Biden-Harris Admin Boasts Its 'Plan' Will Reduce Inflation, but Carol Roth Quickly Points Out a Problem

It's been quite a week of doubling down on failure for the Biden presidential campaign, but they haven't slowed down as we enter the news industry equivalent of molasses over the Independence Day weekend. As my colleague Bonchie wrote earlier, their social media posts have devolved into what might be a nadir even for this inept and tone-deaf comms crew:

The Biden Campaign Rings in the Fourth by Stepping on Multiple Rakes, Gets Mocked Into Oblivion

But messaging efforts are not going much better for the White House. A post shared from President Joe Biden's official X account on Wednesday boasted that the Biden-Harris administration is on top of reducing inflation, for American families getting crushed by the cost of everything from gas to food to power bills, just over halfway through an election year. The post claims to outline their "plan" to fix that:

Grocery costs are too high for families across the country.

We have a plan to tackle them. pic.twitter.com/hmEOfXdFMF
— President Biden (@POTUS) July 3, 2024

In case you can't see the post, it reads:

Grocery costs are too high for families across the country. We have a plan to tackle them.
The Biden-Harris Administration is Lowering Grocery Costs By:
Partnering with 31 state Attorneys General to take on price gouging
Successfully calling on grocery chains to lower costs -- urging more to join leaders like Target, Wal-Mart, and ALDI in lowering prices
Providing low income families of 4 $2,000 more for groceries by improving SNAP and launching summer EBT

Briefly, let's break down those "solutions." The first two are the federal government playing winners and losers with the free market. I wouldn't be surprised if the first one involves suing businesses to make them come to heel. Sounds totally democratic, doesn't it? The third item is, unsurprisingly, a massive socialist giveaway. If progressives aren't whining that corporations are evil and mistreating people, they're busy inventing new ways to print money and distribute it to people. Both ploys drive up how much everything costs, but hurts low-income people the most.

Conservative money management author Carol Roth quickly demolished the policies outlined in the president's post, explaining that they are exactly why inflation is where it is:

The fact you think this is how to fight the inflation you caused is exactly why we have the inflation you caused… https://t.co/0154njYReH
— Carol Roth (@caroljsroth) July 3, 2024

Here's the hard truth: The administration is fooling itself, if it thinks Joe Biden (or Kamala Harris) can run on fixing the economy it broke. Also, didn't Democrats insist that this would all be solved by passing the Inflation Reduction Act? Seems that didn't work as advertised, which we knew all along.

What's the real solution? Roth acknowledged that Twitter posts aren't the best format to lay out complex answers on economics, but I think she nailed it with just a few bullet points:

Taking an insanely complex q and trying to boil down a few key points, they need to reduce govt spending (offset by embracing pro-growth policy) and the Fed needs to cut rates- not so much to massively change behaviors, but to give the debt financing some breathing room
— Carol Roth (@caroljsroth) July 3, 2024

She wrote:

Taking an insanely complex q and trying to boil down a few key points, they need to reduce govt spending (offset by embracing pro-growth policy) and the Fed needs to cut rates- not so much to massively change behaviors, but to give the debt financing some breathing room

Since these are common sense conservative-libertarian prescriptions, it's highly unlikely Biden and Co. will follow them. Yet one more reason to make sure everyone you know gets to the polls in November to evict the people who apparently don't know the first thing about capitalism or how to run a healthy economy.