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Monday, December 09, 2019 {{ new Date().getDay() }}

Reprinted with permission from MediaMatters

In the run-up to the 2014 midterm elections, cable news outlets — and Fox News in particular — fearmongered over an Ebola outbreak in Africa, before suddenly dropping the story after the votes were counted. Fox News figures pushed hard on the idea that President Barack Obama’s administration was inept at responding to a potential pandemic. 

As America faces a coronavirus pandemic under President Donald Trump, many of those same people are now singing a different tune.

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For a long time, inflation has been the phantom of the American economy: often expected but never seen. But the latest Consumer Price Index, which showed that prices rose by five percent from May of last year to May of this year, raises fears that it is breaking down the front door and taking over the guest room.

The price jump was the biggest one-month increase since 2008. It appears to support the warning of former Treasury Secretary Larry Summers, who wrote in February that President Joe Biden's budget binge could "set off inflationary pressures of a kind we have not seen in a generation." Senate Republican leader Mitch McConnell charged last month that the administration has already produced "raging inflation."

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