Posted BY: Steve Feinstein
Despite the Biden administration’s intentionally misleading, disingenuous blathering about this 50-year-high inflation being transitory, any 19-year-old freshman Econ 101 student could see that it wasn’t. Janet Yellin knew she was lying when she said it. “President” Biden read what his handlers wrote and said that this awful inflation would abate.
It’s been one lie after another from the Democrats in D.C., compounded with economic policies that could only make matters as bad as possible. When President Trump left office in January 2021, the national average for gasoline was around $2.30/gallon. Biden immediately signed a series of anti-energy executive orders restricting fracking, oil exploration, and fossil-fuel production. He did this for two reasons: 1) To counter and negate anything that President Trump had done, simply out of infantile spite; 2) To curry approval and favorable publicity with the Green New Deal faction and their supporters.
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Predictably, retail gasoline pricing spiked. It was soon in the mid-$3.00 range, more than a dollar over where it was under President Trump. This was well before Russia invaded Ukraine. This was not “Putin’s price increase.” This was all Biden. As fuel went up, transportation/delivery costs increased and pricing for all goods started to go up. This was an absolutely unnecessary tax on the American public, diluting consumers’ buying power and sapping their confidence.