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Vice President Kamala Harris cast the tie-breaking vote in the Senate for the first COVID-19 stimulus package in 2021 which led to inflation, in what critics call a sign of what’s to come in a possible Harris administration.
Harris, who is the President of the Senate, has cast the most tie-breaking votes in the Senate of any vice president, a total of 33 thus far. Her second tie-breaker was for the stimulus package at the beginning of the Biden administration, which has significantly impacted the economy, as inflation has skyrocketed.
Harris cast the tie-breaking vote in the Senate for the $1.9 trillion stimulus package in February 2021 before it was sent over to the House of Representatives and passed.
Following the passage of the stimulus package, inflation increased significantly.
The U.S. inflation rate was 1.4% in 2020, then jumped to 7% in 2021. President Biden repeatedly said he "inherited" a 9% inflation rate, which CNN called false.
Last year, the Russian central bank more than doubled interest rates to tame prices. Inflation, though, kept rising, hitting over 9% this month, with a vast range of goods and services becoming costlier, from potatoes (up 91% so far this year) to economy-class flights (up 35%).
The central bank lifted its benchmark rate another 2 percentage points on Friday to 18%, making it one of the few central banks in the world to raise rates this year.
Inflation has become a hard-to-shake feature of Russia’s war economy. Even as price rises have moderated across much of the developed world, Russia’s struggles with price stability are getting worse.
A surge in military spending by the government and a record labor shortage, as working-age men go to the front or flee, have fueled wages and pushed up prices.
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“In the inflation fight, Russian authorities have no good options—they can’t stop the war, they can’t solve the labor problem, they can’t stop raising wages for the population,” said Alexandra Prokopenko, a former Russian central-bank official...
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The government reverted to Soviet-style military spending—equivalent to around 7% of gross domestic product—as the main driver of economic growth. Factories that churn out tanks, drones and soldiers’ clothing work in multiple shifts, seven days a week. That, in turn, has lifted wages and boosted prices.
The central bank had held its benchmark rate at a relatively high 16% since December, but it had little effect on prices. To tamp down out-of-control housing prices, authorities this month ended a popular mortgage subsidy that offered discounted rates as low as 8%, half the central bank rate.
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Borscht Index, a website whose cost-of-living gauge tracks the prices of beets, sour cream and other ingredients of the traditional hearty soup, reports a 26% increase compared with last year
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The government reverted to Soviet-style military spending—equivalent to around 7% of gross domestic product—as the main driver of economic growth.
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net