America’s looming recession should concern everyone, as sustained inflation is poised to stay much higher and for much longer. The cost for goods and services has outpaced wage growth for over a year and a half, with no end in sight. The Biden Admin and America’s treasury secretary, Janet Yellen, called the inflation transitory, just a year ago; knowing full well that these components would thrust America into a full-on recession.
As of this moment, with 30.5 trillion in debt, Biden and congressional democrats have now persuaded Senators Manchin and Sinema to sign off on a redo of “Build Back Better” and added hundreds of billions more to the already insurmountable debt that’s been amassed; telling America that additional short-term debt would help with inflation.
Simply another absurd claim by this radical administration which seems intent on crashing America’s financial system, among other things.
This recession is 100% self-inflicted and policy driven. Joe Biden’s assault on America’s energy sector coupled with massive government spending has now set the stage for massive long-term inflation; and has halted anything resembling success in the American economy. Implementing components of the radical “Green new deal” a piece at a time and adding billions more to the national debt will only prolong the economic pain for American families. “The Inflation Reduction Act” or 739-billion-dollar spending scheme is a climate change bill disguised as an inflation countermeasure.
Even the White House admitted it will do nothing to address the nation’s massive inflation. This is simply another shameless money grab by democrats.
During the pandemic under Trump, inflation was sustained at 1.23% and the economy was stable. Presently, not a day has gone by without the experts predicting a long-term and painful recession. America was energy independent and gas prices averaged $2.48 per gallon. Since then, fuel prices have doubled, and in some cases tripled, home heating and air conditioning is up 40-70% across the board and increasing food prices are forcing Americans to choose between eating or putting gas in their cars.
People are becoming more and more indebted, and their rainy-day funds are drying up. 401ks are taking a dive and will continue to take major financial hits as the progressive left redistributes the wealth of an entire class of people. In the face of this recession, democrats in congress have passed another spending bill and are proposing a business tax increase at the worst possible time.
At the end of the day, scrounging for baby formula, paying seven dollars for as gallon of milk, or even six dollars for a gallon of gas does not affect the elected elites. They will continue to rob the next generation if you let them. #VoteThemOut
Thanks, and God bless, Vincent
