OUT ON A LIMB: Biden’s energy policy is sending us toward recession.
With the travel-heavy Memorial Day weekend upon us, the fast-rising cost of gasoline is getting a lot of attention.
Last week, gasoline rose above $4 a gallon in all fifty states. That’s the first time that has happened. Some are predicting gas could reach $6 a gallon this summer. If that comes to pass, the average American family could see a major impact on their budgets.
(It might be noted as well, that the price of home heating oil has nearly doubled this year. If that continues, the economic impact next winter, especially in the northeast, where a high percentage of homes are heated by oil, will be considerable.)
The threat of a recession is rising thanks to fuel shortages.
Why has the price of gasoline risen so far so fast? Easy: the Biden administration, driven by the ideological fantasy of a green-energy future, has hampered domestic production and exploration at every turn.
How bad has it gotten? Even CNN has noticed, John Nolte writes: CNN Admits ‘It’s Time to Prepare for a Recession.’
Anyway, the news we’re heading into a recession is old news. The real news here is this…
Biden has so mishandled the economy, so devastated America with his disastrous domestic policies, that not even CNN can pretend it’s not happening or happy-talk past that fact.
But this was inevitable.
Why?
Because this is the inevitable outcome of leftism.
Obamacare exploded our health costs.
Left-wing environmental policies (based on what everyone knows is a hoax) ensure Americans do not have enough energy, water, or food.
Left-wing energy policies, by design, explode the cost of energy.
Left-wing regulations cripple the private sector.
Higher taxes slow the economy.
Profligate spending creates inflation.
Social Justice pours violent criminals into the streets.
Or as Glenn asks in his latest New York Post column, “So does the Biden administration actually want to see middle-class Americans reduced to poverty and privation? Or is it just too stupid to foresee the obvious consequences of its own actions? At this point, I’m not even sure which is worse. But with the midterms coming, no amount of talk about gun control, abortion or other Democratic hot-button issues is going to distract Americans from what’s happening to their pocketbooks. Good.”