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November 15, 2021

Inflation already hurting Americans, and Biden’s Build Back Better will make things even worse

Liz Peek Articles

Are you better off than you were two years ago?

That’s what Republicans will ask voters a year from now.

That was the question Ronald Reagan famously posed to Americans during his last debate with then-president Jimmy Carter. The country answered by delivering one of the greatest election landslides of all time; Reagan won 489 Electoral College votes to Carter’s 49.

How will the nation respond this time around?

One clue comes from the horrendous consumer sentiment survey just released from the University of Michigan. The monthly pulse-taking came in at 66.8, the lowest in a decade, revealing a deeply unhappy country.

By comparison, consumer sentiment just before Reagan’s 1980 win was 75.

It is notable that even with all partisan acrimony and in spite of COVID-19 causing death and economic hardship around the entire globe, consumers never sank to this level of gloom during President Trump’s four years in office.

Richard Curtin, who oversees the survey, says the poor results mainly reflect concern about rising prices. Consumers expect inflation next year to reach 4.9%, the highest since 2008 and well below the actual current pace of price increases.

The most pessimistic respondents were older people and lower-income Americans for whom the rising costs of basic necessities is especially harmful.

These are worrisome trends that echo other recent sentiment surveys. They are especially shocking when you consider that the stock market, normally a yardstick of the country’s mood, keeps hitting all-time highs; also, jobs are plentiful.

It only makes sense when combined with President Biden’s ghastly approval ratings, and Curtin’s assessment that consumers increasingly believe “that no effective policies have yet been developed to reduce the damage from surging inflation.”

Consumers aren’t stupid; not only does the Biden administration have no “effective policies” to manage inflation, until just recently they didn’t even admit the problem existed.

President Biden finally addressed the issue last week, sounding more like Jackie Mason playing the Borscht Belt than an effective commander in chief. “Did you ever think you’d be paying this much for a gallon of gas? In some parts of California, they’re paying $4.50 a gallon!” Surprising he didn’t add, “Did you hear the one about the price of used cars???”

Unfortunately, Biden’s late-breaking awareness of our inflation problem did not come packaged with a solution. Instead, tin-eared Biden continues to hype his multitrillion-dollar Build Back Better bill, which he says will help bring prices down.

No, it won’t. And in fact, Biden expressly said so in his muddled remarks. As he expressed shock about the price of gasoline, Biden claimed, “That’s why it’s so important we do everything in our power to stabilize the  supply chain…”

Just for the record, the very real supply chain bottlenecks that are keeping goods from landing in stores have absolutely zip to do with rising gasoline prices. That’s on Joe Biden, who has discouraged U.S. oil and gas investment and also insulted and alienated the most influential person in OPEC, Mohammed bin Salman. OPEC is understandably unmoved by Biden’s pleas for more oil.

Biden also claimed, “At the same time, we’re also experiencing higher demand for goods because wages are up as well as people have money in the bank. And because of the strength of our economic recovery, American families have been able to buy more products.”

In other words, consumers are flush, and our recovery is strong. So … what on earth are we doing spending trillions more on Biden’s favored bill? The same could have been argued (and we did) before the $1.9 trillion American Rescue Plan passed in March. We did not need to hype government spending then, and we do not need to do so now.

Democrats would argue that Build Back Better (BBB) is not about infusing the economy with more cash, but instead will tackle long-term problems like expensive child care that is keeping women out of the workforce.

Their solution is to subsidize child care for low-earning Americans, while also boosting wages for people working in that field.

But if you’re a middle-class family that must foot the bills on your own, you’re in trouble. Matt Bruenig, left-leaning president of the People’s Policy Project think tank, says the proposal will jack up child care costs by about $13,000 a year, to almost $29,000. Why? Because BBB demands infant care workers be paid the same as elementary school teachers, increasing wages by 138%.

