U.S. Economic Outlook Worsens Under Democrats
While the Biden Administration pushes forward with its radical spending plan, increasing consumer prices due to inflation and massive supply chain issues are threatening Americans’ upcoming holiday season. Meanwhile, White House officials have only deflected and excused the current economic issues as more Americans struggle.
-
White House Press Secretary Jen Psaki said the quiet part out loud last week, openly admitting during a press briefing that President Biden wants to use the turmoil created by the COVID-19 pandemic to radically reshape the U.S. economy:
“The president wants to make fundamental change in our economy, and he feels coming out of the pandemic is exactly the time to do that.”
-
As the Biden Administration continues to negotiate with Congressional Democrats to pass trillions of dollars in new spending, consumer prices have not stopped rising across the board. CNBC reports:
"The consumer price index for all items rose 0.4% for the month, compared with the 0.3% Dow Jones estimate. On a year-over-year basis, prices increased 5.4% versus the estimate for 5.3% and the highest since January 1991. "
-
More and more Americans are struggling to afford food, gasoline, and housing, but White House Chief of Staff Ron Klain thinks inflation is merely a ‘high class problem’. The top White House official retweeted this insensitive and false Twitter post from Harvard professor Jason Furman last week:
“Most of the economic problems we're facing (inflation, supply chains, etc.) are high class problems.”
With the Biden Administration both ignoring and downplaying the threat posed by inflation and supply problems in their push to “fundamentally change” the economy, the current economic issues will likely only get worse as the holiday season approaches.
|