The further to the left or the right you move, the more your lens on life distorts.

Wednesday, May 11, 2022

"President Costanza"

The editors of the Wall Street Journal dissect the Democratic party's approach to rampant inflation and write:

President Biden on Tuesday tried to get ahead of Wednesday’s April inflation report with a speech rehashing his well-worn proposals to reduce prices: Boost subsidies, raise taxes, and increase regulation. He should take Jerry Seinfeld’s advice to George Costanza and do the opposite of his every policy instinct ... 

Mr. Biden again blamed inflation on the pandemic and Vladimir Putin, omitting that Democrats poured kerosene on the accelerating economic recovery last March with their $1.9 trillion spending bill. Inflation was already at 7.9% when Mr. Putin invaded Ukraine (see the nearby chart). At the same time, their policies are hampering the supply side of the economy in myriad and interconnecting ways.  

When Barack Obama warned a listener to [paraphrasing]  "Never underestimate Joe's Biden ability to f#%k things up," Biden as VP was suggesting hard policy decisions that would have created bad outcomes. Today, a cognitively-diabled Biden is likely making no hard decisions, but acquiescing to an anonymous committee of hard-left "Constanzas." Their big government, tax and spend approach, coupled with unnecessary and unscientific hysteria over COVID (along with trillions spent to "remedy" lockdowns, school closures, and other mandates) is largely responsible for our existing runaway inflation.

Biden and his spokespeople try to blame Putin and the pandemic and have the chutzpa to suggest that the GOP has no inflation reduction plan, making the precipitous rise in basic living expenses their fault.

Michael Goodwin writes:

The two straw men he trotted out were familiar — the pandemic and the Putin Price Hike. The latter coined phrase is as ridiculous as President Gerald Ford’s WIN gambit, for Whip Inflation Now, and will no doubt be just as effective economically and politically.

Asked by a reporter after his address whether he accepted any responsibility for the crisis, Biden said no, adding: “I think our policies help, not hurt.”

Saying so doesn’t make it true.

Nor was it credible for him to claim, again, that there is rampant price gouging by oil and lumber companies and beef distributors. 

The same Barack Obama who commented on Biden's ability "to f#%k things up" also said, "Elections have consequences."

Yes ... they do.