BBB also purports to make home care for the elderly more affordable, but it is union organizers who are especially excited about the proposal. Mary Kay Henry, International SEIU head, cheers, “We have a chance to turn home care, the fastest-growing job in America, from poverty-wage employment into a good union job.” Will that drive costs down? Of course not.

Why should this surprise anyone? Any industry that has a heavy government footprint, including education and health care, has seen costs soar way beyond overall inflation over time. Today, over 40% of higher education costs are funded by state and federal coffers; is it any wonder that the cost of attending a four-year college has increased at twice the level of inflation since 1985?

Or take health care, where the federal government accounts for over 40% of spending, and where total spending has increased 50-fold since 1970.

Federal programs are by definition inefficient; that’s the nature of the beast. Add to that Joe Biden’s push to ensure that workers added to provide home care, pre-K and other services be unionized, thus demanding higher pay, and you can rest assured the BBB will not lower inflation. Just the opposite.

Voters rejected Big Government this past Election Day. They should do so again in 2022. I’m guessing they will.

https://www.foxnews.com/opinion/inflation-hurting-americans-biden-bill-worse-liz-peek

Published on Fox News

Fox Business: Biden Controversy: U.S. Chamber Of Commerce Says Dems Deployed “Gimmicks” To Hide $1 Trillion In Extra Spending Fox News: The real cost of Dem’s Socialist spending plan

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Tweets by Liz

Liz Peek@lizpeek·

10h

No tax is pain-free; taxing business hurts workers & stockholders- and the economy. #recession

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Liz Peek@lizpeek·

6 Aug

This is true- millions retired & now retuning to workforce bec they can’t afford food & shelter

deena10@MissDeeMissDee

Biden didn’t create new jobs. People are going back to work (finally) so they can afford the #BidenInflation in food shelter and fuel. F J B and zero #BidenBoom

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Arsen Ostrovsky@Ostrov_A·

6 Aug

Hi @CNN. I think you got this back-to-front … it is Palestinian Islamic Jihad terrorist that have rained down over 250 rockets at Israel! Israel doesn’t even fire rockets at Gaza, as you blatantly lie!

Hi @CNN. I think you got this back-to-front … it is Palestinian Islamic Jihad terrorist that have rained down over 250 rockets at Israel! Israel doesn’t even fire rockets at Gaza, as you blatantly lie!

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Lance Gooden@Lancegooden·

5 Aug

The U.S. military is struggling to recruit troops.

The Border Patrol is running short of agents.

Meanwhile, Joe Biden is focused on hiring 87,000 new IRS agents.

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Yusuf Unjhawala 🇮🇳@YusufDFI·

5 Aug

Taiwan: “After reunification, we will do re-education”, says the Chinese ambassador to France.
—
One Country, One Gulag. https://t.co/5U2Yzguave

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Liz Peek

9 months ago

Liz Peek

Are you better off than you were 2 years ago?
www.foxnews.com/opinion/inflation-hurting-americans-biden-bill-worse-liz-peek
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Inflation already hurting Americans, and Biden's Build Back Better will make things even worse

Are you better off than you were two years ago? That’s what Republicans will ask voters a year from now.

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Inflation is worldwide and COVID induced.

3/7

Swamp Think

Peek's article posted today on the Fox News website did not mention one word about President Trump's accomplishment of not only leading the way to American Energy Independence but for the country to become net exporters of the energy we and our allies could really use now.

Under President Trump, oil was in the low 40s (while on the same page, oil traders are now predicting as high as $200/barrel this month!), gas in our tanks cost below two bucks, inflation was under two percent and gas station attendant Putin with an economy about the size of Italy's and who is totally dependent on the price of energy was placed in an economic cage… by President Trump.

Instead Peek gives credit to media Saint Obama for his "all the above" strategy which consistent with how he operated was all campaign talk with ZERO follow through.

Does Peek not remember that Saint Obama's response to Putin invading Crimea was to send blankets.

If you want a quick read on Swamp Think, check in with Fox News.

From the Murdoch boys and Paul Ryan on down, no one is pushing the self-serving, elite globalists agenda of running the world as their personal piggy bank harder than Fox News.

