As inflation continues to be a thorn in Americans’ sides, the political left has latched onto the narrative that price gouging is the underlying culprit.
Multiple Democrats are therefore pushing for policies and legislation that will crack down on big companies that are supposedly gouging prices to make an extra buck.
In actuality, the cause of inflation stems from the American Rescue Plan that passed last year, along with other forms of spending. There are no free lunches in life, despite left-wingers routinely calling for various services and products to be available at no cost.
Oil companies have been accused of price gouging by Democrats. Now, the White House is levying similar claims and subsequent action against America’s meat suppliers.
A Very Bad Move For the Economy
With the blessing of the president, the US Agriculture Department has put in place measures to control how meat suppliers make payments, work with farmers, and otherwise do business.
The department says this will make prices “fairer” across the board. However, this doesn’t check out.
Meat suppliers have blasted the Biden administration for furthering this narrative of price gouging when it’s not rooted in reality.
According to the American Meat Institute, the White House is using meat suppliers as a scapegoat for its own policies that ultimately caused inflation.
Additional meat suppliers argue that both the Biden administration and the Federal Reserve have a hand in where the economy stands today. The Federal Reserve, according to meat companies, should have increased interest rates sooner, before inflation spiraled out of control.
This is far from the first time the White House has gone after meat suppliers, though. Back in January, the Biden administration was accusing these companies of unfairly increasing their prices.
However, between inflation and problems with the supply chain, overhead and acquisition costs have risen across the board, including for large companies.
The Blame Game
As the White House goes after oil companies, meat suppliers, and other large businesses, it continues to reject the role that federal spending has played in all this.
Many Americans who are feeling the sting of inflation aren’t too happy about this. When Biden was running for office, he said he’d be a president who took responsibility for his actions and didn’t pass the buck to others.
Unfortunately, this is not something the White House has been able to do thus far. It’s leaving everyone in a bind, from large suppliers to everyday consumers.