Joe Biden’s slowly losing his marbles.
That was apparent in a CNN town hall.
And Joe Biden said the stupidest thing anyone has ever heard.
Inflation is becoming a concern for voters.
Prices are rising at the fastest rate since 2008 as Joe Biden and the Federal Reserve team together to print trillions of dollars to fund a socialist welfare state agenda.
CNN offered Joe Biden a softball question about inflation so they could create content to promote how Biden supposedly has a handle on this growing crisis.
Biden whiffed, giving a seemingly nonsensical answer that spending another 4 to 5 trillion dollars on a so-called “infrastructure bill” and a Green New Deal and welfare state bill would actually combat inflation somehow.
Biden: Our multi trillion dollar spending bills “will reduce inflation, reduce inflation, reduce inflation" pic.twitter.com/NcKVVaBxxZ
— Tom Elliott (@tomselliott) July 22, 2021
That is not the way the laws of economics work.
Not unless what Biden meant by “reinvesting” is that he plans to take more in confiscatory taxes than the trillions of dollars the Federal Reserve has already printed recently.
As the Federal Reserve prints more money it declines in value and prices rise.
Americans see the purchasing power of their paychecks decline.
Congress is also on the verge of raising the debt ceiling to 30 trillion dollars.
Adding trillions of new dollars to the debt to fund welfare spending will not bring inflation to heel.
Even Wall Street economists sympathetic to Democrats and the Biden administration believe inflation will run hotter way longer than previously predicted.
The inflation crisis in the 1970s helped usher in the Reagan Revolution in 1980.
Biden and his allies fear that if inflation continues to run wild it will soon choke off all economic growth and set the stage for a Donald Trump comeback in 2024.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.