|Yes, inflation is real. Yes, rising gas prices hurt. But is it because of failures by President Joe Biden? Most emphatically – NO!
In the US, coming out of COVID, unemployment is down. It stood at 3.6 percent in recent reports. Wages have gone up. Absent global circumstances, the economy would be a roaring success. That’s why it’s important to counter the “big lies” Republicans are spreading that somehow things would be better if Democrats were not in charge.
Inflation is global. If you look at the G-20 nations, the United States rate was 8.3 percent. The Euro countries collectively stood at 8.1 percent and the United Kingdom at 9 percent.
Inflation is being driven globally by increased gas prices; grain shortages; supply chain issues lingering from COVID-19 and continued COVID-related lockdowns in China. Shortages of parts and manufactured goods drive prices up.
Rising gas prices are caused by COVID and Russia. During the height of COVID, refineries significantly cut prices because people were driving less. Now people have returned to the roads but production has not gone up accordingly. Because of Putin’s invasion of Ukraine, Euro countries are weaning themselves off Russian energy. This means they are dipping into OPEC and other supplies, driving the price per barrel of oil up globally.
No president, Republican or Democrat, can control inflation deeply rooted in global conditions.
A chilling fact: The Republican platform for mid-terms and 2024, proposed by Florida Sen. Rick Scott, calls for tax cuts for the wealthy and large tax increases not just for the middle class but the poorest wage earners in the United States. Republicans also calling for lessening the United States presence in the world. How can that help solve a global economic situation?
Talk back, with facts.