Senator Ted Cruz (R-TX) issued a curt three-word rebuttal when news leaked that President Biden’s Tuesday speech would include an assault on the GOP, accusing them of having no strategy to battle inflation.
“Republicans love to cite inflation as a campaign issue, but does anyone have a notion what their strategy is to drive down prices?” claimed a White House official who requested not to be named, according to Reuters.
“Stop…spending…MONEY!!” Cruz said.
“Fewer than half of U.S. people – 44 percent approve of Biden’s handling of the president, and they consider the economy as the country’s most critical concern, according to a Reuters/Ipsos survey last week,” Reuters noted, noting that inflation has boosted consumer prices by more than 8%, per report.
On May 1, The Daily Wire reported on the nation’s inflationary spiral:
From March 2021 to March 2022, consumer inflation increased by 8.5 percent yearly, the highest rate in 41 years. Wholesale inflation increased at an even faster pace year over year in March, rising 11.5 percent annually and setting a new peak for producer inflation. The Federal Reserve’s preferred gauge of inflation, A Personal Consumption Index, climbed 6.6 percent yearly, another 40-year high.
“The American people believe the cause for inflation is the government wasting more money,” Biden asserted in March. “It’s just not true.”
“The present bout of inflation derives from tremendous expenditure,” the John Locke Foundation observed in January, “the government wasted a total of 27 percent of GDP on ‘Covid relief’ and stim.,’ the second-largest fiscal reaction as a proportion of GDP of any industrial country.” And the Federal Reserve’s freshly minted money was mostly used to fund this expenditure.”
They went on to say that “trillions in government expenditure culminated in a market bloated with cheap money.” “Inflation solutions are hardly quick nor clear because of the significant spending and myriad downstream repercussions of the pandemic’s reactions.”
Even a hardline lefty like Bill Maher has slammed the Biden presidency for its zealous drive to increase expenditure. “You know, when I think about Build Back Better, right, look, the country has to be rebuilt,” Maher said on Joe Rogan’s podcast in April. But I constantly think that when you offer me a phone number, it’s like you just yanked it out of the a**. The price tag will be $1.5 billion. We know it for — so it came in precisely on time, huh, to reconstruct this or something? Are we combing over it with a fine-tooth comb? But if we all just spend $1.2 billion, or a trillion if I’m being generous?”