On the watch of the current president, Americans’ finances continue to get worse and worse. This comes as a result of Biden’s expenditures, along with the federal government’s decision to repeatedly print money, thus devaluing the US dollar.
Despite all the harm that has come from this administration’s fiscal policies, it still can’t quit lying to the public. One of the White House’s latest lies involves the claim that Russia’s president is at fault for inflation in America.
The beginning of inflation, however, dates back to early 2021, well before Russia took action against Ukraine.
Even when his lies are openly easy to disprove, Joe Biden just keeps coming up with new ones. This is one key reason why he’s under fire now, according to Twitchy.
The Most Ironic Lie of All
On Tax Day, Biden decided to promote his own spending plans while attacking the Congressional Republican Tax Plan.
The president claimed on Monday that the latter plan would cause tax increases on middle-class families, whereas his spending bill will ensure no one earning less than $400K per year has to pay more in taxes.
Of course, this is demonstrably false. The Congressional Republican Tax Plan actually does lower taxes for Americans. However, the spending plan that Biden referenced is a key reason why inflation is a problem today.
Biden contends that no earners below $400K per year will pay higher taxes, but the worst tax of all is already here in the form of inflation.
Inflation is raging through the economy and earners below $400K are being hit especially hard. As prices rise, the power of the US dollar gets smaller. This means that more economic resources and disposal income are necessary in order to avoid being crushed by inflation.
Thanks to Biden’s fiscal reforms, many Americans today are wondering how they’re going to survive from month to month.
The End of the Line
When it comes to spending bills from the Biden administration, America cannot take any more of them. The economy today that remains saddled down by an 8.5% inflation rate is proof enough of that.
Still, Biden will not stop running up the national deficit on his own. He’ll continue making the economy worse for as long as he possibly can.
This is why it’s so important for the power balance in Congress to shift this November. A Republican-led Congress will not let Biden pass expenditures that cause further harm to the economy.