Cecilia Rouse, council of economic advisers chair, shared on “Fox News Sunday” the group expects to see what she calls some “transitory inflation” as America recovers from the COVID-19 pandemic.
The response came to host Chris Wallace asking, “Can you guarantee with all this spending that we are not going to have a new round of overheating the economy and serious inflation?”
She admitted some inflation, as well as noting, “We expect that there is going to be supply chain disruptions. That will cause some transitory increases in prices.”
Rouse also said, “We know that there are some places where employers are struggling to workers.” The combination of more places opening without hiring the same level of workers as before the pandemic can be felt by most Americans visiting a retail store, eating at a restaurant or buying groceries.
In other words, Americans can expect prices to go up, supplies to be low and employers to be understaffed. So what part about this is Biden going to take responsibility for?
Probably none of it. If he doesn’t assign it to Vice President Kamala Harris, he seems to simply ignore the numerous critical factors hurting our country so he can talk about unity and bipartisanship.
He may also focus on “infrastructure” that will fund blue state projects and “four free years of public education,” which hilariously includes two years of sub-par community college and two years of PRE-SCHOOL. Because was all want the government to brainwash our kids two years sooner, right?
For many, we first discover prices going up when we pull up to the gas pump. The average price per gallon in parts of California is already more than $4. The average price nationwide is 13 cents higher than one month ago.
NBC notes that since the start of the year, 59 of the first 60 days included a gas price increase. The average cost of gas is more than 85 cents per gallon higher than the start of the year.
You can’t blame this stuff on Trump. He led when the pandemic started. Unemployment spiked to as high as 13 percent. By the time Biden took office, it was back down to the six percent range.
Americans looking for a home are also seeing significant change. The housing boom is great for those selling or refinancing, but those seeking housing are facing huge price spikes.
The same is true for those in construction industries. CNBC reported last week that soaring lumber prices are adding $36,000 to the cost of the average new home.
While much of the housing cost change is due to pandemic issues, Biden’s policies are not helping and aren’t even addressing these problems. Instead, the president’s first 100 days of office eliminated thousands of pipeline jobs, rolled back numerous Trump policies that put America first and opened the border the hundreds of thousands of illegal immigrants.
Inflation is here and is unfortunately not being addressed. Instead, Biden wants to spend a few trillion more dollars for infrastructure and families. If he gets his way, he may try to play Robin Hood by taking from the rich and giving to the poor, but America’s economy will take a hit for years to come.