In the same visit he proposed $1 billion in funding for a “greening” clean up of the Great Lakes. Now, it’s hard to be opposed to cleaning up the Great Lakes, but timing-wise one might question the need to do so while inflation is running unchecked. Even a potato should know that pumping billions of Federal dollars into an overheated economy is not the best way to get inflation in check.
But Biden doesn’t now and never has known diddly-squat about economics, despite graduating “at the top of his class.” Nor has he had to as he has always been good at regurgitating whatever crap his staff hands him. His modest starting mental acuity and agility however continues to slip as whatever form of dementia he’s suffering from continues to take its toll. He spouts increasingly nonsensical gibberish that nobody – neither his staff, nor his media apologists – can defend. Although I note with amusement as well as despair how his beleaguered loyalists attempt to defend his insanity in the comment sections of lefty news outlets and blogs. The most popular “defense” is to blame Trump for all the troubles in Biden’s world. Clever.
Anyway, Biden has taken to blaming “supply chain problems” for the current out-of-control inflation. As he explained to NBC’s Lester Holt last week:
“The reason for the inflation is the supply chains were cut off, meaning that the products, for example, automobiles — the lack of computer chips to be able to build those automobiles so they could function; they need those computer chips. They were not available.”
Steven Rattner - former counselor to the Treasury secretary under Obama – takes exception, writing in an op-ed for the new York Times that the President mischaracterized the cause of the extreme inflation in the U.S., saying it was “simplistic and misleading,” nor unlike the Potato himself.
"For starters, the supply chains have not been ‘cut off,’ just stretched. And supply issues are by no means the root cause of our inflation. Blaming inflation on supply lines is like complaining about your sweater keeping you too warm after you’ve added several logs to the fireplace,"
According to the former Treasury staffer, the current supply issues are a result of an overstimulated economy.
Although Rattner acknowledged the pandemic has indeed stretched supply chains, he said the primary inflation source is rapid consumer demand, fueled in large part by unprecedented levels of government spending, including three stimulus payments.
On top of that, the pandemic has shifted what Americans are purchasing; as they continue to grapple with the virus, many Americans have shifted their spending to goods like cars, electronics and building materials for homes, rather than travel or entertainment. The Labor Department reported that spending on durable goods surged 25% in 2021, compared with 2020.
"It’s a classic economic case of ‘too much money chasing too few goods,’ resulting in both higher prices and, given the extreme surge in demand, shortages," he said. – Fox Business
“Overstimulated” as only a demented Democrat could do. So this report seems anything but surprising:
Democrats are joining with Republicans worried about President Joe Biden’s mental capacity in calling for a brain test of the chief executive.
The latest Rasmussen Reports survey on the issue said that 43% of Democrats want Biden to take a cognitive test similar to the one former President Donald Trump took and passed in office. Some 47% of Democrats do not feel it’s necessary. – Washington Examiner
I think the 47% who don’t thing it’s necessary should be required to take a cognitive test also.
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