BIDENS INFLATION LIE

Written by on March 20, 2022

BIDEN’S INFLATION LIE

Shared By Peter Boykin – American Political Commentator / Citizen Journalist

 

Someone needs to change Joey’s diaper. He got a little cranky, speaking to his fellow Democrats recently…

Joe Biden claimed that more spending doesn’t create inflation:
“I’m sick of this stuff! …the American people think the reason for inflation is the government spending more money. Simply not true!”
…this claim is false.

The truth is reckless government spending does lead to inflation. And you don’t have to be an economist to understand how. Let me explain:

1️⃣ This is the monthly rate of inflation since Biden took office.
Notice that he inherited low 1.4% inflation
Just four months later inflation hit 5% and kept climbing


2️⃣ The next chart is the rate of asset purchases made by the Federal Reserve since Biden took office – this is often referred to as “quantitative easing.”
Why does the Fed purchase assets? To create dollars out of thin air.
Why do we inject dollars out of thin air? So reckless politicians can spend money we don’t have.


3️⃣ This last chart shows the supply of dollars in the market since 1975. Notice what happens in 2020-2022? Recklessly printing dollars [as shown in the chart above] caused us to quadruple the supply of dollars in the market.


Increasing the number of dollars in the market leads to an economic scenario called demand-pull inflation.
Demand-pull inflation is when you have too much money chasing too few goods.
We overflooded the market with dollars but the supply of goods stayed the same.
When there’s not enough supply to meet demand, the price goes up.
Biden is lying to you about this because he still wants to pass his multi-trillion dollar “Build Back Better” spending bill, which would turn us into a Green New Deal welfare state.

[Source: Charts 1 and 3 have sources on them. Chart 2 is from the Federal Reserve]

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