{"id":1487066,"date":"2022-05-21T21:01:12","date_gmt":"2022-05-22T01:01:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1487066"},"modified":"2022-05-21T21:01:22","modified_gmt":"2022-05-22T01:01:22","slug":"biden-needs-to-take-the-blame-for-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-needs-to-take-the-blame-for-inflation\/","title":{"rendered":"Biden Needs To Take The Blame 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\">16<\/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-needs-to-take-the-blame-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=1487066&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--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/05\/17D4EFD7-CE21-4DB3-8AE3-56E66B043F81-scaled.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and \u201cultra-MAGA\u201d Republicans. The president said that his policies, and the nearly $7 trillion in spending he authorized, have nothing to do with inflation.<\/p>\n<p>None of this holds up under scrutiny. While President Biden claims that corporations are ripping off Americans, the costs of their supplies have been increasing at a <a href=\"https:\/\/www.cnbc.com\/2022\/04\/13\/producer-price-index-march-2022-.html\">record<\/a> rate. In reality, many companies that Biden claims are stiffing consumers have actually lost money because they don\u2019t want to alienate their customers by raising prices too quickly.<\/p>\n<p>Biden\u2019s blame of the war in Ukraine for inflation is similarly untethered from the facts. As one look at the chart of inflation in the United States shows, inflation was rapidly approaching its current level <a href=\"https:\/\/www.cnbc.com\/2022\/02\/10\/january-2022-cpi-inflation-rises-7point5percent-over-the-past-year-even-more-than-expected.html#:~:text=The%20consumer%20price%20index%20for%20January%2C%20which%20measures%20the%20costs,highest%20reading%20since%20February%201982.\">before<\/a> Putin\u2019s invasion began. Gas prices have also been rising steadily for the past year, undercutting Biden\u2019s claim that \u201cPutin\u2019s price hike\u201d is the reason Americans are paying more at the pump.<\/p>\n<p>But perhaps no claim is as tenuous as Biden blaming Republicans for inflation. Biden declared that the GOP has \u201cno plan\u201d to combat inflation and said that the Democratic party\u2019s economic policies have <a href=\"https:\/\/www.cnn.com\/2022\/05\/10\/politics\/biden-inflation-speech\/index.html\">helped<\/a> the situation, rather than making it worse.<\/p>\n<p>This cannot logically be true. Trillions of dollars in federal spending over the past two years, coupled with a manufactured shutdown of the economy and misguided monetary policy on the part of the Federal Reserve, created today\u2019s inflation crisis. And although both parties in Washington can be rightly criticized for green-lighting this spending, President Biden and the Democrats deserve the lion\u2019s share of the blame. After all, their proposed \u201cfix\u201d for inflation is to double down and spend even more money, one of the approaches that got us here in the first place.<\/p>\n<p>In March of 2021, Biden and his allies in Congress authorized a $2 trillion spending spree. While the left called this the \u201cAmerican Rescue Plan,\u201d it didn\u2019t rescue anything. The bill flooded the economy with wasteful federal spending, even as it became clear that inflationary pressures were beginning to heat up.<\/p>\n<p>Biden then signed a $1 trillion infrastructure bill into law in November that many experts <a href=\"https:\/\/www.wsj.com\/articles\/bipartisan-infrastructure-bill-inflation-stimulus-biden-automobile-regulations-american-rescue-plan-11628447581\">warned<\/a> would fuel inflation. It wouldn\u2019t have stopped there if President Biden and Democrats were able to pass their multi-trillion dollar \u201cBuild Back Better\u201d plan.<\/p>\n<p>It isn\u2019t just Republicans acknowledging that these policies created inflation. Even economists from Democratic presidential administrations, including Jason Furman and Larry Summers, are <a href=\"https:\/\/www.businessinsider.com\/former-obama-economist-biden-inflation-argument-corporate-greed-2022-1\">calling out<\/a> Biden for his lies about inflation.<\/p>\n<p>It\u2019s also ironic that while Biden criticizes Republicans for \u201cnot having a plan\u201d to bring down inflation, he and his party are championing an additional $40 billion in taxpayer money for Ukraine. Not long ago, Americans would have been shocked by that much spending. This is in addition to the recent White House <a href=\"https:\/\/www.dailywire.com\/news\/biden-says-fiscal-responsibility-is-one-of-the-values-of-his-enormous-5-8-trillion-budget-proposal\">proposal<\/a> of a $5.8 trillion federal budget for 2023, a number that would have been unthinkable just a few years ago.<\/p>\n<p>If President Biden were serious about combating inflation, he would be calling for immediate cuts in federal spending and a scaling back of government intervention in the economy. Instead, he wants to increase both \u2013 massively. Biden would rather blame corporate greed, Putin, and \u201cultra-MAGA\u201d Republicans than take any meaningful action to address inflation.<\/p>\n<p>Until President Biden and the Democrats can swallow their pride, get out of the way, and stop spending money we don\u2019t have, Americans will continue to suffer and feel the sting of inflation.<\/p>\n<p><i>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.<\/i><\/p>\n<p><i>Adam Brandon is the president of FreedomWorks and the author of \u201cA Republic, Not a Democracy: How to Restore Sanity in America.\u201d<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and \u201cultra-MAGA\u201d Republicans.<\/p>\n","protected":false},"author":131,"featured_media":1487084,"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-1487066","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\/1487066","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\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1487066"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1487066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1487084"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1487066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1487066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1487066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}