One would think that inflation being at a 40 year high would give the Biden Administration a major hint that they should reassess their MONEY generating and over SPENDING socialist agenda driven policies. Yet in the face of potentially crippling inflation they are proposing another pandemic bail out SPENDING more MONEY on pet projects via smoke and mirror infrastructure legislation coupled with regulatory gimmicks. Their inflationary stupidity started with the combination of the constriction of American oil and gas production and transportation as their first official administrative action and the excess unnecessary MONEY being pumped into the economy in 2021 in the guise of pandemic emergency when the economy was opening and thriving. For some reason (per chance their socialist agenda) they refuse to recognize that MONEY and SPENDING matter and that the increased cost of energy permeates all products and services. Biden has recently announced he is fighting inflation even though everything he has done and proposes to do are the primary drivers of the inflation.
Remember the old adage “DON’T FIGHT THE FED?” The Fed has been woefully slow reacting to the threat of inflation. Given the emergency nature of the inflationary threat now, they will be tightening the MONEY supply more aggressively than would have been necessary if the Biden Administration had not constricted the oil and gas industry while pumping MONEY into the economy in 2021. Reckless is the least possible negative description of of the Biden Administration’s proposed 2022 budgetary spending which rides in direct opposition to the upcoming actions of the Fed. The Fed is moving to reduce MONEY in the economy and raise the Federal Funds rate to dampen inflationary pressure while Biden’s budgetary proposals will do the exact opposite. The final question on this topic needs to be whether the Biden Administration is being driven by its own level of incompetence, or are other more environmental (socialist) issues playing a role? Even a socialist with half a brain is not likely to blatantly endanger a thriving economy that he or she is trying to take over and accept getting hammered in the next election.