Biden is, once again, selling the American people a false bill of goods.
Biden is hoping that positive headlines over recent legislation will offset the problems he has and, if analysts are correct, will continue to cause in the future.
In reality, experts are finally coming around to the reality that this inflation and recession are not products of Russia’s invasion of Ukraine, but of Biden’s policies.
Down the Rabbit Hole
Senator Joe Manchin (D-W.V.) has decided to try to pull the wool over the eyes of the American people, just as we expected him to do.
While introducing his new legislation, he stated, “This is the action the American people have been waiting for.
“This addresses the problems of today – high health care costs and overall inflation – as well as investments in our energy security for the future.”
Only it does not.
Biden has also stated that getting inflation under control is his top priority, but it’s not.
The Wharton School of Business analyzed this new legislation, revealing that over the long-term, it will actually create a rise in prices, not decrease them, doing the exact opposite of what Biden and Manchin are promising.
E.J. Antoni, an economist and research fellow at The Heritage Foundation, stated, “It’s pretty telling when you look at what prices were doing year over year, and you compare that to what they’re doing now at a monthly rate.
“Prices are increasing as fast right now in a month, basically, as they did in a whole year.”
He continued, “So, what happened in the meantime? Well, a massive amount of government spending.
“You get the American Rescue Plan and after that inflation just explodes.
“It caused direct spending into the economy, it handed out more money that wasn’t needed and the result was you increase the amount of money without increasing the amount of goods and services.”
History has told us that injecting government money into the economy does not work.
Obama crashed the economy when he did it and now Biden is crashing the economy by doing the same thing.
It is a band-aid, that when ripped off, is like hitting a jugular.
The Federal Reserve Bank of San Francisco recently released a report that found that the stimulus boosted inflation by a full three percent.
Biden is pouring gasoline on a fire that is raging out of control.
The only people who do not see it are his allies in the mainstream media, who are literally allowing him to redefine recession and this administration.
Source: Fox News