Musk and Bezos, World’s Two Richest Men, Agree that Biden Spent His Way to Our Soaring Inflation
By Yehudit Garmaise
President Joe Biden last week blamed the country’s highest inflation rates in 40 years on the pandemic, wealthy corporations, and Russia’s invasion of Ukraine, however, Jeff Bezos and Elon Musk aren’t buying his finger-pointing.
Bezos, Amazon’s founder, and Musk, the CEO of Tesla and SpaceX, agree that what is to blame for soaring costs is Biden's March 2021 $1.9 trillion package of stimulus and relief proposals that sparked a nationwide frenzy of governmental spending, which causes consumers' demands for goods and services to increase, which, in turn, causes prices to rise.
Although President Biden denies any blame for ever-rising costs, his encouragement for state and city officials to spend federal money like water is responsible for Americans’ eye-popping receipts at stores nationwide, according to Musk and Bezos, the world’s two richest men.
When Sen. Bernie Sanders and most Democrats in Congress wanted to add to their $1 trillion infrastructure bill: an additional $3.5 trillion spending bill to “fight climate change and expand American’ social safety net,” only Sen Joe Manchin (WV-D) and US Rep. Jared Golden (D-Maine) voiced opposition last fall.
Before the Democrats compromised by combining the two outsize spending bills into one $1.7 trillion infrastructure bill last Fall, Sen. Manchin was the only Democrat in Senate to demand, “why Congress chooses to ignore the serious effects inflation and debt have on existing government programs.”
In contrast to the restrained spending that would be required for the reduction of the American deficit for which Biden recently took credit, Bezos tweeted that “In fact, the administration tried hard to inject even more stimulus money into an already over-heated, inflationary economy, and only Manchin saved them from themselves.
“Inflation is a regressive tax that most hurts the least affluent.”