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Washington Post personal finance columnist Michelle Singletary said Americans are exaggerating the impact of inflation on their lives during a Wednesday segment on MSNBC.
“There’s a new poll from Politico, Morning Consult, which I think is quite telling. It shows that 38% of Americans say they would rather see a recession than the inflation we’re facing,” MSNBC host Chris Jansing said. “I’ve read that means more than a third of Americans are so pressed for what they have to pay for gas , food, everyday items, rent, that they would rather see a recession. Is that where we are right now?”
Singletary responded by saying too many Americans complain too much about inflation and said “the Biden administration is doing everything it can to help Americans.”
“You know, I’m just gonna say this, and if I get caught for this, I don’t care,” she said. “There are a lot of Americans who are uncomfortable spending more, but they’re not going to sink.”
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“You have to stop complaining when there are so many people that literally the rate of inflation means they can only eat two meals instead of three,” she added. “There are Americans who have done extremely well in the last two years in the market. You still have your job. And yes, it costs you more for gas, but guess what? You’re still going to take that vacation, that 4th of July vacation, you can still eat out.”
The Washington Post columnist went on to say that some Americans need to “calm down and back off.”
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She also urged Americans to stop checking their retirement accounts and instead focus on helping others.
“I try to calm myself down and try to help others understand what you can do and what you can do is keep saving,” she said. “If you don’t need to drive, don’t drive. If you can postpone a project, postpone it. restaurant and help save a business still trying to get through the pandemic.”
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Singletary writes “The Color of Money,” a national personal finance column that often includes discussions of race. Through his chronicles she criticized a reader for disagreeing with her and for seeing her experiences “through her white eyes”, and praised white people who repented for their alleged racial sins.
Inflation is at a 40 years tall based on a Consumer Price Index report released by the Department of Labor and gasoline prices recently topped $5 a gallon for the first time in US history.