The Patriot Post® · How Biden and Harris Inflation-Bombed Your Family Budget
All Americans are experiencing a devaluation of their income as a result of surging inflation. Those in low-skilled and entry-level jobs holders, whom Joe Biden and his socialist Democrat Party claim as their constituents, have been hardest hit.
Joe Biden and Kamala Harris did that.
Contributing to his inflation bomb was their deliberate constriction of oil supplies, which caused fuel prices to surge. There was also the total ineptitude of his AWOL Transportation Secretary Pete Buttigieg, meaning no resolution for supply chain clogs — also contributing to higher prices.
But the major inflation factor was the combined $5.1 trillion Biden/Harris in government spending allocated by their grossly-misnamed $1.9 trillion “American Rescue Plan,” $2.4 trillion “Build Back Better bumper sticker boondoggle, and the $800 billion ”Inflation Reduction Act.“ They filled a $300 billion economic hole created by the ChiCom Virus pandemic with $4.8 trillion in excess government spending. The direct result of that excess flood of money chasing too few goods and services, was inflation. Economics 101: Limited supply and/or excess demand results in higher prices.
Biden and Harris knew that Demos couldn’t succeed in passing his job-killing minimum wage boost, so their leftist cadres decided to circumvent Congress and manipulate the economy by ensuring unemployment paid more than employment.
After Republicans blocked Biden’s effort to double the minimum wage to $15, he had to find another way to force employers to raise wages in order to entice employees back to work.
Biden’s strategy to force higher wages was to collude with his Demo governors across the nation to extend government unemployment payouts in order to entice workers to stay unemployed — despite the fact that, at the same time, there were a record 9.3 million unfilled job openings.
The resulting inflation from Biden’s combined actions began to hit consumers by July 2021, and he demonstrated no interest in stopping that intentional surge.
Apparently, the Biden/Harris strategy to pay people not to work worked! Consequently, wage inflation and the resulting consumer inflation is now surging faster than at any time in the last 40 years.
It has been enormously difficult for small businesses, which often employ low-skilled workers, to survive the disastrous pandemic shutdowns, particularly in Demo-controlled states. And every major employer of hourly workers I have spoken with over the last year has universally agreed that Biden’s unemployment bucks are directly responsible for their unfilled jobs, as well as the resulting wholesale and retail inflation.
The inflationary consequence of Biden’s artificial wage-manipulation strategy has been to suppress economic recovery and simultaneously inflate prices for all Americans. Ironically, that inflation hits the budgets of low-income Americans hardest, because it is hourly employees who man the supply chain pipelines for food and other consumer products — which are the largest percentage of low-income household budgets.
Fortunately, Biden’s additional $3.5 trillion inflation ”solution,“ his so-called ”Build Back Better“ boondoggle, died in December. However, in his rambling non compos mentis year in review press conference, he indicated he is going to just chop up that hyper-inflationary behemoth into bitesize bits, laughably arguing that more government spending will defuse his inflation bomb.
Around our shop, that behemoth is known as "Build Back Bolshevik.” Forget about “Build Back Better” and put it back the way it was.
Oh, did I mention the national debt is also a ticking time bomb?
Semper Vigilans Fortis Paratus et Fidelis
Pro Deo et Libertate — 1776