{"id":963594,"date":"2021-11-03T17:14:25","date_gmt":"2021-11-03T21:14:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=963594"},"modified":"2021-11-03T17:14:30","modified_gmt":"2021-11-03T21:14:30","slug":"former-obama-auto-czar-on-inflation-americans-losing-purchasing-power-are-really-unhappy-about-it","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-obama-auto-czar-on-inflation-americans-losing-purchasing-power-are-really-unhappy-about-it\/","title":{"rendered":"Former Obama Auto Czar On Inflation: Americans Losing Purchasing Power, \u2018Are Really Unhappy About\u2019 It"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><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%2Fformer-obama-auto-czar-on-inflation-americans-losing-purchasing-power-are-really-unhappy-about-it%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=963594&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>Former Obama administration economic adviser Steven Rattner, now an MSNBC economic analyst, signaled on Wednesday morning that Democrats are facing electoral problems in part because American\u2019s lives are not improving under President Joe Biden.<\/p>\n<p>\u201cIn fact, American\u2019s lives aren\u2019t better necessarily\u201d because real wages had declined once inflation was accounted for, Rattner said. \u201cThis is inflation. And this is what the American people are really unhappy about. Inflation, for the first time in a long time, is polling number one, broadly speaking across the nation as the issue.\u201d<\/p>\n<p>\u201cAmericans are actually losing purchase [power], for all that you read about wage increases, Amazon and this, and so on, Americans wages are actually going down at the moment in real terms after inflation,\u201d Rattner continued. \u201cGas is $3.40 across the nation. That\u2019s the highest since 2014. There was a poll in October in which 89% of Americans said they were very concerned about the economy. There was a poll in October also that said that half the Americans expect the economy get worse, not better, over the next few months.\u201d<\/p>\n<p>WATCH:<\/p>\n<p lang=\"en\" dir=\"ltr\">It\u2019s always the economy. Even amid a better-than-ever job market, elevated inflation has Americans worried about their wallets. <a href=\"https:\/\/twitter.com\/Morning_Joe?ref_src=twsrc%5Etfw\">@Morning_Joe<\/a> <a href=\"https:\/\/t.co\/lJZBGYjOFA\">pic.twitter.com\/lJZBGYjOFA<\/a><\/p>\n<p>\u2014 Steven Rattner (@SteveRattner) <a href=\"https:\/\/twitter.com\/SteveRattner\/status\/1455961797870202885?ref_src=twsrc%5Etfw\">November 3, 2021<\/a><\/p>\n<p>TRANSCRIPT:<\/p>\n<p><em>STEVEN RATTNER, FORMER OBAMA ECONOMIC ADVISER: Let me show you the answer in chart number three, which is, in fact, American\u2019s lives aren\u2019t better necessarily because when you look on the left here, this shows you what happens to real wages, wages after adjustment for inflation. And you can see the dotted line is the trend line, and real wages after inflation actually jumped up during the pandemic, mostly because prices went down. But what\u2019s happened since then? This is inflation. And this is what the American people are really unhappy about, inflation for the first time in a long time is polling number one, broadly speaking across the nation as the issue. And so you can see, in fact, that pink area shows you the gap between the trend line, where wages were supposed to be going, and where real wages after adjustment inflation actually going. Americans are actually losing purchase [power], for all that you read about wage increases, Amazon and this, and so on, Americans wages are actually going down at the moment in real terms after inflation. Gas is $3.40 across the nation. That\u2019s the highest since 2014. There was a poll in October in<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Obama administration economic adviser Steven Rattner, now an MSNBC economic analyst, signaled on Wednesday morning that Democrats are facing electoral problems in part because American\u2019s lives are not improving under President Joe Biden.\u201cIn fact, American\u2019s lives aren\u2019t better necessarily\u201d because real wages had declined once inflation was accounted for, Rattner said. \u201cThis is inflation. And this is what the American people are really unhappy about. Inflation, for the first time in a long time, is polling number one, broadly speaking across the nation as the issue.\u201d\u201cAmericans are actually losing purchase [power], for all that you read about wage increases, Amazon and this, and so on, Americans wages are actually going down at the moment in real terms after inflation,\u201d Rattner continued. \u201cGas is $3.40 across the nation. That\u2019s the highest since 2014. There was a poll in October in which 89% of Americans said they were very concerned about the economy. There was a poll in October also that said that half the Americans expect the economy get worse, not better, over the next few months.\u201dWATCH:It\u2019s always the economy. Even amid a better-than-ever job market, elevated inflation has Americans worried about their wallets. @Morning_Joe pic.twitter.com\/lJZBGYjOFA\u2014 Steven Rattner (@SteveRattner) November 3, 2021TRANSCRIPT:STEVEN RATTNER, FORMER OBAMA ECONOMIC ADVISER: Let me show you the answer in chart number three, which is, in fact, American\u2019s lives aren\u2019t better necessarily because when you look on the left here, this shows you what happens to real wages, wages after adjustment for inflation. And you can see the dotted line is the trend line, and real wages after inflation actually jumped up during the pandemic, mostly because prices went down. But what\u2019s happened since then? This is inflation. And this is what the American people are really unhappy about, inflation for the first time in a long time is polling number one, broadly speaking across the nation as the issue. And so you can see, in fact, that pink area shows you the gap between the trend line, where wages were supposed to be going, and where real wages after adjustment inflation actually going. Americans are actually losing purchase [power], for all that you read about wage increases, Amazon and this, and so on, Americans wages are actually going down at the moment in real terms after inflation. Gas is $3.40 across the nation. That\u2019s the highest since 2014. There was a poll in October in which 89% of Americans said they were very concerned about the economy. There was a poll in October also that said that half the Americans expect the economy get worse, not better, over the next few months. And you can see that in the chart on the right, which compares sentiment about jobs to just general sentiment. And you can see that they track closely, closely, closely, and then suddenly they diverge. Why did they diverge? Americans know there are a lot of jobs, but they\u2019re still unhappy about the economy because of inflation, because of the purchasing power.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":134,"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-963594","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\/963594","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\/134"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=963594"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/963594\/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=963594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=963594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=963594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}