Biden Regime ADMITS They Fueled Inflation
Democrats are notorious for blaming everyone for the problems we face in our country and never accepting any responsibility themselves.
Do our problems sometimes come from the Republicans? Yes, but not usually.
Joe Biden is no exception to this rule. In fact, he’s one of the biggest violators.
But Democrats should really know that they messed up when one of their own officials even blames Joe Biden. Biden’s own U.S. Treasury Secretary Janet Yellen admitted that Biden’s stupid “American Rescue Plan” totaling $1.9 trillion is what is feeding inflation.
WELL DUH! You can’t just keep magically printing money and expect no consequences. How many times do these morons have to go through this before they get it into their thick skulls?
Inflation is at a 40-year high. That means while these millennials may be making more money, it doesn’t matter because unless they’re outpacing inflation, they’re not really making more money.
Speaking in an interview with Matt Murray, editor-in-chief of The Wall Street Journal, the former head of the Federal Reserve said the White House’s enormous spending did play a role in the current inflationary environment, noting that it was “justified” because of the various economic risks.
“So, look, inflation is a matter of demand and supply, and the spending that was undertaken in the American Rescue Plan did feed demand,” Yellen said.
She said inflation, which is at a 40-year high, is an unintended consequence of the Biden administration attempting to avoid a sharp economic downturn and facilitate full employment.
Yellen, however, thinks it was justified,
“But I do think it was justified and appropriate at the time, given the risks the economy faced,” she said. “At the time that President Biden was inaugurated, we had an economy where forecasters were envisioning very high unemployment for a very long time. We had especially low-wage workers who had been laid off in massive numbers. We saw cars lined up for miles in food banks, Americans worried about not being able to feed their families, get enough to eat. Forecasts were really quite dire.”
Here’s the thing, as I’ve said many times before, the rich don’t understand and they can’t understand. If their money is worth 11% less, they won’t even notice it because they have millions and millions of dollars. It’s the majority of us Americans who don’t make a ton of money and aren’t millionaires that feel the painful effects of inflation.