Long before the war, inflationary pressures in America were evident. Just as the new government started on a spending frenzy that boosted consumer demand for every commodity, including food and gasoline, the White House’s green-energy programs began reducing oil supplies and squeezing consumers at the pump.
Larry Summers, the Obama-Clinton economist’s words Summer, who isn’t exactly a MAGA supporter, warned long before the Ukraine crisis that the bloated spending that Biden pushed through a Democratic-controlled Congress would result in 1970s-style price hikes.
Such economic ignorance in a president is alarming. It’s also concerning that the president insulted Putin almost as much as his fellow Americans who voted for Trump in his inflation address. He referred to them as “Ultra MAGA” or “MAGA Republicans,” as if they were a weird new breed of animal that voted for the former president.
He grouped them with Wisconsin Senator Rick Scott, who erroneously claimed that the GOP intends to raise taxes and let companies get away with not paying their fair amount.
Biden’s failed Build Back Better multi trillion-dollar spending folly, which would have pushed our already sky-high inflation rate of 8.3 percent far into the double digits, was the last tax hike I recall.
To combat inflation, Biden intends to invest heavily in so-called sustainable energy, such as windmills, electric vehicles, and solar panels, which will lessen our reliance on foreign oil.
