President Biden issued a statement, for example, that called the infinitesimal decline "Heartening." CNN ran a story titled, "US inflation slowed last month for the first time since August." This wasn't terribly comforting considering that the inflation rate has nearly doubled since last April while real wages declined by 2.6 percent.
Nor is it "Heartening" to see that Biden is still in denial about the role his administration's spending has played in igniting inflation.
So the administration should come clean with voters about the impact of its spending plans on inflation.
Biden's preposterous response to April's inflation figures suggests that he is unlikely to do that.
As out of touch as Biden is about the causes of inflation, his plan to fix the problem is even more delusional.
Biden says inflation is now his "Top priority." That's exactly what Jimmy Carter said the last time skyrocketing prices endangered the economy.
As the New York Times reported on April 11, 1978: "President Carter's speech today elevated the fight on inflation to top priority on his list of economic problems." At that time, the rate stood at 6.6 percent.
https://spectator.org/inflation-the-price-you-pay-for-bidens-delusions/
No comments:
Post a Comment