The plethora of economic crises facing America proves that Democrats have no relationship with even basic economics. If Democrats understood economics at even a basic level, there wouldn’t be historical inflation, a supply chain crisis, and a series of other catastrophes.
Comments furthermore demonstrate democrats’ lack of economic prowess their president has made about what’s necessary to stop inflation. According to Biden, the key to ending inflation is passing more of his bills that rack up trillions of dollars in spending.
The left doesn’t get it, and Biden certainly doesn’t get it. However, American Thinker points out some critical details in noting the vital economic lesson Democrats missed along the way.
Over the past year, there’s been a 6.2% surge in consumer prices. Meanwhile, inflation hits the energy sector, vehicle costs, rental prices, grocery stores, and more. Right now, the economy is in such a dire position that if inflation continues at its current pace, interest rates will climb.
Earlier this year, Biden’s $1.9 trillion American Rescue Plan was passed into law. Earlier this week, the president’s $1.2 trillion faux infrastructure bill also became law. Yet, all the nation has to show are higher prices and Americans losing their earnings to inflation.
The writing on the wall couldn’t be more obvious. To stop inflation and revive the country’s economy, the government needs to stop spending money. Contrary to what the Democrats believe, the nation can’t pay its way out of inflation.
Government spending needs to be reduced. Anti-worker mandates like COVID vaccine edicts that drive Americans away from their jobs need to be struck down and outlawed permanently.
Before Biden flooded the nation with his destructive spending bills, the economy was gradually and surely making a comeback. Unfortunately, the president considerably set back the country with his American Rescue Plan and so-called infrastructure legislation.
The United States’ current economic crisis was a preventable one. Everything that’s happening now with inflation, consumer prices, etc., are things Republicans and fiscal conservatives warned about months ago.
Yet, Biden and the Democrats in Congress did not heed these warnings. Their lack of foresight has now created a nightmare where Americans are quite literally paying the price of feckless leftists’ poor choices.
Ensuring a red wave during the 2022 midterm races is paramount to saving the economy and undoing current damage.