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PrintJuly 16, 2023
Press roosters crow about Joe Biden's fake economic sunrise
Washington Post columnist Catherine Rampell would have you think what Joe Biden thinks -- that he is the hero of the American economy just because inflation has stopped ballooning:
If the U.S. economy ultimately achieves a coveted “soft landing,” it won’t be because we did a bunch of experimental things progressive populists agitated for.
It's garbage.
Joe Biden is still attempting to force people to buy electric cars and is handing out green goodies to people who claim they can control the climate.
There is also his intentional destruction of companies that produce reasonably priced energy. The price of crude oil is down from its high but is still over 75% higher than it was before he took office. (Note to Catherine: Please describe which of Biden's policies brought crude oil down.)
The price of energy affects everything. Crude oil is used in over 6,000 products.
Statistical inflation increases have been reduced to 3% or 4% but Americans are still suffering.
He is forcing all federal projects to use prevailing wages which inflate costs.
He is taking away the ability for healthy people to buy reasonably priced health insurance policies. Maybe you could revisit how Obamacare did not reduce prices as promised -- those prices skyrocketed.
His policy on school loans essentially rewards colleges for high tuition and other costs.
Giving Biden credit for lowering inflation is like giving him credit for reducing the number of people coming across the border after their numbers exploded or for creating 13 million jobs when most of the jobs are just coming back after dictatorial edicts from COVID lockdowns destroyed them.
Look at skyrocketing auto insurance rates and see what the poor and middle class are suffering with while statistical inflation is lower than it was. People don't buy a basket of goods each month.
The reason statistical inflation increases have been reduced to 3 to 4% from 9% is that the Fed, which is an independent body, hiked rates and turned off the money presses.
The only thing you got sort of right is that Biden may be letting Powell raise interest rates if he understands what is going on.
Is Biden going to brag to Social Security recipients about their COLA increase for 2024 like he did for 2023?
The average recipient will get around $40 per month more. What will they do with all that extra money since Biden' policies are working so well?
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