The left-wing narrative on inflation continues to make claims that are simply not accurate. Democrats from the White House to US lawmakers on down continue to claim that inflation is because of Russian President Vladimir Putin, so-called corporate greed, or both.
Another Democratic talking point on inflation argues that Republicans are to blame since they’ve opposed Joe Biden’s rampant spending bills, such as the Build Back Better Act.
The reality is that inflation today would be much worse, had the Build Back Better Act not been defeated in December 2021.
Lawmakers such as Sen. Elizabeth Warren (D-MA) continue to blame the above mentioned causes for inflation. However, no matter how many times Warren and others make these arguments, reality continues to tell a different story.
Contradictions Between Warren’s Words and Actions
Warren, like other Democrats, argues that high prices and other problems being faced by the middle class are unfair. Yet, while this is true, Democratic lawmakers, including Warren, voted for the policies that created today’s problems.
The American Rescue Plan is a prime example of this. In the Senate, Warren voted in favor of passing the American Rescue Plan, claiming it would provide relief to Americans. In actuality, this spending bill has been cited multiple times as one of the main drivers of inflation.
Warren’s rhetoric about inflation being the fault of Putin and US corporate greed is demonstrably untrue. For starters, the Russian president kicked off his war against Ukraine well after America was facing inflation.
Likewise, the corporations that Democrats rail against are taking hits from inflation as well. Target and Walmart have seen their stocks tank. Netflix recently laid off more than 100 workers, due to profit losses incurred by the company.
If Warren and other Democrats truly cared about the problems everyday Americans are facing, they’d support fiscally conservative prices that lower taxes and everyday expenses.
More Bad Policies Coming?
As inflation continues to devour the economy and the middle class, some Democrats have proposed legislation that would essentially put a cap on prices that businesses are able to charge.
This will not stop inflation. However, it will cause more problems for companies and lead to more unemployment amongst staffers working for these establishments.
The prices of freight, inventory, overhead, and other business expenses have gone up.
In order for companies to stay in the market, they have to increase prices. Being forced to sell at a loss as the government keeps spending would eventually tank the economy and Americans along with it.