Connect with us

Hi, what are you looking for?

Business

Adam Brandon: Biden Needs To Take the Blame for Inflation

Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and “ultra-MAGA” Republicans. The president said that his policies, and the nearly $7 trillion in spending he authorized, have nothing to do with inflation.

None of this holds up under scrutiny. While President Biden claims that corporations are ripping off Americans, the costs of their supplies have been increasing at a record rate. In reality, many companies that Biden claims are stiffing consumers have actually lost money because they don’t want to alienate their customers by raising prices too quickly.

Biden’s blame of the war in Ukraine for inflation is similarly untethered from the facts. As one look at the chart of inflation in the United States shows, inflation was rapidly approaching its current level before Putin’s invasion began. Gas prices have also been rising steadily for the past year, undercutting Biden’s claim that “Putin’s price hike” is the reason Americans are paying more at the pump.

But perhaps no claim is as tenuous as Biden blaming Republicans for inflation. Biden declared that the GOP has “no plan” to combat inflation and said that the Democratic party’s economic policies have helped the situation, rather than making it worse.

This cannot logically be true. Trillions of dollars in federal spending over the past two years, coupled with a manufactured shutdown of the economy and misguided monetary policy on the part of the Federal Reserve, created today’s inflation crisis. And although both parties in Washington can be rightly criticized for green-lighting this spending, President Biden and the Democrats deserve the lion’s share of the blame. After all, their proposed “fix” for inflation is to double down and spend even more money, one of the approaches that got us here in the first place.

In March of 2021, Biden and his allies in Congress authorized a $2 trillion spending spree. While the left called this the “American Rescue Plan,” it didn’t rescue anything. The bill flooded the economy with wasteful federal spending, even as it became clear that inflationary pressures were beginning to heat up.

See also  Poll: Most Voters Think Others Are Making Decisions for Biden in White House

Biden then signed a $1 trillion infrastructure bill into law in November that many experts warned would fuel inflation. It wouldn’t have stopped there if President Biden and Democrats were able to pass their multi-trillion dollar “Build Back Better” plan.

It isn’t just Republicans acknowledging that these policies created inflation. Even economists from Democratic presidential administrations, including Jason Furman and Larry Summers, are calling out Biden for his lies about inflation.

It’s also ironic that while Biden criticizes Republicans for “not having a plan” to bring down inflation, he and his party are championing an additional $40 billion in taxpayer money for Ukraine. Not long ago, Americans would have been shocked by that much spending. This is in addition to the recent White House proposal of a $5.8 trillion federal budget for 2023, a number that would have been unthinkable just a few years ago.

If President Biden were serious about combating inflation, he would be calling for immediate cuts in federal spending and a scaling back of government intervention in the economy. Instead, he wants to increase both – massively. Biden would rather blame corporate greed, Putin, and “ultra-MAGA” Republicans than take any meaningful action to address inflation.

Until President Biden and the Democrats can swallow their pride, get out of the way, and stop spending money we don’t have, Americans will continue to suffer and feel the sting of inflation.

Adam Brandon is the president of FreedomWorks and the author of “A Republic, Not a Democracy: How to Restore Sanity in America.” This piece originally ran at RealClearPolitics.

 

Author

Share Story Via Text or E-Mail
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Us on Social Media

Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

Article Archives

Related Stories

Most Recent

I am a conservative, a registered Republican, and philosophically, could be categorized as a traditional Classical Liberal, although that term is about as extinct...

Elections

Two weeks after President Joe Biden’s poor debate performance spurred panic among Democratic Party leadership, new poll results indicate that American voters are skeptical...

Elections

Calls for President Joe Biden to not run for reelection are going nowhere with Joe. He, Jill, convicted felon-Hunter, and the rest of the...

Elections

GUEST OP-ED BY BARNEY BISHOP This is rich. The convicted felon that is First Son Hunter Biden, and Scamming-Enabler First Lady Jill Biden, and...

Elections

Reports indicate that First Lady Jill Biden is refusing to let advisors and leaders in the Democratic Party persuade President Joe Biden to stop...

Elections

The national media is trying to suggest that President Joe Biden can win Florida. Democrats and the press have several reasons for suggesting that...

Gun Rights

President Biden’s U.S. Surgeon General, Dr. Vivek Murthy, says that firearm violence has become a national public health emergency. In a 39-page plan, Murthy...

Elections

Getting your Trinity Audio player ready... A poll known for right-leaning sample audiences revealed recent poll numbers that show 80% of voters surveyed said...