{"id":1449517,"date":"2022-04-22T07:01:49","date_gmt":"2022-04-22T11:01:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449517"},"modified":"2022-04-22T07:01:52","modified_gmt":"2022-04-22T11:01:52","slug":"biden-blames-everyone-but-himself-for-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-blames-everyone-but-himself-for-inflation\/","title":{"rendered":"Biden Blames Everyone But Himself for Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-blames-everyone-but-himself-for-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449517&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>With inflation <a href=\"https:\/\/fee.org\/articles\/inflation-tax-will-cost-families-this-many-thousands-this-year-bloomberg-analysis-warns\/\" rel=\"nofollow\">raging out of control<\/a> under his watch, President Biden is running out of excuses. First, his administration tried to claim inflation wasn&#8217;t really happening. Then they said it was &#8220;transitory.&#8221; When that didn&#8217;t work, Biden and his team switched to blaming Russian President <a href=\"https:\/\/www.newsweek.com\/topic\/vladimir-putin\" data-sys=\"1\" class=\"multivariate\">Vladimir Putin<\/a>.<\/p>\n<p>&#8220;Let&#8217;s be absolutely clear about why prices are high right now: COVID and Vladimir Putin,&#8221; President Biden <a href=\"https:\/\/twitter.com\/POTUS\/status\/1516752535364812810\" rel=\"nofollow\">tweeted<\/a> Wednesday morning. &#8220;Last month, about 70% of the increase in inflation was a consequence of Putin&#8217;s price hike because of the impact on gas and other energy prices.&#8221;<\/p>\n<figure class=\"fullCode\">\n<div class=\"innerBox\">\n<div class=\"code\">\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">I know that families are still struggling with higher prices. I grew up in a family where if the price of gas went up, we felt it.<\/p>\n<p>Let\u00e2\u0080\u0099s be absolutely clear about why prices are high right now: COVID and Vladimir Putin.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1516752535364812810?ref_src=twsrc%5Etfw\">April 20, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>This isn&#8217;t just untrue; it&#8217;s a disingenuous deflection.<\/p>\n<p>Yes, Putin&#8217;s horrific invasion of Ukraine has disrupted global energy markets and led to higher gas prices over the last few months. But gas prices were rising for nearly a year before the invasion began. And even when you factor out gas prices and food, inflation was still 6.5 percent year-over-year.<\/p>\n<figure class=\"fullCode\">\n<\/figure>\n<p>The truth is that the current surge in inflation corresponds not with the COVID-19 outbreak or Putin&#8217;s invasion but with Biden&#8217;s inauguration.<\/p>\n<p>This is not to say that all of our current inflation is Biden&#8217;s fault\u2014far from it. But the President cannot begin to address inflation until he acknowledges its actual root causes.<\/p>\n<p>First things first: The Federal Reserve, America&#8217;s central bank, has printed trillions of new dollars out of thin air since the pandemic began. This was supposed to help the economy, but the only thing it really &#8220;stimulated&#8221; was inflation, because when more dollars chase the same amount of goods, prices inevitably rise.<\/p>\n<p>While this is not in Biden&#8217;s direct control, President Biden has done nothing to urge the Federal Reserve to change courses. In fact, he just recently <a href=\"https:\/\/www.msn.com\/en-us\/news\/politics\/biden-renominates-powell-as-fed-chair-cites-steady-and-decisive-leadership\/ar-AAQZZzJ\" rel=\"nofollow\">re-nominated<\/a> Fed Chair Jerome Powell and praised his leadership\u2014despite Powell having overseen this very disastrous outcome. And Biden&#8217;s other Fed nominees have been weak on this issue as well, meaning that while he didn&#8217;t cause it, he hasn&#8217;t helped.<\/p>\n<p>Then there&#8217;s the unprecedented deficit spending. Here, too, the problem didn&#8217;t start on Biden&#8217;s watch; President Trump blew out the deficit and passed large spending bills in 2020 after the pandemic hit, including the first set of stimulus checks. But while that&#8217;s undoubtedly playing a role in today&#8217;s inflation, it was also at the very peak of the COVID-19 emergency and is more understandable than what came next.