellen <a href=\"https:\/\/www.dailywire.com\/news\/despite-skyrocketing-inflation-janet-yellen-will-keep-pushing-for-biden-spending-agenda\">insisted last year<\/a> that \u201cwe\u2019ve been fighting inflation that\u2019s too low and interest rates that are too low now for a decade,\u201d promising any potential inflation \u201cspurt\u201d from Biden\u2019s policies would fade away by 2022.<\/p>\n<p>Yet here we are in 2022 \u2014 and the same top fiscal policymaker who entered office on a <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0003\">vow<\/a> to battle the \u201ccrisis of systemic racism\u201d in the economy has nothing better to offer than \u201cI was wrong\u201d on her inflation forecasts \u2014 even as disadvantaged Americans suffer the most.<\/p>\n<p>\u201cEconomics isn\u2019t just something you find in textbook,\u201d she told her staff at the dawn of the Biden administration. \u201cNor is it simply a collection of theories. Indeed, the reason I went from academia to government is because I believe economic policy can be a potent tool to improve society.\u201d<\/p>\n<p>Perhaps Secretary Yellen needs to hit the streets of West Philadelphia and see whether society has improved because of her work.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With persistent inflation eroding Americans\u2019 buying power and tightening their budgets, one may think that the nation\u2019s fiscal policymakers would be all-hands-on-deck to resolve the problems. But for the Biden administration, \u201cPride Month\u201d takes priority. Consumer price inflation is currently at 8.3% \u2014 the metric\u2019s highest level in four decades. Gas prices are soaring past &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1502997,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1502990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1502990"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1502997"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1502990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1502990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1502990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}