In the May 30 Wall Street Journal piece, Biden wrote that inflation was "exacerbated by Vladimir Putin's war in Ukraine," said Donald Trump demeaned the Fed, and urged Congress to pass clean energy tax credits and other investment proposals – all before calling for the end of the "outrageous unfairness in the tax code that allows a billionaire to pay lower rates than a teacher or a firefighter."
Elaine Parker of Job Creators Network says "it was a waste of print space" for WSJ to publish the op-ed. "He has no plan to fight inflation. He has no plan to fight gas prices," she tells AFN. "His only plan seems to be to kind of message that his policies are helping."
Coincidentally, Job Creators Network put up a billboard in Times Square that listed all of what Parker calls the "failures of this administration."
"From soaring gas prices and inflation to baby formula shortages, even chaos at the border," says Parker. "The list went on and on and on – and the billboard company finally said, 'Stop, you are out of room.' So, we just ended it with 'thanks for nothing.'"
Joel Griffith of The Heritage Foundation also thinks Biden's "plan" is not actually a plan (see earlier article). In addition, Henry Olsen, senior fellow at the Ethics and Public Policy Center wrote as much in an op-ed published in The Washington Post.
Jonathan Williams of American Legislative Exchange Council (ALEC) also feels that way.
"The culprit, of course, was the multi-trillion runup in federal spending around the pandemic for some needed things – and then a whole lot of unneeded things that got thrown into that with trillions here and trillions there," Williams tells AFN.
"… With the federal debt now surpassing $30 trillion with this run-up in spending, it's no surprise that the United States has runaway inflation. And coupled with lack of economic growth, that means we are staring down the very real threat of a Jimmy Carter-era stagflation crisis in America."
And that, he emphasizes, is why what's needed now is more economic growth – and getting inflation under control.
