American Consumers Continue to Suffer Under Biden’s Weak Economic Policies

Just recently, the government reported that annual producer prices have increased by more than 8 percent compared to a year ago. Producer prices rise quickly and are inevitably passed onto consumers in higher consumer prices. National gas prices are up $1.31 per gallon since November, so don’t be surprised to see $5 per gallon.

For many millions of Americans, “transitory inflation” is more like runaway inflation. The good news is that worker pay is increasing at around 4 percent. Bad news: Consumer prices are increasing closer to 6 per cent, which means that paychecks are shrinking in purchasing-power terms.

Add to that the man-made energy crises and you have a witches’ brew of problems that haunt the Biden administration. America produces 2 million less barrels of oil per day than it did when Donald Trump was president. At $83 per barrel, that means we are losing approximately $165 million daily in national output and $50 Billion annually. This has only allowed OPEC and Saudi oil sheiks leverage to increase prices — and we have no control over it.

In his recent NY Post article, Stephen Moore, a commentator on economic issues, questioned the administration’s inflation-driving policies.

“When is Joe Biden going to admit that the inflation problem with rising prices for everything from gas, to groceries, to new cars, to apartments and homes isn’t getting better, it’s getting worse?”

“The massive Biden spending bills — which add up to $6.5 trillion this year — are mostly financed by debt and money printing that are fueling the inflation contagion,”

The Biden administration has recently decided to cancel another pipeline in the Midwest, despite the energy crisis. The STL natural-gas pipeline could be shut down. One of the biggest utilities warns residents to “be prepared for potential natural gas disruptions — and outages — this winter if the pipeline is not kept in service.”

Although these problems can be attributed to the 2020 shutdown of the economy due to COVID, as well as the lingering fear of the virus, president Biden’s questionable policies make things worse. Biden’s obsession with climate change and ending the use of fossil fuels is threatening US energy security. China and India, two of the world’s largest polluters, are now using more oil and coal than ever.

“As usual, the Biden White House passes the buck and comes up with excuses rather than solutions to these problems that are making life miserable for the very working-class Americans that the president promised to help. No wonder a new USA Today poll finds that only 38 percent of Americans approve of the job Biden is doing,” Moore added.

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