{"id":1640327,"date":"2022-09-13T17:02:43","date_gmt":"2022-09-13T21:02:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1640327"},"modified":"2022-09-13T17:03:39","modified_gmt":"2022-09-13T21:03:39","slug":"joe-biden-parties-while-americas-retirement-accounts-burn","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-parties-while-americas-retirement-accounts-burn\/","title":{"rendered":"Joe Biden Parties While America\u2019s Retirement Accounts Burn"},"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\">16<\/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%2Fjoe-biden-parties-while-americas-retirement-accounts-burn%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=1640327&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>President Joe Biden worked on cementing his legacy as an American Nero Tuesday with a party at the White House while the U.S. economy crashes in response to the administration\u2019s reckless spending. <\/p>\n<p>The event, held to celebrate the Democrats\u2019 colossal $740 billion \u201cInflation Reduction Act\u201d before the package accelerates inflation, featured a performance from James Taylor who sang \u201cFire and Rain\u201d on the White House lawn as Wall Street panic sinks the stock market.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/figure>\n<p>Markets plunged Tuesday after <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">data<\/a> from the Department of Labor showed the inflation rate remaining near its highest rate in more than four decades. Consumer prices rose 8.3 percent in August from the same month a year ago. By Tuesday afternoon, the Dow Jones <a href=\"https:\/\/www.gpb.org\/news\/2022\/09\/13\/stocks-plummet-dow-drops-nearly-1300-points-after-worrying-inflation-data#:~:text=The%20Dow%20Jones%20Industrial%20Average,August%20from%20a%20year%20earlier.\" target=\"_blank\" rel=\"noreferrer noopener\">dropped<\/a> nearly 1,300 points, or 4 percent, while the S&#038;P 500 and Nasdaq fell by 4.3 percent and 5.2 percent respectively.  <\/p>\n<p>Tuesday\u2019s record inflation numbers follow months of persistent inflation antagonizing American consumers now forced to cope with higher prices everywhere from the gas pump to the grocery store. According to the Labor Department, food is up more than 11 percent from August last year and energy prices are up nearly 24 percent. While gas prices have dropped in recent months, Americans are <a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">paying<\/a> $1.28 more per gallon on average than they were <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=pet&amp;s=emm_epm0_pte_nus_dpg&amp;f=m\" target=\"_blank\" rel=\"noreferrer noopener\">when<\/a> Biden took office. <\/p>\n<p>The 8.3 percent spike in the overall consumer price index cooled from 8.5 percent in July and 9.1 percent in June but remains at an unsustainable pace that\u2019s a source of anxiety for both Wall Street and consumers. <\/p>\n<p><a href=\"https:\/\/www.dailywire.com\/news\/american-households-lost-6-trillion-in-three-months\" target=\"_blank\" rel=\"noreferrer noopener\">According<\/a> to data from the Federal Reserve out Friday, American households lost $6 trillion over the prior three months as inflation fueled by government spending wreaks havoc on home finances. <\/p>\n<p>But the crumbling state of the U.S. economy, which has now seen two consecutive quarters of negative growth, didn\u2019t stop President Biden from holding a White House party complete with attendance from Democratic leadership and thousands of supporters. <\/p>\n<p>\u201cWhile MAGA Republicans are fixated on their extremist agenda like a national abortion ban, Democrats are focused on creating jobs, lowering costs, and bringing the country together,\u201d <a href=\"https:\/\/www.youtube.com\/watch?v=e70YvjxoKvE\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a> Senate Majority Leader Chuck Schumer. The note on abortion was a clear shot at South Carolina Republican Sen. Lindsey Graham, who Tuesday proposed a ban on the deadly procedure after 15 weeks of pregnancy with exceptions for rape, incest, and risks to the mother\u2019s life. Democrats are rejecting the measure that would put U.S. abortion policy in line with <a href=\"https:\/\/thefederalist.com\/2022\/09\/13\/make-democrats-defend-their-abortion-extremism\/\" target=\"_blank\" rel=\"noreferrer noopener\">nearly every European nation<\/a> the party so vocally admires. Despite <a href=\"https:\/\/www.cbsnews.com\/news\/abortion-opinion-poll-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">poll<\/a> after <a href=\"https:\/\/www.pewresearch.org\/religion\/2022\/05\/06\/americas-abortion-quandary\/\" target=\"_blank\" rel=\"noreferrer noopener\">poll<\/a> showing Americans overwhelmingly reject allowing on-demand abortion at any point of pregnancy, Democrats continue to claim they have the moral high ground on the issue. <\/p>\n<p>Meanwhile, Biden \u2014 when not hosting parties at the White House \u2014 has shifted his focus to the demonization and outright prosecution of political opponents two months before the November midterms. The president kicked off election season with a speech at Independence Hall, in front of a blood-red background and flanked by Marines, where he <a href=\"https:\/\/thefederalist.com\/2022\/09\/08\/bidens-maga-republican-screed-gives-gatekeepers-the-greenlight-to-purge-political-foes\/\" target=\"_blank\" rel=\"noreferrer noopener\">wrote off<\/a> half the country as a \u201cthreat\u201d to \u201cthe very soul\u201d of America. Biden\u2019s Justice Department escalated the president\u2019s attacks on political opponents with more than <a href=\"https:\/\/www.politico.com\/news\/2022\/09\/12\/justice-subpoena-trump-aides-00056274\" target=\"_blank\" rel=\"noreferrer noopener\">three dozen<\/a> subpoenas of individuals associated with former President Donald Trump or his 2020 campaign, after Trump\u2019s Florida residence was raided by FBI officials. <\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Tristan Justice is the western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan graduated from George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n<div class=\"article-comments mt-30 mt-sm-60\">\n<div class=\"article-comments-container d-flex flex-column align-items-center py-30\">\n    <img loading=\"lazy\" decoding=\"async\" width=\"110\" height=\"106\" src=\"https:\/\/thefederalist.com\/wp-content\/uploads\/2021\/12\/fdrlst-mark.svg\" class=\"img-fluid mb-20\" alt=\"The Federalist logo eagle mark\" \/>    <\/p>\n<p>Unlock commenting by joining the Federalist Community.<\/p>\n<p>    <a href=\"https:\/\/thefederalist.com\/plans\/pricing\/\" class=\"btn btn-on-white\">Subscribe<\/a>  <\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden worked on cementing his legacy as an American Nero Tuesday with a party at the White House while the U.S. economy crashes in response to the administration\u2019s<\/p>\n","protected":false},"author":494,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1640327","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\/1640327","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\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1640327"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1640327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1640327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1640327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1640327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}