Biden’s profligate spending is destroying the US economy. The cumulative effect of persistent inflation is devastating. Since President Biden took office in 2021 the CPI is up by 19%. For basic necessities, the situation is even worse. Groceries are up 21%. Gasoline prices are up 47%. The cost of shelter 20%, and electricity almost 30%.

American workers simply can’t keep up. Since President Biden took office, average income after inflation has fallen over 2.5%. A typical American family must pay $12,000 more per year simply to maintain the standard of living that it enjoyed when President Biden took office, yet their income hasn’t risen by that much.

Biden likes to say that this is being caused by the greed of corporations who are seeking profits and using inflation as an excuse. “Price gouging” has been the mantra of a left that is desperate to prove that their economic ideas aren’t complete rubbish.

“If you take a look at what people have, they have the money to spend. It angers them and angers me that you have to spend more,” Biden told CNN’s Erin Burnett, pointing to the shrinking size of Snickers bars and other food products. “It’s like 20% less for the same price. That’s corporate greed. That’s corporate greed. And we have got to deal with it. And that’s what I’m working on.”

In February, Biden said there are “still too many corporations in America ripping people off. Price gouging, junk fees, greedflation, shrinkflation.”

“America – we’re tired of being played for suckers!” Biden said.

Because it simply can’t be socialism’s fault when socialism fails, the rest of the administration echoes the talking point:

“These markups should have reversed as we recovered from the pandemic—the fact that they haven’t means prices can come down if corporate profits come back to earth,” Edwards said. “President Biden has repeatedly called on large corporations to pass their record profits along to their customers by lowering prices. And he is taking on corporate rip-offs like hidden junk fees that costs families billions of dollars a year. The President will continue to call out corporate rip-offs and fight to keep money in Americans’ pockets.”

Which is complete bullshit. Prices didn’t increase during the pandemic and its aftermath because of the pandemic itself, but because of the trillions of dollars that were conjured into existence as if by magic. Those dollars are still in the economy, more dollars being circulated in the chase for even fewer goods. What’s worse is that the success of Biden’s political future depends upon tossing money from helicopters onto his voting base. That’s why he continues to rain student loan forgiveness in opposition to SCOTUS’ decision that doing so is unconstitutional. It’s why he continues to send thousands in gift cards and free rent to illegals.

Tax and spend. It’s all socialists have, and it will continue to make things worse.

If you think it’s bad now, wait until after the election.

Categories: economics


Beans · May 23, 2024 at 11:26 am

Inflation on food is actually around 45% overall since Biden was elected. And prices keep climbing.

The government won’t report actual inflation numbers because the Social Security Cost-of-Living adjustment is tied directly into the ‘official’ inflation numbers.

oldvet50 · May 23, 2024 at 2:31 pm

It’s a shame that most people don’t know that that is what corporations are SUPPOSED to do – charge the most for a product that they possibly can. What prevents them from gouging the consumer is competition – there is always someone that will take a little less profit and make up for it in volume. Our politicians are counting on the sheep to be ignorant and blame the mean ol’ capitalists on their problems. Just like the taxes they charge the corporation which is passed right on through to the consumer – it can be no other way. A business cannot pay taxes without getting the from the consumer. Remember – YOU pay the sales tax even though you aren’t selling – you’re buying.

Stealth Spaniel · May 23, 2024 at 3:47 pm

Everyone thought that no one-I mean NO ONE-could be worse than Jimmy Carter as President. If only…….All I can see is a National Jubilee Day of forgiveness because nobody can pay off their credit cards.

Gryphon · May 23, 2024 at 6:54 pm

We are in the ‘Wiemar Period’ of the zio-communist Infestation. Unfortunately, Donald Drumpf isn’t the Decorated War Veteran that we need to Lead the Restoration of the Republic, and the Destruction of the (((banks))).

    oldvet50 · May 24, 2024 at 2:05 pm

    Have you seen what the military has become? I would not want ANY of them in a position of power now. This isn’t the country of 50-75 years ago when that would have been a viable option. And if you hate Trump, by default you have to favor FJB – those were the only options then. So if you voted for FJB, you helped cause this mess.

Jester · May 23, 2024 at 10:32 pm

Those numbers are close but also don’t describe the reality of it all. I’ve managed forcefully to cut my groceries by about 50% and my prices are still double. Electric costs since roughtly the switch over have more than doubled yet I”ve cut my usage by in some months 75%. Natural Gas very, very similar. I’d guess that’s up even with a 2 year price contract locked in to be perhaps even more in reality if I did not have that option. I guess one advantage of being single again is that hey it’s just me. I can’t imagine a family living costs right now when you can trim down but not to the extents I have. My per person costs based where I was in 2020 to where I am now have gone up depending 35% to about 100 percent higher than they were then. So frankly the whole mantra of cut your energy usage to save the world and your pocket book is a farce.

wojtek · May 27, 2024 at 7:08 pm

I think that you may be missing a bigger point here. I think the dems are sending a message to large corporations to lower the prices before the election. In my opinion it is working. McD and BK already budged and will have $5 menus over summer, funded by their franchises (spelling?) and CocaCola. I think we should be looking to more of that in the next couple of months. It’ll be rolled back after the election.

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