Latest

Biden announces $1B plan to ‘help’ meat industry, stares blankly when asked about it

January 4, 2022 | | Print Article

Get the latest BPR news delivered free to your inbox daily. SIGN UP HERE

(Video Credit: ABC News)

President Joe Biden disingenuously recounted a story on Monday of a family friend complaining to him that hamburger meat now costs over $5 per pound and then announced a $1 billion plan he is offering to small meat producers in order to fight inflation.

Biden seized the opportunity to attack corporate “middlemen” rather than acknowledge that his economic policies have led to the highest inflation seen in this country in decades which has caused the price of food and consumer products to skyrocket. An argument can be made that if the little guys take the money from the government, that they will then be federally controlled and will no longer be independent. In other words, many consider it a trap.

“I was sitting in my kitchen yesterday and here’s a sunroom off the kitchen and my wife was there with her sister and a good friend named Mary Ann,” Biden stated during a staged event supposedly aimed at lowering meat prices. “And she was saying, ‘Do you realize it’s over $5 for a pound of hamburger meat? $5?’”

“Well, this is partly, you know, the pound of beef today costs five bucks compared to less than four bucks before the pandemic,” he said evidently trying to justify the pricing using COVID as an excuse.

“Capitalism without competition isn’t capitalism. It’s exploitation,” Biden proclaimed. “That’s what we’re seeing in meat and poultry industries now.”

“And here’s some historical context: 50 years ago, ranchers got over 60 cents for every dollar a family spent on beef,” the president declared. “Today, they get about 39 cents. 50 years ago, hog farmers got 40 to 50 cents for each dollar they spent. Today, it’s about 19 cents. And the big companies are making massive profits.”

“While their profits go up, the prices you see in the grocery stores go up commensurate,” he added. “And the prices farmers receive for the products they are bringing to market go down. This reflects the market being distorted by lack of competition.”

Biden reportedly plans to take $1 billion from his American Rescue Plan Act to allegedly bolster independent meat processing companies. He is calling out the four top meat processing firms in the nation for trying to squeeze out their competitors. According to the New York Post, those companies include Minnesota-based commodity trader Cargill, Arkansas-based chicken producer Tyson Foods, Brazil-based meatpacker JBS, and Missouri-based National Beef Packing Co., which is owned by Brazilian beef producer Marfrig Global Foods.

“Four large meat-packing companies control 85% of the beef market. In poultry, the top four processing firms control 54% of the market. And in pork, the top four processing firms control about 70% of the market,” the White House asserted. “When dominant middlemen control so much of the supply chain, they can increase their own profits at the expense of both farmers — who make less — and consumers, who pay more.”

Although Biden appears to be championing the little guy and capitalism, there are far too many strings attached to the deal and, to many,  it looks far more like a government bid for control of the meat industry.

Twitter pundit David Burge took the opportunity to point out the economic insanity of Biden’s disastrous policies which have very little if anything to do with actual capitalism, saying, “The money printing will continue until the prices decrease.”

Attorney General Merrick Garland was at the event with Biden and addressed the Justice Department getting involved and enforcing laws against anti-competitive behavior by monopolies.

Biden’s approval numbers are tanking over inflation as Americans struggle to make ends meet. Inflation hit a 39-year high in November with energy, gasoline, and food being hardest hit.

The cost of ground beef has gone up 13.9 percent in the last 12 months, according to data from the government. Bacon has risen 21 percent, chicken has gone up 9.2 percent, and fresh fish and seafood have jumped 10.6 percent.

While Biden levels blame at the meat processors, Americans are blaming him for the high inflation in part due to the president’s American Rescue Plan that injected $1.9 trillion into the economy, devaluing U.S. dollars. That followed $4 trillion that was pumped into the economy in 2020 because of the pandemic.

Biden arrived late to the event due to a snowstorm. Following the meeting, reporters shouted questions concerning COVID cases and testing. He told one reporter, “I’ll be talking to you about that later.”

He did not answer a question that was asked about his plans to mass-distribute 500 million at-home COVID rapid tests. The White House declared a “lid” after the event, calling it quits for the day.

Some pointed out that Biden smirked during the questions. Others said he just had a blank stare. Either way, it’s going to be a long three years:

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

$10
$15
$25
$50
Other
$
Success! Thank you for donating. Please share BPR content to help combat the lies.
Terresa Monroe-Hamilton
Latest posts by Terresa Monroe-Hamilton (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

BPR INSIDER COMMENTS

Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!

Latest Articles