The President laid out a new plan to fight skyrocketing inflation on Tuesday. During this speech, he claimed his policies have been put into place to help fight inflation while, for some reason, also calling out the “Ultra-Maga.” The President is currently facing the highest inflation rates in over four decades. In the war between Russia and Ukraine., supply chain shortages and post-pandemic recovery have helped destroy the rising wages Americans received at the end of the Trump Presidental run.
Since March, the consumer price index has risen by over 8.5% since last year, and it doesn’t look to be slowing down. This is the fastest increase since 1982. When speaking on this matter, the President claimed this is his highest priority and is taking it very seriously. His current plan to fight inflation is the same Democratic talking point of taxing corporations and insisting that they not price gouge to recover profits loss from taxation. He also claimed that Republicans are planning to tax the middle class and let the corporations off the hook.
“My plan attacks tax inflation and grows the economy, by lowering costs for working families, giving workers well-deserved raises, reducing the deficit by historic levels, making big corporations, the very wealthiest Americans pay their fair share,” Biden said.
When asked if he would take responsibility for the current rise in inflation, the President stated it’s not his fault. Though the Democrats mainly control all three Lawmaking sides of government, the President is having a tough time getting through the Senate. Senators Joe Manchin and Kirsten Sinema have proved to be a force keeping Biden from ramrodding his economic policies and the other Republicans in the Senate. [Source Fox News]
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