"Bidenflation"

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A top White House official said there was an “energy crisis” in the U.S. and urged foreign fossil-fuel producers to ramp up production to quell it.

“We see this as an energy crisis because this is not just natural gas prices that have been elevated, but crude oil is at very high levels at the moment, and gasoline prices in the United States today are at seven-year highs as natural gas peaks at the same time,” White House energy adviser Amos Hochstein remarked during a virtual event hosted by the International Energy Forum on Thursday. “So I think this is an energy crisis.”
 
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Biden acknowledged public frustration.

“People are feeling it, they are feeling it,” Biden said. “Did you ever think you’d be paying this much for a gallon of gas? In some parts of California they’re paying $4.50 a gallon. That’s why it’s so important we do everything in our power to stabilize the supply chain.”

https://nypost.com/2021/11/10/biden-says-covid-stimulus-checks-fueled-spike-in-inflation/
 
dukkha said:
Biden's apologists try to downplay inflation worries by noting that they're largely confined to specific goods such as used cars. But the latest report shows inflation spreading to every sector of the economy, particularly where inflation can harm people of low income. Gasoline, for example, is up 42% from last year. Bacon, beef, pork, and eggs are all up by double digits. Children’s shows are up 12%; electricity 5%; rents 2.9%.

Inflation is outpacing hourly wage gains, which have risen 4.6% compared to inflation of 5.4%, which means real paychecks are falling, not rising, under Biden.

Maybe this is why voters tell pollsters they don't support making Biden’s cash giveaways to parents permanent. Voters are smarter than Democrats think. They know that despite what Democrats say, free money is not really free.

Even the Biden administration is forced occasionally to admit this. On a conference call with reporters about the nation’s supply chain crisis, Biden officials acknowledged that March's $1.9 trillion spending bill drove up prices and made matters worse.

But despite this admission, congressional Democrats are determined to pour $3.5 trillion worth of fiscal gasoline onto the inflation fire. The Biden administration even claimed in a report earlier this year that the best way to fight inflation was for the federal government to spend more money!

The White House Council of Economic Advisers report, titled “The Cost of Living in America: Helping Families Move Ahead,” claimed that the cost of living would fall because Washington would be doling out daycare subsidies. The thinking is that families would be better off despite inflation in other economic sectors.

This is innumerate. Inflation rises when more money chases fewer goods. With a supply chain crisis and COVID-related business restrictions, a sudden cash giveaway might be calculated to accelerate inflation.

Biden is making the same mistake about the $1.9 trillion. The supply of daycare cannot appear magically overnight to meet all the demand Biden’s spending will create. The daycare sector is highly regulated, and Biden is added yet more regulatory hurdles, so it will become harder to expand supply. By making more parents seek limited daycare slots, Biden’s subsidies will push their price up faster than inflation in the wider economy.

Instead of spending trillions more on highly regulated industries such as daycare, healthcare, and education, Biden would serve families better by removing regulatory barriers that make it so hard to increase capacity in these sectors.
https://www.washingtonexaminer.com/...-pour-fiscal-accelerant-on-the-inflation-fire
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Jarod said:
I do not give a shit about "worries" I care about what has and will happen.

There is inflation, and its been in check for decades, but when you come out of a pandemic and have supply issue, prices will go up.

The pandemic did not have to be so bad in the Untied States, but it was and we have do deal with it. What policies of Biden's do you believe caused the inflation? Did you blame Bush for 9-11?
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maybe creating the supply chain issues in the first place.
 
It's funny, for a people who champion limited government, Republicans sure think an awful lot of the economy is driven solely by the President. ( Irony)
 
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