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we have a lot for you this hour, and we re following several major stories. president biden is about to sign a pact act, a major piece of legislation aim at expanding resources and benefits for millions of benefits exposed to those burn pits and other toxic substances. we ll take you live to the white house in just a moment for the signing. and it is just an extraordinary legal week for former president donald trump as he faces several major investigations. right now former president trump is sitting for a deposition with the new york attorney general s office, and this is in connection with a civil investigation into his businesses finances. it does come just two days after the fbi search his florida home known as mar-a-lago. the justice department was concerned trump had not returned sensitive documents. we have former details about how the president may frame his defense. let s begin this morning at the white house where president joe biden is about to sign that ....
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 ....
now. president biden was wrong back in december when he predicted that inflation was at its peak and said this. i think you ll see it change sooner than quicker, more rapidly than it will take than most people think. leader mcconnell is standing by. first, gene sperling. good to have you with used too. the question that comes up again and again is that the messages that we received from all left fields of the white house and treasury have been wrong. so how did you get this so wrong? well, martha, the white house and the treasury department were saying last year and i can t stress this enough, reflected the overwhelming economic consensus in the private sector, in the u.s. and other places around the world. it wasn t so much it wasn t the people were wrong with the facts that they had. it s that things happened after that that affected the outcome. so we had not just delta, but omicron. we had gas prices at $3.31 january 17 when putin first started doing milit ....
on both. and the reason he has the worst overall is because inflation is eating his presidency alive at this point. jesse: the democratic sharks are circling and cnn is putting a play on the presidency. reeling from another series of batter and poll numbers on the disastrous handling of everything. the latest survey reveals only 18% of americans want to see him run and destroy the company to enact country a second time. those numbers have democrats back at home measuring the drapes outside the oval office, and gavin newsom looking pretty comfortable walking around the white house grounds while the president is away. the liberal leader has been dropping subtle clues he is itching to run for president after running attack ads against ron desantis and urging floridians to move to california. at some laying out as 2024 of vision in the speech. i do believe that education is under assault in ways that i ve never experienced in my lifetime. i really believe that. but what ....
the illegal server taking the fifth, i think it s disgraceful. have you seen what is going on in front of congress? fifth amendment, fifth amendment, fifth amendment. horrible. horrible! the lawyers are deposing trump in a civil investigation by the new york attorney general. she s looking into the donald trump organization s allegedly misleading of lenders and insurers and tax authorities by providing inaccurate financial statements. add this to the list of legal troubles facing the former president. including a probe of documents. monday s search has his supporters urging him to move up the announcement of the 2024 run. cnn has the latest on the deposition from outside the new york attorney general s office. what is the president saying about why he took the fifth? reporter: well, victor, as you have played in the montage, you can see it s a different tune today that the former president saying he s not answering questions and asserting his fifth amendment right. ....