Art Laffer, a member of Ronald Reagan’s Economic Policy Advisory Board, joined Maria Bartiromo on Mornings with Maria on Friday morning as the new CPI number came out at 8.6% for May. This was the highest number since 1981. Prices on everything went up last month led by Joe Biden’s record energy prices.
Joe Biden’s May inflation numbers came out higher than expected at 8.6% — the highest number in 40 years.
Laffer says, “This is not a recovery… Total employment today is 800,000 lower than it was in 2020… This is not even a catch-up of where we were before. If you take the trendline from February 2020 on up we’re 5 million jobs short from where we should be had we just been on that trendline. This is a catastrophic economy. Whoever wrote that piece for Biden in the Wall Street Journal doesn’t know straightup from siccum.”
