Biden Takes Friendly Inflation Fire from Democrat Who Proposes Hare-Brained, Big Government Response
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to recent comments by Rep. Ro Khanna (D-CA), including on today’s America Reports, that President Biden must do more to address inflation:
“President Biden’s lackluster and counterproductive response to runaway inflation is now being criticized by members of his own party, including over the last several days by Rep. Ro Khanna. Bipartisan criticism of high inflation demonstrates once again what a massive problem skyrocketing prices are for ordinary families and small businesses.
However, Rep. Khanna’s hare-brained inflation cure would be worse than the disease. He wants the federal government to begin managing supplies of basic goods like food and energy by purchasing them on global markets. In a recent New York Times op-ed, Khanna calls on the Department of Agriculture to “purchase essential food products on the global market during significant price dips, which often occur multiple times a month or even every week, and resell them cheaply to Americans.”
When you’re a hammer, everything you see is a nail, and when you’re a Democrat, the answer to every problem is more big government. This unconstitutional, socialist proposal would at best be a massive boondoggle and at worst exacerbate supply-chain disruptions. The government can’t even manage the Post Office, let alone try to arbitrage food and fuel prices. Even the world’s best macroeconomic traders have difficulty timing commodities markets. There’s no way Mayor Pete and the rest of Biden’s feckless cabinet could succeed at this scheme.
Yet Khanna is correct that a bolder response to inflation is needed. The solution should center on dramatically increasing food and energy supplies through deregulation and ending deficit spending that fuels the inflationary fire. Today’s inflation fix must follow basic economic principles, not more FDR cosplay.”