The Ben Shapiro Show Ep. 1432 - The Coming Biden Recession
Feb 11, 2022
Soaring inflation hits a 40-year high, raising alarms about the economy under Biden's leadership. As discontent grows, the impact of proposed spending and interest rate hikes comes into focus. The geopolitical climate heats up with Russia's threatening moves toward Ukraine. Critique emerges around vaccine mandates and their effects on employee retention. Protests like the Freedom Convoy illustrate deepening public distrust in pandemic management. Parents push back against progressive educational policies in San Francisco, highlighting a broader dissatisfaction.
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Broadening Impact of Inflation
- Inflation is broadening, impacting goods and services previously unaffected, from groceries and electricity to housing and healthcare.
- Higher prices may lower consumer confidence but won't significantly impact consumer spending, which rose 7.9% in 2021.
Biden's Economic Policies and Inflation
- Biden claims Build Back Better is "fully paid for", but it will require tax increases, borrowing, or both.
- He blames COVID-19 for inflation despite a strong jobs report and other countries with similar supply chain issues having lower inflation.
Manchin's Warning on Inflation
- Senator Joe Manchin warns against more spending, citing the "inflation tax" draining Americans' wages.
- He urges the Federal Reserve to address inflation and advises caution before adding more fuel to the economy.