If you listen to Jen Psaki, the White House press secretary long enough, you almost start to believe the lies about why there’s so much inflation. We’ve all seen the cost of goods skyrocket, but the Biden administration refuses to accept any of the blame.
Psaki wants to blame the majority of it on the meatpacking industry. They’re the reason why beef costs more. But…that doesn’t really explain why everything else is more expensive, too.
The moment Biden got into office, he canceled pipelines, which increased the cost of gas. When everything costs more to transport, it impacts the cost of goods.
And there’s the mandates. And there’s the unemployment.
Oh, but wait. There’s also the spending that Biden has been doing – and an Obama-era economic official Steven Rattner is blaming Joe Biden for the inflation we’re all experiencing.
Rattner decided that it was time to push back on the explanations that the Biden administration has been giving on the inflation crisis. His op-ed within the New York Times has been extremely eye-opening – and it shows that the liberals in charge have no idea what they’re doing or how to accept blame when they do something wrong.
Biden loves to talk about how the issues with the supply chain are hurting the economy and causing inflation. Ratter explains this as “simplistic and misleading.”
Well, that’s our president. He’s about as simple and misleading as one can be – we just can’t figure out if it’s because he’s an idiot or because his dementia has officially set in.
Rattner ridiculed Biden’s response further by saying “Blaming inflation on supply lines is like complaining about your sweater keeping you too warm after you’ve added several logs to the fireplace.”
We have to look at the numbers to see just how bad things have gotten. The Consumer Price Index has reached a 40-year-high. This means that things haven’t been this bad in the U.S. since 1982. Energy and food prices seem more impacted by the CPI than anything else. It’s why our electric bills are higher, our cost at the fuel pumps is higher, and why grocery shopping is no longer enjoyable.
Rattner believes that the cause of inflation is a spike in consumer spending. Now, why was there a spike in consumer spending? Well, that’s easy – there have been large injections of cash into the economy.
“The bulk of our supply problems are the product of an overstimulated economy, not the cause of it.”
While there were two stimulus checks issued during the Trump administration, the majority of the cash injections are due to Biden.
We can point out all of the different injections. A third stimulus check. An advance of child tax credits. Extended unemployment benefits. A pause on student loan payments. All of this gives Americans more cash in their pockets – and when you combine that with a significant amount of underspending during the lockdown phase of COVID, it means that people were spending money like they had a hole in their pocket.
If Rattner had some advice to offer the Biden administration, it would be to change their tactic immediately. Right now, the administration is going to simply allow inflation to climb. “It should make deficit reduction as important as its other initiatives.” The problem is, there are too many progressives with expensive agendas – and they’ll spend and spend instead of save and save – and that’s only going to hurt our economy even more.