The Post & Email by Jeff Crouere 10/17/2021
After nine months of the far-left policies of President Joe Biden, the American economy is on the ropes. He inherited an economy moving in the right direction after a year of the pandemic. Unfortunately, he has squandered this momentum by bowing to pressure from the socialist wing of the Democrat Party.
The President started his administration by issuing an executive order shutting down the Keystone XL pipeline. This decision, along with a moratorium on issuing new drilling leases in federal territory, contributed to the country becoming energy-dependent once again. With domestic oil production lagging, the Biden administration begged the Organization of Petroleum Exporting Countries (OPEC) to increase oil supplies. Predictably, OPEC refused this request.
These measures, coupled with massive spending bills designed to rapidly expand federal debt levels, have resulted in skyrocketing inflation, supply chain problems and weaker-than- expected labor market gains. Biden will exacerbate this crisis if he is successful in convincing Congress to pass legislation that will add $5 trillion in new federal spending on a host of progressive causes such as combating climate change.
Biden will fund this package by gargantuan tax increases and an army of new Internal Revenue Service agents who will investigate the checking accounts of millions of average Americans with transactions of $600 or more. The goal will be to increase tax revenue to the federal government to pay for the trillions of dollars in unneeded and wasteful spending.
In response to these ongoing troubles, former Obama administration Economic Council Chairman Jason Furman tweeted, “The economic problems we’re facing (inflation, supply chains, …) are high class problems.” This insane tweet was retweeted by the Biden administration’s Chief of Staff Ron Klain.
Despite the nonsense spouted by Furman and supported by Klain, it is obvious that inflation is the tax that hurts the working class the most. If you are in the “high class” earning millions of dollars per year, inflation is undoubtedly not a problem. These wealthy “high class” Americans can afford an increase in the price of groceries or gasoline, but the working class will have to struggle to pay these additional costs.
More:
https://www.thepostemail.com/2021/10/17/white-house-chief-of-staff-has-no-class/
