by Andy Puzder at The Daily Mail
Mr. Puzder is a former CEO of CKE Restaurants, chairman of 2ndVote Value Investments, Inc., and a senior fellow at the America First Policy Institute.
If one listened to President Joe Biden‘s speech on Thursday, they may come away with the idea that there are two villains behind the severe economic pain that Americans are experiencing.
According to Biden, it is the fault of Vladimir Putin and American oil companies that gas prices are at record highs.
‘I know how much it hurts…’ the president said. ‘[Some U.S. oil companies] don’t want to increase supply because Putin’s price hike means higher profits.’
His point is: Blame them. Not me.
He sounds like a broken record.
But put aside for a moment the president’s disturbing rhetorical lumping together of a murderous tyrant and US executives – the bottom line is that what the president said is terribly misleading.
Runaway inflation – much more than just gas prices alone – is depleting the savings of hard-working Americans.
And we can now say that Biden’s massive government spending – not war in Ukraine or greedy US corporations – is largely responsible for inflation.
A new San Francisco Federal Reserve study released this week contains a chart showing that U.S. inflation spiked in early 2021 at almost precisely the same moment that Biden signed his massive $1.9 trillion Covid ‘relief’ bill…
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