Biden Casts Himself as Champion of Lower Inflation Rates

President Biden on Tuesday delivered the first salute of his redesigned midterm message. Declaring that fighting inflation would be “a top priority in my country,” he said the two top causes of soaring prices were “a century-old pandemic” and “Mr. Putin’s War in Ukraine”. But that’s not correct.

The main cause of inflation is too much government spending – specifically last year’s $1.9 trillion American Rescue Plan. Chairperson Bill ClintonMinister of the Treasury, Larry Summers, warned then that “there’s a chance” its passage “will cause inflationary pressures of the kind we haven’t seen in a generation.” He was right, and we all paid a higher price as a result.

https://www.wsj.com/articles/biden-casts-himself-as-the-inflation-hero-prices-taxes-spending-stimulus-deficit-11652297040 Biden Casts Himself as Champion of Lower Inflation Rates

Alley Einstein

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