President Joe Biden must take responsibility for his role in surging inflation, argues Brad Polumbo of Newsweek. While he is not in control of all factors that led to this situation, he could have done a lot more to prevent it. He has renewed and nominated people to the Federal Reserve that have overseen the printing of trillions of dollars, which was one of the main forces behind inflation. Additionally, Biden exploded the national deficit with his American Rescue Plan, which ballooned national spending. Even liberal economists and pundits recognize what a major policy failure this was. The president needs to stop blaming Russia and take responsibility for the mess he created.
It is wrong to solely blame President Joe Biden for inflation, asserts the St. Louis Post-Dispatch Editorial Board. While the economy and job numbers were recovering from the pandemic under him, the global supply chain was still crippled. The surge in demand for goods without supply dramatically raised prices. Then, Russia invaded Ukraine, causing enormous sanctions that exploded the price of oil and other goods worldwide. Crucial here is that the whole planet is suffering from inflation and rising gas prices like the US. Republicans point the finger at Biden for delaying offshore gas and drilling projects but that only impacts future prices, not the current supply of oil.