President Biden keeps wanting to blame Putin, large corporations, supply chain issues, and the Wuhan virus for the rampant inflation we are experiencing, but no mention at all about the culpability of his administration and Washington DC.
As we know, the President is the leader of our country and has a bully pulpit to prove it. So, he should stop deflecting, identify facts and plot a course of action to address the problem.
Here are the facts he must own:
· A year ago, the President, Secretary of the Treasury, Federal Reserve Chairman, and the President’s Press Secretary all told us inflation is transitory and will not last.
· On Inauguration Day in January 2021, the inflation rate was 1.4 percent.
· In March 2021 the President signed a $1.9 Trillion virus relief program and the inflation rate rose to 2.6 percent.
· In July 2021, the President proposed a $3.9 Trillion budget plan, and inflation rose to 5.4 percent.
· In November 2021, the President signed a $1 Trillion infrastructure package and the inflation rate rose to 6.8 percent.
· In February and March 2022, the President delivers his State of the Union address, Russia invades Ukraine and the inflation rate rose to 7.9 percent.
· In April 2022, the inflation rate, like a runaway train, rose to 8.5 percent.
The picture is crystal clear. The biggest contributor to inflation is the out-of-control spending in Washington, DC, led by our President and the leaders in the Democrat-controlled Congress. We need to give them all mirrors to identify the source of the economy’s troubles.
By the way, I have not heard any outrage from the administration about $100 Billion being investigated for fraudulently being applied and received by several unscrupulous people. I hope the public will soon learn more details about the results of this investigation.
In the meantime, buckle your chinstraps as our rough ride to the gas station, grocery store and other consumer needs continue.
Own up, Mr. President, and get to work immediately to address the inflation crisis. The American people are not pleased and will not stand for the current situation.
Gerry O’Donnell
Wilkes-Barre