not ones to write home about. 11.3% is the jump in wholesale prices from a year ago and came in lot steamier than economists predicted coming off the you know what it feels like when you buy things. consumer prices are up substantially. fastest pace we ve seen since 1981 back in reagan years. you have to go to art laffer to find that out. white house points out wages are up. here is the deal. wages aren t rising at the pace of inflation. you look at a pay cut of 3.6%. if you crunch the numbers inflation is costing the average american household $500 a month. setting on fire every single month because you aren t getting anything for that $500. bill: questions now including this how did we get here? many economists blame out of control government spending along the way. democrats are passed more than $3 trillion in new spending under president biden and they aren t taking their foot off the gas as they look to revamp build back better. let s go to mark meredith live f
Credit report. Thank you so much, ed. Thanks for joining us. The news continues now on cnn its wednesday, april 3rd, right now on cnn this morning buildings collapsed, people trapped taiwan, rocked by the most powerful earthquake to hit the island in 25 years. Powerful storms, triggering dangerous floods and tearing off rooftops in the heartland here in america and donald trump back on the trail predicting the end of elections in america. If he loses to joe biden again all right 5 00 a. M. Here in washington live. Look at capitol hill on this misty wednesday morning good morning, everyone on kasie hunt, its wonderful to have you with us. We begin with Breaking News taiwan rocked by a deadly 7. 4 magnitude earthquake. Its the most powerful earthquake to hit the Island Nation in 25 years. Heres what we know right now, Rescue Efforts are underway more than two dozen buildings have collapsed, and people are trapped. The epicenter of the quake located just south of the tourist city of huali
in our toss-up races. you look at this map now and you think what are americans voting on? think again as we take a walk back here with the new york times poll told us about the economy and your pocketbook and the economy really being issue number one in a prominent way as we cannot get this this tough deal we re in right now. on inflation. it is costing all of us. that s that. it is very interesting to look at where the tight races are and see those numbers are higher and you have to ask yourself if by the time you get to this election and potentially the next one if what you will see is increase in unemployment. once you see these inflation numbers you start to see companies make different choices about how much how many people they can employ and necessary pain actually according to larry summers to start to cool things down. that unemployment will rise. bill: this jobs thing is the next one. special report from the white
year this year. this suggests to me next year we re looking at growth in the 2s. not a great argument for a president who said i will unleash this economy in ways you ve never seen before and make america great again. i think ways you have never seen before, and make america great again. it may be slowing down as we head towards 2020. if you recall, just a couple weeks ago, lara lee trump says everyone knows it was president trump who turned the economy around. they might have to fill you in on how exactly that worked. to that point, ben, the washington post has a piece out that says the economy is booming, and if you use every rational metric out there, it looks that way, but its a split economy, the same split economy we sought in the obama administration where the labor force continues to suffer and at this point suffer even worse than before. no doubt about it. i think the jobs thing is really
missiles. we ll buy them from china or we ll buy them from russia. that s better, much better. there is a lot in there. he s talking about a $110 billion order and a concurrent number of jobs somewhere in this country. what s the truth? so these orders don t always match up to what ends up being sold to the saudis. this is a $110 billion deal. the president likes to tout that as the biggest arms deal we ve ever made. we don t know exactly what that works out to be in the value of things that are bought from boeing and lockheed and raytheon. we don t know where the 500,000 jobs thing comes from, either. saudi arabia is the biggest buyer of arms for a reason. they are actively involved in wars, including one in yemen, but they have little proxy wars going on all over the place. they have depended on american hardware and software for decades. it s their whole setup. it s how their pilots are trained, how their soldiers are trained.