Home » World News » Biden and Democrats keep striking out on inflation – here are 4 ways to fix things fast
Biden and Democrats keep striking out on inflation – here are 4 ways to fix things fast
U.S. inflation among highest in developed world
Wall Street Journal Editorial board member Kim Strassel and Rightforge founding partner Christopher Bedford discuss the U.S.’s mounting inflation issue and the fed ordering largest rate hike in 28 years on ‘WSJ at Large.’
Like hapless baseball players in a big-time slump, President Biden and Democrats in Congress just keep striking out when it comes to lowering the historic levels of inflation they caused by massive spending and threats of tax increases.
Eighteen months of unified Democratic control in Washington have taught us that it’s easier to break an economy than to fix it – and this economic hardship isn’t on track to end anytime soon. Still, there are some commonsense steps we can take to bring some relief to the American people.
Democrats have taken their eye off the ball when it comes delivering economic relief and we are all paying the price. Gasoline prices have hit a record $5 a gallon and overall inflation has surged to its highest level in 40 years. Bidenflation has cut the pay of every American worker, causing real wages to drop nearly 4% since the current administration took office.
INFLATION HITS FRESH 40-YEAR HIGH IN MAY WITH CONSUMER PRICES SURGING 8.6%
Yet Democrats continue to double down on their same failed policies. They ignore studies from the San Francisco Federal Reserve, former top Obama-Biden economic advisers Jason Furman and Larry Summers and even the president’s own favorite economic forecaster, showing that Biden's agenda will make inflation worse.
How has Biden’s economy, inflation changed lives? Americans weigh in
Grocery shoppers in New York and Virginia shared how the economy under Joe Biden has impacted them after the president’s outburst during an AFL-CIO conference.
President Biden and Democrats in Congress continue to swing and miss when it comes to finding workable solutions, opting instead to attack bogeymen like big corporations, COVID or the war in Ukraine.
INFLATION TIMELINE: MAPPING THE BIDEN ADMIN'S RESPONSE TO RAPID PRICE GROWTH
Here are four steps we should take now.
First, we should soak up some of the excess money floating around in the economy and reduce the deficit. Inflation skyrocketed immediately following passage of the $1.9 trillion Democrat/Biden backed American Rescue Plan (ARP). With supply chains still struggling to come back online, and a labor shortage induced by President Biden paying people more to stay at home than to go to work, this so-called stimulus flooded the economy with too much money chasing too few goods.