I am appalled and disgusted with the virulent 7% inflation this nation is now experiencing, and the line of BS that the befuddled President Joe Biden is spinning about it.
As a trained economist, I have for a year been warning about the probability of this very development.
Biden betrays stupidity and economic ignorance when he seeks to “pin the tail on another donkey” and blame American business for the corrosive inflation that is eating away our standard of living. This is puerile political nonsense of the worst order.
The fault rests with Mr. Biden and the liberal extremists in congress. Since Roman times, inflation has always been caused by loose monetary policy and excessive government spending. And that is the case today. The Federal Reserve has been coerced into worrying about employment levels rather than inflation levels. And the federal government has poured vast amounts of unneeded funds into the economy.
For God’s sake, don’t pour gasoline onto this fire by passing goofy Biden’s “Build Back Deceptively” heap of legislative excrement.
The public knows who is especially responsible for today’s economic mismanagement. A recent Heartland Institute/Rasmussen poll was released with the headline, “'Voter’s Remorse'? Trump Would Win Rematch With Biden. "President Joe Biden would lose an election rematch to former President Donald Trump, who would win among independents and almost evenly split Hispanic voters," an article on rasmussenreports.com states.
Chris Talgo, senior editor at the Heartland Institute, provides a very incisive commentary:
“Less than one year into his presidency, 52 percent of likely voters have an unfavorable impression of President Joe Biden. This is astounding, given the fact that the mainstream has given Biden the benefit of the doubt so often and glossed over his administration’s utter failures concerning the pandemic, inflation, foreign policy, et cetera. On the other hand, 51 percent of likely voters now have a favorable opinion of former President Trump. In fact, more likely voters would vote for Trump over Biden if the next presidential election were held today. It seems like American voters are experiencing a classic case of voter’s remorse.”
I agree with Talgo. Joe Biden is the worst president in living memory. He is a disgrace to the nation. He is the “president of chaos” and the “prince of divisiveness.” And his economic approaches reflect calamitous blundering. It will take us years, and probably a major recession to recover from his extraordinary ineptitude.
Lou Knapp is a resident of Winchester.