Senator Elizabeth Warren (D.MA) tried to shift responsibility for Wednesday’s catastrophic inflation report by blaming Russia’s President Vladimir Putin and supply chain issues related to the Chinese coronavirus Pandemic as well as “corporate monopolies” rather that poor economic policies adopted by Democrats who control Washington, DC.
She stated that the main causes of inflation are a shock to energy from Putin’s war, a glut of supply chains still recovering from a pandemic and price rises by corporate monopolies. The annual inflation rate climbed to 9.1 percent.
Warren stated that the Fed is not equipped to react and rate increases could lead to a recession. Warren urged Congress to act by making billionaire corporations pay minimum taxes, investing in affordable child care, as well as allowing Medicare to negotiate lower prescription drug costs.
She stated that we should use all available tools to reduce the cost of living for working families. Warren did not mention that Democrats hold complete control over Washington, DC. She also failed to mention the Biden administration’s destruction of American energy independence and bad fiscal policy — borrowing large amounts of money and printing excessive amounts of it.
Congress can combat inflation by making billionaire corporations pay a minimum amount in taxes, invest to affordable child care, or empower Medicare to negotiate lower prices for prescription drugs.
Ted Cruz is one of those who have already addressed the Democrats’ spin.
According to polls, while Americans consider inflation to be one of their top concerns as they head into midterm elections, only 11 percent blame Russian President Vladimir Putin (which is now up 41.6%).