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Joe Biden was partying over the Democrats’ “Inflation Reduction Act” just as inflation was surging upward.
In fact, according to a commentary at The Gatestone Institute by Daniel Greenfield, a Shillman Journalism Fellow at the David Horowitz Freedom Center, Biden’s agenda, instead of lowering inflation, actually “gooses” it.
“Biden threw a party to celebrate the Inflation Reduction Act on the White House South Lawn even as the latest figures showed that core inflation has continued to rise. Grocery prices had the steepest increase since 1979. Rent prices shot up again and medical costs are escalating,” he explained.
“Even the most loyal media lapdogs could hardly stand this festival of lies. CNN cut away from Biden’s masque of red ink to show what was happening to the stock market. Reuters acidly headlined its coverage, ‘Biden celebrates ‘Inflation Reduction Act’ as food, rent prices climb’.”
So just exactly what was being celebrated?
“The Inflation Reduction Act is a lie. It doesn’t reduce inflation: it actually gooses it. The IRA is another inflationary leftist spending boondoggle that throws billions at green energy and $80 billion at the IRS to audit the middle class in the hopes of balancing out some of the crony cash,” he explained. “A week after signing the IRA, Biden announced a trillion dollar loan bailout for his party’s base of perpetual grad students. Like the Inflation Reduction Act, this was a massive wealth transfer. Audit the middle class and send the checks to Tesla drivers and sociology grad students. Raise inflation rates with inflationary spending and transfer some of the wealth over to welfare voters.”
Actually, THAT was what the White House was celebrating, the redistribution of money from one group of people to another, he wrote.
“The Biden administration isn’t fighting inflation, it’s deliberately increasing it even as its cronies in the Federal Reserve hammer home new interest rate hikes to force the economy into a recession. This two-step dance destroys savings, wrecks investments and allows for a massive wealth transfer to Democrat donors, special interests and voters. The more that the Democrat majority spends, the worse inflation gets and the more justification there is for higher rates,” he warned.
And, he predicted, as recession problems worsen, “there’ll be even more justification for government wealth transfers.”
Biden, in his celebration, boasted of being “in a position that FDR was.”
“FDR’s position was to use the Soviet Union and Mussolini’s Italy as templates for dramatically transforming America through massive spending, socialist controls and crackdowns on conservative political opponents. So far Biden has managed 2 out of 3,” he said.
He said Biden administration isn’t working to “save the economy,” but its strategy is to “create the crisis, worsen it, and then exploit it.”
Greefield said what the administration wants to remain from the chaos is “only the omnipotent state.”
“It’s a vicious circle, but from the standpoint of a socialist, it’s a grand opportunity to Cloward-Piven the economy as we know it into the abyss,” he said.
“And make a whole lot of money for an army of politically connected special interests.”
Biden, no “firefighter,” actually is “an arsonist in a big helmet and black boots,” he warned.
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This article was originally published by the WND News Center.