{"id":46881,"date":"2022-08-19T13:10:02","date_gmt":"2022-08-19T17:10:02","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=46881"},"modified":"2022-08-19T13:10:02","modified_gmt":"2022-08-19T17:10:02","slug":"a-new-level-of-spin-2","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=46881","title":{"rendered":"A New Level Of Spin"},"content":{"rendered":"

On Friday, Ed Morrissey posted an article at Hot Air<\/a> about the recent decline in gasoline prices. The article illustrates the spin the mainstream media is trying to put on the current price of gasoline. Although some of us a grateful for the recent decline in prices, most of us are also aware that gasoline prices averaged $2.379\/gallon on January 21, 2021 (source here<\/a>).<\/p>\n

The article reports:<\/p>\n

Nevertheless, CNN\u2019s Chris Isidore wants us to celebrate the $100 per month \u201craise\u201d we\u2019re all getting at the pump<\/a>, courtesy of The Most Beneficent Majesty of Joe Biden:<\/strong><\/p>\n

Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise.<\/strong><\/p>\n

The steady drop in gas prices over the last few months has turned into an unexpected form of economic stimulus, coming at a time when the Federal Reserve is trying to cool the economy and battle rising prices with higher interest rates.<\/strong><\/p>\n

Since hitting a record of $5.02 a gallon on June 14, the national average price for regular gas is down $1.10, or 22%, to $3.92, according to AAA. That average has now fallen for 67 consecutive days.<\/strong><\/p>\n

Since the typical US household uses about 90 gallons of gas a month, the $1.10 drop in prices equals a savings of $98.82.<\/strong><\/p>\n

You can believe that after the mid-term elections the Biden administration will not care what the cost of gasoline is. It will probably rise back up to $4.00 a gallon or more and then magically decrease to about $3.50 just before the 2024 election. That is how things work in Washington.<\/p>\n

The article at Hot Air concludes:<\/p>\n

Furthermore, the price didn\u2019t drop because the Biden administration brought massive new supplies into the market. The prices dropped due to a fall in demand for gasoline as it got too expensive for American consumers to use on vacations and other non-essential travel. That indicates an economic contraction on the way, not a pay raise.<\/strong><\/p>\n

This argument gets almost obscene when we consider what\u2019s happened to Americans\u2019 disposable income over the Biden presidency and the inflationary wave Biden created. For five straight quarters<\/a>, real disposable personal income \u2014 adjusted for inflation \u2014 has fallen<\/a> in a compounding series of buying-power setbacks for Americans. As I wrote the week before last:<\/strong><\/p>\n

In fact, with the exception of the massive sugar high of Biden\u2019s American Rescue Plan stimulus, real disposable personal income \u2014 which is adjusted for inflation \u2014 has been in negative territory throughout Biden\u2019s presidency. Those numbers are comparisons to the previous quarter, too, which means that this has a compounding effect. The most recent read of -0.5% on real disposable income is not from a baseline but shows a decline from the previous quarter\u2019s -7.8%, which was a decline from the previous quarter, and so on.<\/strong><\/p>\n

In other words, Q2\u2019s -0.5% wasn\u2019t an\u00a0improvement<\/em>. It merely showed that the rate of decline slowed, but that real disposable personal income was still declining<\/em>.<\/strong><\/p>\n

That\u2019s what CNN has the\u00a0cojones <\/em>to describe as a pay \u201craise\u201d in its economic \u201canalysis.\u201d It\u2019s breathtaking in its intellectual dishonesty.<\/strong><\/p>\n

This is only one example of what we should expect to see as we enter the political silly season.<\/p>\n

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On Friday, Ed Morrissey posted an article at Hot Air about the recent decline in gasoline prices. The article illustrates the spin the mainstream media is trying to put on the current price of gasoline. Although some of us a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1344,2425,1583,4050],"class_list":["post-46881","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-cnn","tag-gasoline-prices-in-the-us","tag-hot-air","tag-media-spin"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/46881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46881"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/46881\/revisions"}],"predecessor-version":[{"id":46882,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/46881\/revisions\/46882"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}