For at least the past month now, the mainstream media has been hammering the Biden administration ad nauseum claiming the president’s agenda is causing inflation.
This is blatantly disingenuous. Macroeconomic issues are incredibly complex, however, the increased inflation we are currently seeing is almost entirely due to supply chain issues caused by the worst pandemic the world has seen in over a century.
I didn’t hear much, if anything, when former President Donald Trump passed a $2 trillion tax cut where almost all the benefits went to the wealthy and corporations. I also didn’t hear anything when the Federal Reserve pumped another $2 trillion into the markets to juice the economy at the height of COVID in 2020.
Why only now are we hearing talks on inflation and deficits? Easy. Build Back Better, which honestly at this point has been almost entirely gutted, might help the average American. Things like increased social spending, paid family, lower drug prices, free community college, etc, might cause a slight tax increase for corporations and the wealthiest Americans.
They won’t stand for that. Instead, corporate media will fear monger and demagogue until the very people who would directly benefit from increased federal spending would help turn against it.