Within the conservative corners of the internet, a new phrase is hitting the economic nail on the head: Bidenflation.
The concept is simple: The Biden administration’s consistent missteps have now brought a very real fiscal emergency to the United States in the form of rampant, near-runaway inflation. There are a myriad of factors involved, including the ever-worsening supply chain issues that Transportation Secretary Pete Buttigieg has attempted to blame on the unvaccinated.
Now, with gas in ultra-liberal California cresting $7 per gallon, the President is openly admitting that he has no solution for the situation.
President Biden admitted during a CNN town hall Thursday night that he has no immediate solution to the problem of spiking gas prices and suggested that Americans would not start seeing relief at the pump until next year.
“My guess is, you’ll start to see gas prices come down as we get by and going into the winter – I mean, excuse me, into next year, 2022,” the president told moderator Anderson Cooper at the Baltimore event.
“I don’t see anything that’s going to happen in the meantime that’s going to significantly reduce gas prices.”
“I must tell you, I don’t have a near-term answer,” Biden added before musing on the possibility that he could “go in the [Strategic] Petroleum Reserve and take out and probably reduce the price of gas maybe 18 cents or so per gallon, [but] it’s still gonna be above three bucks.”
This economic squeeze looks to be coming to its crescendo at exactly the wrong time, as American consumers look to begin their annual holiday spending blitz in the coming weeks.
Cross-posted with Flag and Cross
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