Biden seems to be giving up on tackling high gasoline prices and inflation.
Treasury Secretary Janet Yellen has changed her tune from calling it “transitory” to saying that she expects it to persist for a while.
Janet Yellen, Biden Treasury Secretary: I expect inflation to stay high. However, it is my hope that it will fall.” pic.twitter.com/Jx8I9YE4Ul
— RNC Research (@RNCResearch) June 7, 2022
From the WSJ
“I do expect inflation to remain high, although I very much hope that it will be coming down now,” Ms. Yellen said, adding that the Biden administration was updating its forecast from March that inflation would average 4.7% this year. Consumer inflation has been above 8% in recent months. “The numbers aren’t locked in, but it’s likely to be higher” than the initial 4.7% forecast, she said.
“Hope” is not a strategy.
“How are you to be sure that government spending does not cause inflation?” The White House was warned of your warnings?
Treasury Secretary Janet Yellen doesn’t answer the questions, as her staff interferes. pic.twitter.com/v0ekZUaugX
— RNC Research (@RNCResearch) June 7, 2022
It isn’t looking very good.
“Several years of above-average inflation and below-average growth now seem likely,” David Malpass, president of World Bank Group, told reporters. “The risk from stagflation is considerable.”
Is there any hope for those high gas prices? It’s not so. Let’s listen to Biden’s Commerce Secretary Gina Raimondo.
Gina Raimondo (Biden Commerce Secretary) throws in the towel when it comes to gas prices. They reached new highs in all 50 STATES today.
The reality is, there’s not much to do. pic.twitter.com/d2XTXlcLAW
— RNC Research (@RNCResearch) June 7, 2022
Raimondo first deflected, using the Administration’s talking points that it was the fault of Vladimir Putin. Then she said Biden was asking Congress for ideas, but “the reality is that there isn’t very much more to be done.” They don’t actually want to do anything because it would interfere in that “incredible transition” Joe Biden was talking about to a fossil-free environment.
Sen. John Kennedy (R-LA) sums up the Biden Administration’s response, as only he can. It’s hard to beat Kennedy when it comes to the folksy quotable. “When I feel inadequate, I just look around. On really bad days, I see liars, and frauds, and meatheads in every direction.” Kennedy said this is what the Biden-Harris D.C. has given the American people.
Only he knows how to do this. @SenJohnKennedyExplains the Biden Administration’s poor week. He explains “the price for gas is so expensive that it would cost less to buy cocaine than run all over,” and other reasons why President Biden “is about as popular as a sinkhole right now.” pic.twitter.com/wQVdsIaqqc
— Spencer Brown (@itsSpencerBrown) June 8, 2022
He noted that Yellen had conceded inflation is not transitory, but still, Biden continues to push for more “economic chaos” by wanting to tax and spend more. Meanwhile, he said, “The price of gas is so high that it would be cheaper to buy cocaine and just run everywhere.” In the middle of all this “murk and mayhem” Kamala Harris says she has discovered the root causes of illegal immigration. American corporations should invest $3 billion to support Central American businesses, she says. There is nothing more powerful than “self-delusion,” Kennedy said of Kamala Harris’ opinion. Kennedy stated that the reason people come in is because she and Biden allow them to enter. “Enforce the law,” he demanded. “Do what we were doing the day before you took office.” “The American people understand that,” Kennedy observed. That’s why Biden “is about as popular right now as a sinkhole.” Perfectly put.
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