How Biden's Agenda Is Causing Inflation
Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.
----------------
The Consumer Price Index (CPI) tracks the cost of everyday items. It's jacked up a whopping 6.8 percent over the past year, the biggest increase in almost 40 years. Gas is up 51 percent, beef is up 20 percent, and furniture by 11 percent.
This is making the nightly news sound a little too much like a rerun of That '70s Show, a sitcom set in a decade famous for ever-rising prices and useless "Whip Inflation Now" buttons that Gerald Ford tried to stick on everybody from running mate Bob Dole to former Beatle George Harrison.
Back in the 1970s, Ford was better known for literally and figuratively stumbling than for his economic acumen, especially when it came to inflation, which soared into double digits shortly after he took office. Ford believed that the way to beat inflation was to browbeat companies into keeping prices down and Americans into becoming bargain hunters. He declared a war on high prices, referring to inflation as "domestic enemy number one."
"I pledge to my fellow citizens that I will buy, when possible, only those products and services priced at or below present levels," promised Ford.
Joe Biden is looking reminiscent of the 38th president, and not simply because he also has trouble with airplane steps.
Biden, his advisers, and his champions in the press are ignoring the tough lessons of the past by downplaying inflation or bizarrely claiming it only freaks out rich people. Then there's leading Democrats like Sen. Elizabeth Warren (D–Mass.), who seemed to be channeling Gerald Ford when she tweeted out that the reason "your Thanksgiving groceries cost more this year" was "because greedy corporations are charging Americans extra just to keep their stock prices high."
Even worse, Biden and crew are delusionally pronouncing that we can tame inflation by pumping massive amounts of government money into the economy—a course of action that will almost certainly make everything more expensive. "What this package will do is lower some of the most important costs, what [families] pay for health care, for child care. It's anti-inflationary in that sense," said Treasury Secretary Janet Yellen in defense of the recently passed $1.2 trillion infrastructure bill and promises of even-bigger bills related to the president's "Build Back Better" agenda.
-
LIVE
RealAmericasVoice
20 days agoREAL AMERICA'S VOICE 24/7
5,606 watching -
19:24
Cody and Kellie
6 hours agoSummiting the Third Tallest Peak in Oregon
12.6K11 -
4:23:07
LumpyPotatoX2
6 hours agoFortnite on Sunday - #RumbleTakeover
22.8K3 -
13:20
barstoolsports
1 day agoWe Broke The MLB Home Run Record In 6 Hours
34.7K3 -
49:50
The Osbournes
5 days ago $15.94 earnedAre The Osbournes Leaving Hollywood?
115K111 -
10:48
Dr. Eric Berg
7 hours agoHow Grocery Stores TRICK US!!
47.9K43 -
22:41
GEN
8 days ago $0.04 earnedAsking Americans Who They Are Voting For (Post-Debate)
56.1K88 -
4:08:58
Fresh and Fit
18 hours agoFIGHT Happens During Stream!
154K145 -
6:20:00
Akademiks
21 hours agoDrake Declaring WAR on all his OPPS? Joe Budden Responds to Cardi B. J Prince Jr ready 2 go war??
180K63 -
29:52
Stephen Gardner
19 hours ago🔴The story just got worse...there's no way he acted alone AGAINST TRUMP!
148K725