President Joe Biden addressed the issue of inflation, attributing it to corporations and urging them to lower their prices.
However, critics argue that Biden’s lack of experience in the private sector makes his stance questionable, especially considering his extensive time in government.
They point out that higher wages, which Biden supports, can lead to increased prices. (Trending: US State Unveils Controversial ‘Gender Neutral’ Laws)
.@POTUS: "To any corporation that has not brought their prices back down, even as inflation has come down, even as supply chains have been rebuilt – it's time to stop the price gouging."
President Biden on Monday afternoon announced new efforts to strengthen America’s supply… pic.twitter.com/0MPY8SBkTa
— The Hill (@thehill) November 27, 2023
“Let me be clear: To any corporation that has not brought their prices back down — even as inflation has come down, even as supply chains have been rebuilt — it’s time to stop the price gouging, giving the American consumer a break,” Biden stated.
Additionally, they argue that blaming corporations overlooks the majority of small businesses and that the recent inflation coincides with significant government spending.
“Cheerlead massive union (and other) wage increases, but target companies when they have to pay the bill for them?” energy analyst Patrick de Haan wrote.
Cheerlead massive union (and other) wage increases, but target companies when they have to pay the bill for them? 🤦♂️
‘Stop the price-gouging’: Biden hits corporations over high consumer costs @CNBC https://t.co/KFfamRd4JH
— Patrick De Haan ⛽️📊 (@GasBuddyGuy) November 28, 2023
The criticism suggests that Biden’s approach reflects a preference for government intervention in the economy, which raises doubts about its effectiveness.
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