And how are the globalists doing at managing world affairs?

No Trump, No Trump Doctrine

There's a growing rumble, by the minute, from people all over the planet who are suddenly missing Trump's policies, not necessarily Trump.

First, Trump's policies, domestic and foreign, were clear and common-sense driven which is anathema to the Swamp control freaks who thrive on complication and confusion to mask their real agendas and who they're really working for.

Second, the hypocrites who are now lamenting Trump's policies are the same, domestic and foreign, who fought Trump every inch of the way to prevent the implementation of policies that clearly worked.

Third, without Trump the fighter, no Trump policies would have ever seen the light of day.

And without what is now collectively the Trump Doctrine, what clear metric would we have to truly understand the depth and devastation of the Biden/Swamp debacle?

Don't you know that the global supply chain story is done on purpose for there to be empty shelves at the grocery stores and what not to screw with the public. This is done by the world economic Forum with the likes of Klaus Schwab Bill Gates and George Soros and their ilk

YOU are the delusional personality, dear. Sticking it against the US to please 🖕trump and putin. Disgusting anti American.

Maybe Liz you would support some immigration reform , you bitch about not having enough servers in your entitled selfish world , oh and you are against mask wearing too , how trumpian of you, the pandemic is all a hoax to you , just dont get sick out there might not be any hospital beds for you . The drs and nurses are sick and tired of taking care of anti mask anti vax selfish repubs Go claim your Darwin Award .

President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

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Liz Peek

9 months ago

Liz Peek

Progressives got hammered on Election Day- but that was only the latest big defeat. What does this mean for Dems? Can Joe pivot? (spoiler-probably not)
www.foxnews.com/opinion/progressive-drubbing-biden-pivot-changing-guard-liz-peek
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Liz Peek: Progressives' drubbing opens door to (unlikely) Biden pivot, changing of the guard

They may not know it yet, but the ultra-liberal cabal that has choked Democrat politics and humiliated spineless party leaders like House Speaker Nancy Pelosi, D-Calif., has lost its mojo.

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Liz have you not heard latest on the “russia collusion” “steele dossier” Fiona Hill???
Or are you a typical msm reporter?

President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

Liz Peek

9 months ago

Liz Peek

Joe Biden wanted to be an historic president- and he has done that. Worst ratings slide of any president since WWII.
He (or whoever is running WH) doesn’t care about voters’ top issues – instead Team Biden obsessing about climate change, gender and race.
No wonder he’s in trouble!
www.foxnews.com/opinion/biden-polls-ignoring-voter-concerns-liz-peek
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Liz Peek: Biden vs. Americans – his priorities, like climate change, ignore top worries of most voters

Voters are worried about inflation, jobs, crime, education and our open border, while the Biden White House is laser-focused on climate change, transgender rights, racism and reducing inequality.

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The great days turned to very bad days in less than a year.
Congress needs a flip to GOP next year to stop the craziness

Climate change is important.
The GOP may not care about it now, but their children will.
He is trying to get an infrastructure bill through.
He has had issues with Afghanistan, but what else could he do
The people who are taking over Afghanistan were released by the previous administration.
I am sure that Biden is not perfect but he is better than Trump.

Your bias is ridiculous. Makes you a bad writer. Btw avg teacher pay is way above 31000. Sensationalize much?

#LetsGoBrandon

Joebama

www.facebook.com/1218170708/posts/10226625535324074/

Duuuuuh President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

worst ratings only from a side thats ignorant to the truth. the effects of coming off a pandemic with oil companies profitting off the pumps in order to pay their shareholders back from profits lost. inflation effects the entire world but of course your base doesnt pull their heads out their asses for one second to look around and use common sense. keep spreading bullshit and weakening our country til it no longer functions as a democracy….bc i see through your fake Christian patriotic pow wows. you are the opposite of ehat you claim and you are the definition of what you claim your rivals are. deflection, projection, hypocrisy. 3 words that sum you up

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