Biden's Latest Brainstorm to Reduce Prices
JAZZ SHAW 10:01 PM on November 27, 2023
Biden's Latest Brainstorm to Reduce Prices
If you’re an American and you haven’t noticed your wallet being pinched by increasing prices for almost everything, you’re either doing very well for yourself or you’re blissfully unaware of your surroundings. Either way, congratulations. But for everyone else, the economic pain has been hitting home and that reality continues to be reflected in Joe Biden’s eroding approval ratings. The situation has apparently reached the point where his handlers have realized that jawing about “Bidenomics” isn’t working and Uncle Joe will be forced to leap into action. So what’s the plan? It’s the same one that he’s rolled out before when he feels stuck between a rock and a hard place. Biden will once again break the rules and invoke the Defense Production Act, this time to attempt to forcibly increase the domestic production levels of medicines to drive down prescription drug prices. Nobody seems to be moving to stop this obvious abuse of the DPA because it’s all being done under a declaration of a “national security threat” caused by prescription drug costs. (The Guardian)
The White House has announced it plans to use a cold-war era law to ease supply chain issues that the administrations argues are contributing to higher inflation – a key electoral challenge to Joe Biden’s re-election chances next year as polling consistently suggests voters are not buying his Bidenomics pitch.
In a statement, the White House said Biden will use the Defense Production Act to improve the domestic manufacturing of medicines deemed crucial for national security and will convene the first meeting of the president’s supply chain resilience council to announce other measures tied to the production and shipment of goods.
“We’re determined to keep working to bring down prices for American consumers and ensure the resilience of our supply chains for the future,” said Lael Brainard, director of the White House national economic council and a co-chair of the new supply chain council, in a separate statement.
https://hotair.com/jazz-shaw/2023/11/27/bidens-latest-brainstorm-to-reduce-prices-n595022
