We’ve been warning about impending economic issues for nearly two years. Joe Biden and his Democratic colleagues, on the other hand, ignored the warning signs and pushed for drastic budget cuts.
As Biden strove to address problems and created his fair share, the cost of everything skyrocketed in the last year. He’s now scrambling to devise a strategy.
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From AP News:
President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks and the president’s public approval.
Biden is only now meeting with the Federal Reserve to explore possibilities after over a year of inflation and issues. Joe also presented a list of goals for reducing inflation, but none of them appear to be short-term solutions.
However, the majority of experts agree on one point: it’s too late.
Prices for just about everything Americans buy — gas, groceries, housing, cars, clothes, even TVs — have spiked in the past two years…
And it all seemed to catch Washington by surprise.
On July 19, 2021, President Biden played down the risk of persistent inflation, telling reporters that price hikes “are expected to be temporary.” This month, Biden called reining in prices his “top domestic priority.”
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Only now, as Biden prepares for a tumultuous midterm election season, is he putting inflation first. This occurs after disregarding the warning indicators for almost a year.
Experts now believe that Washington was late in responding to the crisis, and that any solutions proposed by Biden will be insufficient.
Inflation occurred, largely due to Biden’s efforts. The media may point the finger at 2020 and Russia, but we already know the reality.
By the end of 2020, America had recovered from the lockdowns. However, Biden’s “American Recovery Act,” which generated inflation by flooding the economy with $1 trillion in fresh money, put an end to that.
It also kept millions of people out of work, putting a pressure on firms that were attempting to reopen.
Not to mention Biden’s refusal to discuss the supply chain. And his open border policy, which resulted in nearly one million newcomers flooding the country.
His government is now scrambling to find a solution. He only now knows how much it will cost Democrats in November, not because he appears to care.