When Jimmy Carter came into power inflation was 5.7%, by the time he left inflation more than doubled to 13.5%. Now Joe Biden appears to be going down the same track.
Massive government spending and a stimulative monetary policy was the heart and soul of the Carter regime and now Biden’s regime is working on doing the same.
Last year the annual inflation rate was less than 1% but Biden’s policies are likely to increase inflation significantly.
In energy the cost of gasoline increased under Carter significantly and this is due to happen under Biden. It will help Russia and the Middle East and not America.
Biden is pushing a $15 minimum wage which will lead to a massive increase in costs. In addition, an increase in regulations and taxes will add to higher prices for all Americans.
Watch a summary of the costs of a Biden economy below: