Rejoice, Americans! Democrats say that their plan to whip inflation is working! What exactly this “plan” that they’re referring to remains a mystery, but here’s an economic fact. Inflation has fallen – no, actually, inflation has plummeted – by 0.1% since the November midterm elections. Great job, Democrats! The voters should really remember that talking point the next time a presidential election comes along.
At this point, the Biden regime is just taunting all of us with this talk of how well they’re managing the economy. According to the latest Consumer Price Index (CPI), year-to-year inflation now stands at 6.5%. Joe Biden and Kamala Harris are taking a victory lap over that.
Never mind the fact that every American family is now $7,400 poorer than they were when Donald Trump was in the White House. That’s more than $13 trillion in American household wealth that has simply vanished because of Biden-flation, not counting stock market losses.
Inflation is “coming down here,” says Joe Biden. “And gas prices, food, and more are following. That adds up to a break for families and proof my plan is working.”
Joe Biden’s plan is a disastrous failure, and everyone knows it. 6.5% year-to-year inflation, which never needed to happen in the first place, is not a victory. Gas and food prices may be slightly cheaper than they were in November, but everyone remembers what prices were like during the Trump economy.
Eggs were $1.51 a dozen and bacon cost $5 a pound on the day that Donald Trump left office. The national average for gasoline was $2.26 a gallon. After prices supposedly “snapped back” since last November, eggs are averaging around $7 a dozen, bacon is $10 a pound when you can find it, and gasoline is $4.99 a gallon all across the West Coast, according to AAA.
If that’s victory, what would defeat look like? TikTok and other social media channels now have videos of American mothers crying because they went to the grocery store, spent $100, and came home with some juice and laundry soap.
“Our economic plan is working,” bragged Kamala Harris. “For the sixth month in a row, inflation continues to go down.”
Sen. Elizabeth Warren (D-MA) says that “slowing inflation” is “providing families more breathing room.”
If this is what breathing room and falling prices feel like, what would be different if they were actively trying to strangle the economy?
The fact is that America has more recoverable oil and natural gas than any other country on earth. It can provide us all with cheap and abundant energy and a thriving middle class once again if Democrats were not members of the Green New Deal climate cult.
Gas prices began climbing the day after Joe Biden’s fake inauguration behind razor-wire and 20,000 armed troops. Biden signed a pile of executive orders that have done nothing but cripple American energy production, in favor of global warming “renewables” that are not actually renewable at all. Have you seen the mass burial grounds for windmills after they wear out from overuse? Or the mountainous piles of defunct solar panels that have been junked and which cannot be recycled once they reach the end of their usable lifespan? They don’t show those on the news.
The market was not calling for the Build Back Better policies to be forced upon it, because there was no need for windmills that don’t work when it’s cold and solar panels that don’t work when it’s cloudy. Not to mention the electric cars which require slave labor in the Congo to produce their batteries (which won’t hold a charge when it’s cold).
Increasing oil production would provide real relief from inflation starting tomorrow. But that’s one plan you won’t hear coming from the Biden-Harris White House. They’re too busy bragging about how inflation “fell” by 0.1% over a three-month period.