The image of Nero fiddling while Rome burns couldn’t be more appropriate than it is with the Biden administration. In less than four months he’s managed to:
- Open the southern border to endless illegal immigration
- Support runaway spending
- Destroy Middle East peace
- Reinstate financial aid to Palestine
- Make the United States no longer energy independent
- Support continued school closures
- Allow a major gas pipeline to be hacked, causing shortages and price spikes
- Promise to substantially raise taxes
On that last issue, Biden promised that no person earning less than $200,000 per year would pay a dollar more in taxes. He’s already broken that promise.
The hidden tax of inflation is already at play, which is affecting lower income households far more than the wealthy. Much of the inflation is caused by massive spending programs, financed in large part by printing money.
And when Biden was asked Wednesday how he might overcome Republican opposition to his latest $4.1 trillion spending spree — $2.3 trillion on green energy and $1.8 trillion on the American families plans — he turned it into a joke.
"Snap my fingers, it will happen," Biden responded.
If his finger-snapping works, that will mean more debt paid by more money-printing, further reducing the value of the dollar and increasing the price of goods and services.
Bloomberg Markets reported Wednesday that “The consumer price index increased 0.8% from the prior month,” adding that it was the greatest single-month jump since 2009, and more than twice what economists had predicted.
“The annual CPI figure surged to 4.2%,” it reported, meaning that April’s price spike contributed about one-fifth of the 12-month increase. And with the huge rise in gas prices this month, you can expect May’s report to be even worse.
This report came right on the heels of last week’s disastrous jobs report.
Inflation affects the cost of such consumer items as food, gas and diesel, clothing, and even lumber, prompting at least one person to quip that she was considering selling her house for parts.
And energy costs affect he price of everything.
As soon as the news hit the stands and the airwaves, the White House rapid response team — also known as the mainstream media — went to work to soften the blow.
New York Times economist Paul Krugman dismissed it as a minor inconvenience.
“So, the inflation report wasn't a nothingburger, but it was sort of a White Castle slider — not a very big deal,” he tweeted.
It’s “not a very big deal” unless you’re working reduced hours because of the pandemic, or a single mother already struggling to make ends meet, or a retiree living on a fixed income watching your life savings lose value due to the dollar’s deflated buying power.
Reuters even suggested that inflation may be a good thing, because it indicates a booming economy.
“U.S. April consumer prices jumped 0.8%, a larger than expected increase, amid booming demand from a reopening economy,” it reported.
In reply, National Review senior writer David Harsanyi suggested with tongue planted firmly in cheek, “Maybe another 6 trillion in spending is the way to fix this?”
The Washington Post thought it was all in how you looked at it.
It reported that the Consumer Price Index “shows gasoline prices up 49.6 percent from a year earlier.” The Post added that “Without the volatile food and energy categories, inflation was up just 3.0 percent.”
So you see, if you just stop eating and using your vehicle to go to work, everything will be fine.
Using the same logic, if you throw out the looting, violence and property damage committed by BLM and Antifa, most riots are caused by right-wing extremists. Attorney General Merrick Garland must have used the same logic when he testified Wednesday that white supremacists are America’s greatest domestic security threat.
Finally, Bloomberg’s Saleha Mohsin admitted that although “Prices rose more than expected last month,” the real story was how Republicans used that news to make the president look bad.
“Biden’s GOP opponents have seized on rising prices, the slower-than-expected pace of hiring to compare his administration w/ the ‘stagflation’ era of Jimmy Carter,” she wrote.
This and other comparisons of Biden to Carter prompted former President Trump to release a statement that such comparisons are unfair — to Carter.
“I see that everybody is comparing Joe Biden to Jimmy Carter,” Trump said. “It would seem to me that is very unfair to Jimmy Carter. Jimmy mishandled crisis after crisis, but Biden has CREATED crisis after crisis.”
And it also demonstrates why we need fewer lawyers and career politicians in Washington, and more business leaders and free market economists.
Michael Dorstewitz is a retired lawyer and has been a frequent contributor to BizPac Review and Liberty Unyielding. He is also a former U.S. Merchant Marine officer and an enthusiastic Second Amendment supporter, who can often be found honing his skills at the range. Read Dorstewitz's Reports — More Here.
© 2021 Newsmax. All rights reserved.