<\/p>\n<figure class=\"imageBox\">\n<div class=\"innerBox\"><source type=\"image\/webp\" media=\"(min-width: 992px)\" \/><source type=\"image\/jpeg\" media=\"(min-width: 992px)\" \/><source type=\"image\/webp\" media=\"(min-width: 768px)\" \/><source type=\"image\/jpeg\" media=\"(min-width: 768px)\" \/><source type=\"image\/webp\" media=\"(min-width: 481px)\" \/><source type=\"image\/jpeg\" media=\"(min-width: 481px)\" \/><source type=\"image\/webp\" media=\"(min-width: 0px)\" \/><source type=\"image\/jpeg\" media=\"(min-width: 0px)\" \/><source type=\"image\/webp\" \/><img loading=\"lazy\" decoding=\"async\" class=\"mapping-embed imgPhoto\" id=\"i2023399\" src=\"https:\/\/d.newsweek.com\/en\/full\/2023399\/president-biden.jpg?w=790&#038;f=46ac24ab9e16258f3cf6438e83492bc2\" alt=\"President Biden\" width=\"790\" height=\"512\" \/><\/div><figcaption class=\"caption\">\n<span class=\"cap\">A gas pump displays current fuel prices, along with a sticker of US President Joe Biden, at a gas station in Arlington, Virginia, on March 16, 2022. <\/span><br \/>\n<span class=\"credit\">SAUL LOEB\/AFP via Getty Images<\/span><br \/>\n<\/figcaption><\/figure>\n<p>President Biden came into office with our understanding of the pandemic much more complete, vaccines already available, and a recovering economy. He nonetheless decided to ram through an <a href=\"https:\/\/www.washingtonexaminer.com\/politics\/the-botched-american-rescue\" rel=\"nofollow\">utterly unnecessary $1.9 trillion spending bill<\/a>, only 9 percent of which was directly related to mitigating COVID-19&#8217;s health effects. Biden pushed this spending even as economists from his own party, people like Larry Summers, <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/02\/04\/larry-summers-biden-covid-stimulus\/\" rel=\"nofollow\">warned<\/a> this would cause an inflation surge.<\/p>\n<p>It was an unforced error that drove the deficit up to $2.8 trillion, its <a href=\"https:\/\/www.pbs.org\/newshour\/economy\/u-s-budget-deficit-hits-2-77-trillion-in-2021-second-highest-on-record\" rel=\"nofollow\">second-highest level ever<\/a> and second only to 2020, the very height of the emergency. Now, even liberal economists and pundits are acknowledging that the so-called American Rescue Plan was an <a href=\"https:\/\/www.based-politics.com\/2022\/04\/17\/former-obama-official-rightly-slams-biden-for-extraordinary-policy-mistake-on-inflation\/\" rel=\"nofollow\">&#8220;extraordinary policy mistake,&#8221;<\/a> as one ex-Obama official recently put it in a <em>New York Times<\/em> Op-Ed.<\/p>\n<figure class=\"block block-ibtg-article fA\" data-gtm-category=\"Related In-Text A\" data-gtm-action=\"Click\">\n<\/figure>\n<p>On top of all of this, Biden has contributed to high prices with burdensome government policies in other areas. From the many Trump-era tariffs Biden could have repealed by now that <a href=\"https:\/\/www.wsj.com\/articles\/cut-tariffs-to-help-inflation-and-ukraine-joe-biden-trade-policy-peterson-institute-study-11649888739?st=ioocnulvvew5v2w&#038;reflink=desktopwebshare_twitter\" rel=\"nofollow\">raise the cost of goods for consumers<\/a> to his <a href=\"https:\/\/www.heritage.org\/energy-economics\/commentary\/bidens-many-anti-energy-policies-are-hurting-producers-consumers-alike\" rel=\"nofollow\">anti-energy policies<\/a> restricting fuel production and more, the President has made things worse, not better.<\/p>\n<p>So while it&#8217;s true that inflation is a complex economic phenomenon not entirely within any one president&#8217;s control, Biden continues to deflect blame for inflation onto baseless scapegoats rather than take accountability for his own unforced policy errors.<\/p>\n<p>It&#8217;s a disgraceful dereliction of duty\u2014and the American people shouldn&#8217;t stand for it, not least because it means inflation won&#8217;t be mitigated.<\/p>\n<p><em>Brad Polumbo (<a href=\"https:\/\/twitter.com\/brad_polumbo\" rel=\"nofollow\">@Brad_Polumbo<\/a>) is Policy Correspondent at the Foundation for Economic Education and co-founder of <a href=\"http:\/\/based-politics.com\" rel=\"nofollow\">BASED-Politics.com<\/a>.<\/em><\/p>\n<p><em>The views in this article are the writer&#8217;s own.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With inflation raging out of control under his watch, President Biden is running out of excuses. First, his administration tried to claim inflation wasn&#8217;t really happening. Then they said it<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1449517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1449517"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1449517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1449517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1449517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}