Inflation Soars More Than Expected

Reports this morning confirm that inflation isn’t slowing down, jumping to 9.1% in June — more than expected and reaching a new 40 year record high.

Americans are struggling to stay afloat as the economic crisis continues to worsen:

• RECESSION ON HORIZON: The odds of the U.S. economy falling into recession by next year are greater than 50%.
• AMERICANS WORSE OFF: 52% of American adults say they are worse off financially than they were a year ago.
• WAGES CAN’T KEEP UP: Americans are taking pay cuts as inflation outpaces wage growth.
• PESSIMISIM SOARS: Small business optimism has dropped to a near decade low.

“With Democrats controlling Washington, Americans’ pocketbooks are thinner than ever,” said CLF Press Secretary Cally Perkins. “Every Democrat will have to explain to voters that they sent prices through the roof and still have no plan to fix it.”