When Joe Biden became president of the United States, most conservatives predicted he would be an ineffective leader that would guide our country into a slow decline. However, Joe Biden exceeded these expectations in the worst way possible, destroying the American economy with domestic policies resulting in an 8.5% inflation rate. The United States has not witnessed economic conditions like these in 41 years.
While an 8.5% inflation rate is shocking, what’s worse is that the goods Americans rely on daily have seen the highest price spikes. Gas prices are currently up 49% compared to a year ago, meat and poultry are up 14%, used cars are up 35%, and the list goes on.
Instead of taking accountability for the inflation, Democrats have turned to their usual boogeyman to blame: Russia. Joe Biden and his handlers now refer to the rise in inflation as the “Putin Price Hike.” Psaki used the latest slogan in a recent press conference:
“So, because of the actions we have taken to address the Putin Price Hike, we are in a better place than we were last month. But, we expect March CPI inflation to be extraordinarily elevated due to Putin’s Price Hike… We expect that to continue to reflect what we have seen over the course of this [Russian] invasion.”
The Democrat’s voting base, which is devoid of any critical reasoning capabilities, will probably fall in line with this new piece of propaganda. But, one should remember that the United States was experiencing a 40-year high inflation rate many months before Russia ever began its invasion of Ukraine.
Russia’s invasion of Ukraine has certainly had a partial impact on the current U.S. economy. Yet, the Democrat’s unbridled spending bills and restrictive COVID policies are the primary force behind American inflation.
At the start of Biden’s presidency, he signed off on multiple trillion-dollar spending bills bringing the U.S. national debt to well over $30 trillion. As a result of Biden’s American Rescue Plan and other trillion-dollar spending bills, the Federal Reserve had to flood the economy with new money. That’s why 20% of the money currently in circulation was printed in 2020 alone.
The last time the United States experienced an 8.5% inflation rate, Ronald Reagan had just entered office. However, Reagan quickly revitalized the economy by lifting various corporate restrictions and making the United States a stable world power. In 1980, while Jimmy Carter was still president, inflation sat at 12.4%. This inflation rate dropped to 8.9% within the first year of Reagan’s administration.
Reagan accomplished this impressive economic turnaround via four key policies: reduce government spending, slash taxes, reduce regulations, and tighten the monetary supply through higher interest rates.
Biden refuses to use any of these proven, common-sense tactics. Instead of increasing interest rates, Biden, once again, halted federal student loan payments through August 31st, 2022. His administration has also positioned itself directly against domestic energy production with stifling regulations and seeks to increase taxes.
Unfortunately, the inflation rate cannot be expected to decrease anytime soon. The radical left refuses to adopt effective economic strategies for a capitalist economy as they are fundamentally socialists who will always advocate for increased state control and taxation.
Americans will have to make their concerns heard in the midterm elections and the 2024 presidential election for any fundamental changes to occur.
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