On Tuesday, Joe Biden defended his doomed “American Rescue Plan” for the zillionth time, claiming that the (at least) $1.9 trillion spending binge allowed local governments to continue paying their staff (which does zero to help productivity). He also boasted of spending trillions more on government-subsidized health care, manufacturing, infrastructure, and so-called “green energy.”
Biden’s remark was not simply illogical; it also contradicted Economics 101: Injecting trillions of dollars into a suffering economy to pursue a very limited supply of goods and services often results in an increase in inflation, not a decrease, as Team Biden falsely claims.
Furthermore, Biden’s ongoing approach of “fighting inflation” by shifting billions of dollars of wealth from those who earned it to those who didn’t overlooks the main causes of inflation: correcting monetary and fiscal policies, not boosting government (taxpayer) spending.
Nonetheless, ignorant Joe boasted:
“The American Rescue Plan was approved. Everyone knows that now, but because we accomplished so much, no one knows what the effects will be. It’s just getting started. So many things you’ll discover that we’ve previously done but haven’t been able to put into action yet.”
Joe, are you serious? Choose one.
Biden, being Biden, kept piling it higher and deeper:
“What’s most gratifying is that people are beginning to feel hopeful about the impact of these legislative accomplishments in their personal lives. It will pick up speed in the coming months. We will serve as the supply chain. The difference is that we will open up the supply chain to the rest of the globe. We’re not going to be held captive any longer.”
Leaving aside the falsehoods, what the heck does that even mean? “We’ll be the supply chain, making it available to the rest of the globe.” Who comes up with this? Handlers who can simply push it in front of Biden and let him make a spectacle of himself instead of them.
While lying, Biden even bragged that inflation was “beginning to decline.”
“That’s fantastic news for the holiday season,” he said, adding that inflation will “take time to return to normal levels and that we might see setbacks along the road.”
Biden also attempted to connect with the employees he was meeting with in Michigan, connecting them to those he grew up with in Delaware.
“For a long time, you felt isolated. You were left behind by the economy and the fast changing industry. I see what you’re saying. My family is aware of it. Please pay attention. This time, we’re not going to leave anyone behind.”
“This time,” you say? When was the first time this occurred under Biden’s watch?
Biden’s speech was standard Democrat boilerplate bilge, empty of specifics and aimed to buy time with low-information Democrat voters—at least until Joe and company decide on what to do next. With Republicans poised to retake control of the House in January, Biden and Chuck Schumer’s Senate majority will be rendered ineffective for the next two years.