Biden’s Inflationary Policies Will Be Keenly Felt at Christmas

Contact Your Elected Officials
RealClear Politics

The Biden Blue Christmas is heading this way. So far, his tenure in the White House has been marked by successive, self-created scandals, especially at the southern border and the totally botched exit from Afghanistan. But the most lasting, broadest policy blunder of all is the Biden economic crisis that will culminate in a holiday season of shortages, frustration, and economic malaise.

The latest data points showcase the severity of inflation’s surge, with last week’s Core PCE (personal consumption expenditure index) reaching the highest level in 30 years. That number validates the earlier consumer price index readings of June through August at 5.3% or above, the highest inflation levels since 2008. Compare that pricing spike with the end of the Trump term, when the 45th president handed off to Joe Biden a tame inflation rate of only 1.4% for January 2021. In fact, even as America aggressively reopened from pandemic restrictions in mid-2020, Trump engineered an economic recovery with inflation at 1.4% or lower for the last six months of his administration.

What caused the sudden and massive spike in prices? It was the gargantuan amount of reckless borrowing and radical spending initiated by the new president. Once Biden took office, encouraged by a complicit corporate media, he used his razor-thin Democrat majorities on Capitol Hill to take a government that was already borrowing and spending too much, and put the fiscal profligacy on steroids.

These spending orgies included massive incentives for Americans to not work, including hugely juiced jobless benefits and a sustained moratorium on paying rents. Unsurprisingly, this policy mix has resulted in a stubbornly low workforce participation rate. That lack of workers, in turn, has stymied and slowed the broader recovery, and amplified the systemic supply-chain breakdowns that plague the economy.

Even the biased Washington Post just admitted this dearth of workers as a cause of the disruptions, conceding that “there aren’t enough truckers or warehouse workers.” So, paying millions of people to stay home for months on end has lasting ramifications? Go figure.

By Steve Cortes

Read Full Article on RealClearPolitics.com

RealClear Media Group
RealClear Media Grouphttps://www.realclearmediagroup.com/
RealClear Media Group is a valuable source for the best news, analysis, and insights of the day and reaches an annual audience of 58 million readers.

Trump’s Middle East Triumph is Worth Celebrating Even As Peace Remains Elusive 

President Trump’s bold foreign policy defies globalist appeasement, showcasing unwavering American strength and decisive leadership on the world stage.

Are conservatives fighting a fiction of woke?

Wokery, it hurts to say it, is too disorganized to have an organized cosmology or doctrine of metaphysical belief.

Illinois Democrat Offenders Reveal Party

The crime of J.B Pritzker and Brandon Johnson in this episode of American history is called subversion at the least , but could be as serious as treason.

Inside the Public School Librarian Jihad to Keep Transgender Propaganda on Shelves

Public school librarians are doing all they can to keep child tranny propaganda flowing directly into the malleable minds of their charges.

Five Reasons Why The Latest Czech Elections Were So Important

Populist-nationalist politician Andrej Babis is poised to return to the premiership after his party's victory. Here are 5 reasons why this is so important.

New York AG Letitia James Indicted on Federal Charges

New York Attorney General Letitia James was indicted by a grand jury on federal charges, according to an indictment on unsealed on Thursday.

6 Ways Vaccine Policy Has Changed Under RFK Jr.

Health Sec RFK, Jr. and officials at the HHS changed recommendations and policies for multiple vaccines, including shots against COVID-19 and measles.

Journalists Recount Antifa Violence in Roundtable With Trump

President Trump met at the White House with journalists attacked by the newly designated terrorist group Antifa, joined by Cabinet officials for a roundtable.

IRS to Furlough 34,000 Employees as Government Shutdown Halts Treasury Operations

The IRS said in an emergency message to staff that it will furlough more than 34,000 employees starting on Oct. 8 due to the government shutdown.

Trump Says He May Invoke Insurrection Act in Portland If Necessary

President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.

Trump: All Medium, Heavy Duty Trucks Entering US Will See 25 Percent Tariff on Nov. 1

President Trump announced on Monday that all medium and heavy-duty trucks entering the United States will see a 25 percent tariff starting on Nov. 1.

Treasury Names Social Security Commissioner as CEO of IRS

Treasury Sec. Scott Bessent announced that Frank Bisignano, the head of the Social Security Administration (SSA), will also serve as CEO of the IRS.

Agencies Terminated, Descoped 94 Wasteful Contracts With $8.5 Billion Ceiling Value, Says DOGE

Various federal government agencies have terminated and descoped 94 wasteful contracts over the past five days, DOGE said in an Oct. 4 post on X.
spot_img

Related Articles

Popular Categories

MAGA Business Central