House Republicans will vote to END Bidenflation next week

[reason10]

https://www.foxnews.com/politics/gop-looks-rein-bidens-inflationary-executive-orders-vote-next-week

GOP looks to rein in Biden’s inflationary executive orders in vote next week

House Republicans will vote on legislation next week that would require the White House to analyze how major executive orders will affect prices across the U.S. economy before issuing those orders – an attempt to curb what the GOP says is President Biden’s habit of imposing costly rules that are fueling "devastating inflation."

The bill, "Reduce Exacerbated Inflation Negatively Impacting the Nation Act," or REIN IN Act, is sponsored by some of the top Republican leaders and committee chairmen in the 118th Congress. They include House GOP Conference Chair Elise Stefanik of New York, Ways and Means Committee Chairman Jason Smith of Missouri, Financial Services Committee Chairman Patrick McHenry of North Carolina and Oversight and Accountability Chairman James Comer of Kentucky.

Those lawmakers say Biden’s orders are fueling inflation in the U.S., including the one he issued on the first day in office that revoked the Keystone XL pipeline permit that former President Donald Trump had granted. That decision was estimated to cost thousands of jobs and several billions dollars in lost economic growth, and put inflationary pressures on energy prices.

Points to ponder:

1. YES, Biden BY HIMSELF is responsible for this RECORD HIGHEST INFLATION in history with his executive orders. (Inflation defined as TOO MANY DOLLARS CHASING TOO FEW GOODS.)

2. YES,  Biden increased the deficit to RECORD LEVELS with this welfare expansion: https://cnsnews.com/commentary/david-ditch/debunking-bidens-malarkey-7-ways-he-added-6-trillion-deficits 

Debunking Biden’s Malarkey: 7 Ways He Added $6 Trillion to Deficits

This isn’t an accident, but instead the result of many deliberate choices by Biden and Congress to increase spending and add to the national debt recklessly. Here are seven:

• The largest by far was the $1.9 trillion package of welfare expansions and bailouts in March 2021, which passed Congress with Democrat-only support. It was promoted as a response to COVID-19. In reality, the bill was a textbook example of political opportunism that took advantage of the pandemic to enact a raft of the Left’s priorities.
• The 2021 infrastructure package, which Biden regularly cites as an achievement, was loaded with budget gimmicks to hide its true cost and included many wasteful carve-outs for progressives. The Biden administration’s highly flawed and partisan implementation of the bill only has made things worse.
• Biden was happy to sign two omnibus appropriations packages, both of which were thousands of pages long, larded up with pork and unnecessary spending increases for the swamp, and included tens of billions in questionable non-military aid to Ukraine.
• The so-called Inflation Reduction Act, a mix of tax hikes and Green New Deal-style industrial subsidies, was designed in a way that will add to deficits over the first five years and add even more down the line if any of its spending is renewed. Incredibly, things would have been even worse if the originally planned “Build Back Better” debacle had become law.
• The COMPETES Act, supposedly about addressing challenges posed by China, was in fact a deficit-financed mess of corporate welfare and increased spending authorizations for federal “science” bureaucracies.
• The PACT Act started as a reasonable measure to assist veterans who suffered from toxic exposure, but was turned into a massive expansion for the government-run Veterans Affairs system with a huge price tag. Since veterans’ benefits are a core federal responsibility, Congress should have the decency to ensure the VA system is paid for rather than casually swiping the national credit card.
• Biden has enacted or is in the process of implementing several executive orders and regulations that add billions of dollars apiece to costs, leading to a mix of higher deficits and reduced purchasing power. These include a massive “Thrifty Food Plan” increase in food stamp benefits; college loan repayment deferrals and the still-pending forgiveness scheme; an Obamacare eligibility expansion; and more stringent rules for two types of labor mandates on infrastructure projects.

This continual surge of deficit spending was a leading factor in the surge of inflation, leading the Federal Reserve to start hiking interest rates, a development that could stall the economic recovery.

3. Still stupid enough to try to blame this on Trump?

During his State of the Union speech, Biden blamed the high national debt on the Trump administration. This deflection has a kernel of truth—deficits were too high from 2017 through 2020—but removes all context. The bulk of Trump-era deficit increases were the result of bipartisan spending bills such as the CARES Act of March 2020 and excessively large appropriations packages.

Uh, the HOUSE in that year was controlled by Nazi Pelosi and the Democrats.

Democrats also attempt to blame deficits on the 2017 tax cut, but tax revenues now actually exceeded projections made before that bill’s passage and in 2022 were at a multidecade high as a share of the economy.

 

Bottom line,  the TRUMP years had gasoline prices dropping and almost NO inflation.

We don't expect much to change, since the Nazis are still in control of the Senate. But this should go a long way towards flipping the Senate back to the Americans in 2024.