Joe Biden’s recent request for sellers to lower their prices showcases a fundamental misunderstanding of basic economic principles. His plea, as reported by the New York Post, is a misguided attempt to address the soaring inflation that has been plaguing Americans under his administration.

Biden’s call for lower prices is akin to putting a band-aid on a bullet wound. It does nothing to address the underlying issues causing the price hikes. In fact, it only serves to deflect blame away from his administration’s role in creating this economic crisis.

“We know that prices are still too high for too many things — that times are still too tough for too many families,” Biden said. “We’ve made progress, but we have more work to do. Let me be clear to any corporation has not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt: It’s time to stop the price gouging and give the American consumer a break.”

BIDEN: "Wages for working families have gone up while inflation has come down 65%!"

Prices have gone up by 17.6% since Biden took office, while real wages have declined by 3%. pic.twitter.com/fFhHN1ZQ56

— RNC Research (@RNCResearch) November 27, 2023

Biden seems to be ignoring the fact that sellers don’t arbitrarily set prices. Prices are determined by supply and demand. When the cost of goods increases, sellers have no choice but to pass these costs onto consumers.

This begs the question: why are the costs of goods increasing? The answer lies in Biden’s reckless spending policies. His administration’s excessive stimulus packages, coupled with an aggressive push for minimum wage hikes, have created a perfect storm for inflation.

Inflation is essentially a hidden tax that disproportionately affects the middle class and the poor. As the cost of living increases, families are finding it harder to make ends meet. Yet, instead of acknowledging his administration’s role in exacerbating this issue, Biden is pointing fingers at sellers.

It’s worth noting that this isn’t the first time Biden has shown a lack of understanding of basic economics. Earlier this year, he claimed that increasing the minimum wage would not lead to job losses. However, numerous studies, including one from the Congressional Budget Office, have shown that this simply isn’t true.

Ultimately, Biden’s plea for lower prices is a desperate attempt to shift blame and appease a frustrated electorate. But Americans aren’t fooled. They know that the best way to combat inflation is through sound fiscal policy, not empty rhetoric.

Double digit inflation never goes away, it just gets baked into prices so that everything costs more forever. This is what Joe Biden’s economic policies did and why so many feel that the economy is awful, because he gave everyone a tax increase via his inflationary policies. pic.twitter.com/jgw6JcCcWh

— Clay Travis (@ClayTravis) November 28, 2023

Biden’s call for lower prices is a simplistic solution to a complex problem. It’s high time the President took responsibility for his administration’s economic failures. Only then can we begin to address the root causes of inflation and work towards a more prosperous future for all Americans.