The American economy is in deep trouble and what makes it worse is not so much the fact that China Joe Biden and his Marxist cronies don’t know how to fix it they just don’t want to, the economy is so far gone, and I will continue to say as many do that it was intentionally done.
The following was posted by Post Editorial Board, published by the New York Post: “Even President Joe Biden now admits, “We’re gonna live with this inflation for a while.” Yet he won’t acknowledge his own role, and fellow Democrats’, in fueling the crisis. Or that Dem ideology precludes them from taking key steps to tame the beast.”
“Economists all cite the same basic cause of higher prices: rising demand and shrinking supplies. Dems recklessly fueled demand by showering $1.9 trillion on an already hot economy via Biden’s American Rescue Plan. They added to that with a $1.2 billion infrastructure bill and pushed to spend another $5 trillion in Biden’s Build Back Better legislation. All on top of the extra $3 trillion spent in 2020 when COVID erupted.”
“Nor did they lift a finger to deal with supply-chain issues driving shortages — many caused by lockdowns they pushed and bonuses they gave to workers who refused to return to their jobs.”
“Nor will the prez and his party ease government-imposed burdens on businesses to help them boost supplies. They won’t make it easier to drill for more oil, even with gas topping $5 a gallon, or cut corporate taxes or red tape that ties businesses’ hands and adds to costs.”
“He pretends the economy is now strong thanks to him and that workers are getting better pay: “We’ve created 8.7 million new jobs in 16 months. An all-time record.”
“Again: He didn’t create jobs; they were there before COVID. And workers are getting less inflation-adjusted pay.”
“By denying reality and opposing steps to fix the mess he’s made, Biden is just digging America deeper into the hole. When did he ask Jimmy Carter to hold his beer?”
As long as Biden does not give the business community the incentives to hire and expand there will be no fixing of the economy under the Biden Marxist regime. Instead of cutting back regulations on business like President Donald Trump did, Biden creates more regulations, and more regulations is one of the biggest reasons businesses will hold back their capital by not putting it back into the economy and don’t forget any new regulation will also be applied to the small businessperson who control over 60% of the economy.
Today because of runaway inflation the Federal Reserve increased the interest rate to 0.75%. There is no telling how many more rate increases the Federal Reserve will put through until inflation becomes under control and in the meantime this will create more burden on the American people especially the people who want to buy a house and any home values that have been going up sharply the last year or so will not start to come down and all this because China Joe Biden and his Marxist cronies destroyed America’s former independent energy industry so as to implement the Green deal but come November 8, the radical, Marxist, Democratic Party will be very openly destroyed.