President Joe Biden finally came clean to the American people after months of telling us not to believe our lying eyes about inflation. Biden is on track to be a lame duck before his first year ends finally conceded he cannot fool us anymore.
“Everything from a gallon of gas to a loaf of bread costs more,” Biden said in Baltimore. “And it’s worrisome, even though wages are going up. Because of the strength of our economic recovery, American families have been able to buy more products,” he added.
“But what happens if there’s nothing to buy and you got more money?” Biden said. “You compete for getting it there. It creates a real problem.”
Not to burst Biden’s bubble but he is mismanaging the supply chain issue. In Los Angeles, for example, one of the key issues is a local ordinance limiting how high trailers can be stacked. Only two high. Which made the chassis’ that hold the trailers for truckers hard to come by literally stopping the port from moving.
Did Biden or MIA Pete Buttigieg do anything? No, a private citizen took to Twitter to explain the cause of the bottleneck and luckily a local official saw the Tweet and changed the rule.
Biden probably doesn’t even know some random on Twitter did more to help the supply chain than his entire administration he is so clueless.
In July Biden said: “Some folks have raised worries that this could be a sign of persistent inflation. But that’s not our view. Our experts believe and the data shows that most of the price increases we’ve seen are, were expected and expected to be temporary,” he continued.
Look, Biden and his team are incompetent, we all see that now. He needs to start firing people and bring in those who are up to the task or resign.
The stock market is soaring. Company and household bottom lines look strong. Yet corporate executives across the U.S. are obsessing over inflation — and some think the White House isn’t grasping the extent of the problem.
Spiking inflation — underscored by two government reports this week showing the biggest price surges in decades — presents a powerful threat to the economy as it struggles to shake off the pandemic, executives say.
“I don’t think the administration is on top of it at all,” said the CEO of one of the U.S.’s largest companies who spoke on condition of anonymity out of concern over angering the administration. “How many people inside this White House really know what inflation is or how it impacts businesses? It’s not really their fault. It’s been so long since we really had it.”
Many executives themselves are flying blind and growing increasingly worried that Washington politics — in which Democrats want to spend hundreds of billions more on President Joe Biden’s agenda and Fed Chair Jerome Powell wants to avoid denting the labor market while Biden weighs nominating him for a second term — will block any real steps to address inflation before it gets worse.
The executives would like to see less eye-popping spending proposals, stronger moves to boost supply chains and more pressure on Powell to speed up his efforts to choke off rising prices. But they are doing it all with limited real-world experience.
By all accounts, the threat posed by record inflation to the American people is not “transitory” and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.
— Senator Joe Manchin (@Sen_JoeManchin) November 10, 2021