According to CNBC, inflation has surged to the highest levels in more than 30 years. Consumer prices have jumped 6.2% in October. CNBC also reports that gas prices are at a 7-year high. Supply chain problems are rampant, with shipping vessels carrying vital supplies loitering outside California ports and unable to offload due to worker shortages.
American consumers and families are beginning to feel the financial pinch from these problems.
While these developments are concerning enough, the national debt stands at more than $28 trillion. President Biden’s plan is to spend more – a lot more – in order to enact his social, climate, and infrastructure agenda. The so-called “Build Back Better” plan.
But this plan will not build back better. It will make inflation worse, increase the national debt, make energy more expensive, and hurt the least fortunate the worst.
It’s why CFACT is launching its new “Build Back Bankrupt” campaign – to educate the public on these issues that this agenda is not making us better, it will make us bankrupt. Students will hand out flyers and fake “Monopoly-style” money as part of the campaign, to show that if Biden and the Left get their entire agenda enacted, our money will be worth no more than fake Monopoly money.
The cornerstones of Biden’s economic agenda are the $1 trillion infrastructure bill that just passed Congress, the larger social and climate bill that’s being debated in Congress, and the litany of regulations and executive orders Biden has pushed. His claim is that these policies will “reduce these bottlenecks, and make goods more available and less costly.”
Yet according to the Wall Street Journal, solving these issues is not going to be like waving a magic wand. “But some of the benefits [of Biden’s plan] are years away, and the near-term impact could be to aggravate inflation. In their early years both plans [infrastructure and social spending bill] add to the deficit…”
Many of the executive orders in Biden’s agenda have hamstrung American energy independence. Particularly damaging have been those halting the Keystone XL Pipeline, rejoining the awful Paris Climate Accord, halting new oil and gas leases on federal lands and waters (this was reversed by a federal judge, but the damage was done for a time), increasing the price to produce energy through something called the “social cost of carbon,” and many more regulations. America has gone from being a net energy exporter for the first time since the Harry Truman administration in 2020, to now Biden’s administration begging OPEC (the Organization of the Petroleum Exporting Countries) to increase supply to ease gas price hikes. Many of the nations that are a part of OPEC are not particularly friendly to the United States (think Russia and the Middle East).
When the government enacts costly regulations on energy producers and job creators, spends like a drunken sailor to increase the deficit, and keeps borrowing money to keep the scam going, Americans’ purchasing power will be less. The dollar will be worth less, and inflation will become worse.
Join CFACT today, and let’s expose the Build Back Better agenda as really meaning “Build Back Bankrupt.”
If you’d like to put together a fake money Build Back Bankrupt campaign at your school, email [email protected]