The Financial Times believes President Biden must understand he needs to take responsibility for the inflation that has plaguing the nation.
The London-based publication wrote this: Biden has promised to ābuild back betterā after the coronavirus pandemic. His big spending has already helped to deliver a historic recovery, with US national income back at a level above its pre-pandemic peak. The challenge will now become harder: to demonstrate he can deliver higher living standards without jeopardising his pledge to tackle climate change.
The Financial Times notes as well that President Carter will be marked indelibly by the inflation that consumed his single term in office. Yes, there was that and the Iranian hostage crisis of 1979-81. The Times is correct, though, to project that Biden faces potential defeat in 2024 if he doesn’t sidle up to the issue now before it gets totally out of control.
I am not sure how much of the inflation issue is a direct result of presidential policies. He did inherit that pandemic and the “supply chain” crisis that has developed while the nation seeks to subvert the coronavirus.
It’s happening on President Biden’s watch. He cannot forestall a solution simply by blaming his predecessor.
Let’s get busy, Mr. President.