You may recall the 1973-74 Arab oil embargo, and not favorably.  

Democratic U.S. Senator Kyrsten Sinema said on Thursday she agreed to “move forward” on a $430 billion drug pricing, energy and tax bill.

Nearly two dozen Republican governors slammed a massive spending bill that Democrats are trying to ram through the U.S. Senate in a statement Thursday, saying that the bill will worsen inflation.

Some politicians in Washington don’t understand that increasing federal spending is one of the chief causes of inflation. Senate Democrats just rolled out new legislation titled the ‘Inflation Reduction Act.’

By: Kevin D. Williamson – nationalreview.com – July 27, 2022 When is a recession not a recession? When it is bad for Democratic incumbents. From time immemorial, the definition of “recession” in the financial press and the political conversation has been “two or more consecutive quarters of declining real GDP.” The Biden administration, fearing bad news in the near future,...

By: Phillip W. Magness – wsj.com – July 27, 2022 The Biden administration appears to be preparing for a recession—or rather, for news of one. Rather than tackling the underlying economic problems, the White House is playing word games. Economists have long defined a recession as “a period in which real GDP declines for at least two consecutive quarters,” to quote...

One economist instantly took the air out of the administration’s argument about what constitutes a recession.

The share of Americans who report having difficulties paying their bills has surpassed its 2020 pandemic peak in a US Census Bureau survey, underscoring the toll of soaring prices on budgets.

Biden’s economists emphasize a range of data showing expansion. Next Thursday, the Commerce Department will release its initial estimate of second-quarter growth. President Biden’s economic advisers are trying to lay down a marker now.

How can it be that with so much cattle in America, we sometimes can’t buy meat? At the beginning of the pandemic, Costco, Wegmans and Kroger limited purchases of beef.