What Could Possibly Go Wrong? Biden Tells Merchants To Lower Prices, Will Use Defense Production Act

Man, we hate being right all the time. The other day, this writer asked if Biden -- in an effort to combat ongoing inflation and increased prices -- would impose price controls to artificially lower prices and help his re-election bid. Well, he seems to be heading in that direction: Biden says prices ‘too high,’ asks sellers to lower them after 18% inflation. From The New York Post: President Biden acknowledged Monday that prices are still “too high” and argued that companies should lower them after an 18% jump in consumer costs since he took office. “We know that prices are still too high for too many things — that times are still too tough for too many families,” the 81-year-old said near the White House.Show more

“We’ve made progress, but we have more work to do,” Biden added. “Let me be clear to any corporation has not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt: It’s time to stop the price gouging and give the American consumer a break.” The prices of some goods, such as food products, are expected to decline in the coming months, but periods of general deflation are rare in US history. Biden previously used his bully pulpit to try to pressure oil companies to take action to lower gas prices last year. -- It's almost as if shutting down the economy for a long time has far-reaching, long-lasting consequences, no? It also shows Biden, and his administration, have no idea how businesses are run, or why prices are the way they are.

Every expense, including fees and taxes imposed by the government, gets passed on to consumers. That's how this works. When you make it more expensive to do business, as the Biden administration has, consumers feel the pinch. Joe thinks businesses should just willingly take losses on sales to offset the impact of inflation he helped create? This, after he just spent his Thanksgiving holiday at his billionaire donor’s coastal mansion? Must be nice🥴! Wait, didn’t he tweet that prices were lower than ever earlier today? I’m confused. He was certainly bragging about lower prices on November 22: Folks, no matter where you're headed this holiday season, you'll be heading there for less. Gas prices are down $1.70 from their peak, airfares are down 13%, and car rental prices are down about 10%. And we're not done taking action to get those prices down even more.

So what changed, Joe? Brilliant strategy let's see how this plays out: Brace yourselves for rationing and scarcity. The guy who caused inflation now asks businesses to sell merchandise at a loss to help him politically. That's some great leadership from our vegetable-in-chief. It really does smack of 'Please help me get re-elected!', doesn't it? Say what you will about Trump, and I do, but at least his economic plan wasn’t “Come on, man.” Can't argue with this. The Biden administration couldn't run a lemonade stand. But here he is, telling businesses to eat significant losses. Retailers in NYC have lost $4.4 billion to shoplifters emboldened by Democrat policies. Let's really drive them out of business. And the administration is going further:

The White House has announced it plans to use a cold-war era law to ease supply chain issues that the administration argues are contributing to higher inflation – a key electoral challenge to Joe Biden’s re-election chances next year as polling consistently suggests voters are not buying his Bidenomics pitch. In a statement, the White House said Biden will use the Defense Production Act to improve the domestic manufacturing of medicines deemed crucial for national security and will convene the first meeting of the president’s supply chain resilience council to announce other measures tied to the production and shipment of goods. “We’re determined to keep working to bring down prices for American consumers and ensure the resilience of our supply chains for the future,” said Lael Brainard, director of the White House national economic council and a co-chair of the new supply chain council, in a separate statement.

We're constantly being told the economy is doing great. Best economy ever, prices are down, wages are up, and things are just peachy. Except things aren't. And people know this. Gaslighting by the administration is not going to convince anyone that everything is unicorns and rainbows when they're paying more for basic necessities. And now, in an attempt to lower prices, Biden is not only ordering companies to take it on the chin, he's going to overstep his authority and invoke the Defense Production Act. Things are just fine. Everything is fine.

Twitchy: What Could Possibly Go Wrong? Biden Tells Merchants To Lower Prices, Will Use Defense Production Act
https://twitchy.com/amy-curtis/2023/11/29/biden-price-controls-n2390248
New York Post: Biden admits prices ‘too high’ but blames sellers for 18% inflation
https://nypost.com/2023/11/27/news/biden-says-prices-too-high-asks-sellers-to-lower-them/