(Video Credit: Fox News)
Fox News host Mark Levin ripped into President Biden Sunday for blaming everyone but himself for massive shortages, the energy crisis, skyrocketing inflation, and an overall decline in our standard of living.
Levin would know. He was there in the thick of it in the 70s and 80s during former President Jimmy Carter’s catastrophic economic policies which resulted in stagflation and then when former President Reagan raised interest rates to right the ship. Reagan then countered those interest rates by slashing taxes to lessen the blow to Americans. Levin served as the Reagan Justice Department chief of staff and remembers those days well.
“I lived through the 1970s into the ’80s — Carter and Reagan,” he recounted. “But Reagan took a different tactic: He slashed taxes on the fiscal side so the American people could at least survive it.”
Levin notes that Biden instead wants to increase taxes while increasing interest rates. That type of economic insanity is certain to make inflation worse according to the Fox News host.
“I guess I’ll blame Putin for that. He blames Big Meat, Big Oil, Big Baby Formula, Big Tampon, Big ‘Everything Else’ for shortages in this country,” Levin charged, merely pointing out what President Biden is doing currently.
Shortages in baby formula and tampons plague the Biden administration which keeps claiming they are handling it, yet the shortages continue.
During Levin’s show, “Life, Liberty & Levin,” he turned to Fox Business anchor Dagen McDowell, asking for her opinion and if he had missed something somewhere. She concurred with his assessment.
“I think that whatever the Biden administration does to respond to the 40-year-high inflation is going to be a policy mistake because they cannot own how they created this hardship for every American, regardless of who folks voted for,” McDowell flatly stated.
“Forty-year-high inflation with gas prices near a record. Diesel prices at a new record as of Friday. They can’t own that the two trillion dollars in spending last year fomented a lot of this inflation,” she added.
She also pointed out that Biden could have fired Fed Chair Jerome Powell this year, but chose not to.
“The Federal Reserve is responsible for it as well, but guess who is still running the Federal Reserve? Jay Powell,” McDowell remarked.
“Joe Biden reappointed the guy for another term running the Fed. If Biden took a page from the Trump playbook, he would have fired him and blamed Jay Powell and put somebody new in. But he didn’t even do that. So whatever the Biden administration does — maybe they’re going to try to cut checks or rebates to people to pay for gasoline — that’s being floated around again – again, that’s more fiscal spending and stimulus, so it’s not going to alleviate the problem. Maybe it’ll score some political points.” she asserted.
McDowell then noted how much worse things would have been if Biden’s agenda had actually fully materialized last year.
“But just imagine if “Build, Back, Better” had passed last fall. Five trillion dollars in spending, which one, they said it wasn’t going to cost anything, and two, they needed to spend that money to lower inflation. So, whatever the Biden administration does is going to make the situation worse. They will continue to make policy mistakes. But they will also not embrace the private sector. That is the big evil meat, big evil lumber, big evil oil, and that ultimately also compounds the inflationary mistake they’ve made, that they can’t release the spirits of all of these companies to…” McDowell continued halting in mid-stride briefly.
“It should have been all of the above in terms of producing more oil and natural gas in this country. Especially, earlier this year when prices really started to spike even though they had been going up the entire time that Joe Biden was in office. But he won’t do that because he’s still worried about courting the green movement, stupidly,” she concluded.
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