More and more Americans are starting to question Joe Biden’s declining mental faculties.
And during a recent town hall, Biden’s cognitive decline was on full display.
That’s because Joe Biden said the most idiotic thing anyone has ever heard.
After the Consumer Price Index surged much more than expected in June, inflation is becoming a top concern for voters across the country.
During a recent town hall event hosted by CNN, the “moderator” tossed Joe Biden a softball question about inflation so they could create content to promote to viewers about how Biden supposedly has a handle on the emerging crisis.
However, Biden struck out – big time – by claiming that spending another $4 to 5 trillion on “infrastructure” – a Green New Deal and a welfare state bill – would be the best way to combat the rising tide of inflation.
Biden: Our multi trillion dollar spending bills “will reduce inflation, reduce inflation, reduce inflation" pic.twitter.com/NcKVVaBxxZ
— Tom Elliott (@tomselliott) July 22, 2021
Of course, most high school students even know that this is the exact opposite of how the laws of economics work.
Unless what Biden meant by “reinvesting” is that, instead of having the Federal Reserve print the money, he plans to take more money from the paychecks of hardworking Americans to fund the trillions of dollars in new spending.
That’s because whenever the Federal Reserve prints more money, it lowers its purchasing power, creating a rise in prices for consumers as Americans see their purchasing power decline.
Right now, Congress is planning to raise the debt ceiling up to $30 trillion in the near future, which certainly will not slow down inflation.
In fact, even Wall Street economists who are usually sympathetic to Democrats and the Biden administration are predicting inflation to run longer than previously expected.
The 1980 Reagan Revolution was ushered in by the inflation crisis of the 1970s.
If inflation continues to rise, as expected, it could hurt the Democrats and set the stage for a Donald Trump comeback in 2024.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.