The precipitous rise in prices for gas and virtually every other commodity comes from massive government spending atop regulatory strictures that diminish supply, particularly of domestic oil and natural gas. The explosion in federal spending, including Biden’s $1.9 trillion American Rescue Plan Act and his $1.2 trillion Infrastructure Investment and Jobs Act, has catapulted the nation into over $30 trillion in debt, pushing federal dollars into the economy at an alarming rate, the highest in American history. The inflationary impact of that profligate spending is aggravated by government-induced shortages in oil and gas, which not only raise gas prices but also drive up the cost of all goods and services and induce supply chain disruptions. These are structural catalysts to inflation and supply shortages that will feed cost spirals until government gets out of the way. President Biden knows only one direction, more government. He refuses to accept any responsibility for the inflation caused by his massive federal spending and overregulation, and he hopes by misleading the American people he can save his party from a drubbing in the mid-terms.
Indeed, with an astounding disregard for American welfare (some one in five Americans likely cannot afford basic food requirements