Inflation only goes up and will bankrupt Joe Biden and the DemocratsBy James Bovard
January 23, 2022
In his victory lap at his marathon press conference last week, President Joe Biden boasted that “I have probably outperformed what anybody thought would happen” and “I have gotten the critical crises out of the way.” He shrugged off concerns about inflation, which he has blamed on greedy corporations and supply-chain snafus. But inflation will be the wrecking ball that could politically destroy Biden and his Democratic allies in the coming months.
Inflation has risen more than fourfold since Biden took office, jumping from 1.4% to 7%. Cynics are quipping that it’s now higher than Biden’s approval rating, but that is a cheap shot — or at least premature.
Last month, Biden characterized inflation as a “bump in the road.” But that “bump” is a hole in the gas tank for tens of millions of Americans who drive to work. Oil prices closed at their highest level in seven years the day Biden spoke.
Biden said in July, “There’s nobody suggesting there’s unchecked inflation on the way,” but there were plenty of dire warnings from experts early last year. The president claims that inflation is a problem everywhere, but National Public Radio reported that “between 2019 and 2021, the U.S. saw one of the biggest inflation rate increases in the world, behind only Brazil and Turkey.”
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Source:
https://nypost.com/2022/01/23/inflation-will-bankrupt-joe-biden-and-the-democrats/
