Republicans Have No Plan To Reduce Inflation

Republican are whining about inflation, and they would like you to think that it is all the fault of President Biden. They want you to believe they can magically fix inflation if given the reins of power.

First, President Biden must be doing something right. Many other countries have a higher inflation rate than the United States, including many of our European allies (chart is from trading economics.com).

Second, do the Republicans have a solution for inflation. If they do, they are certainly keeping it a secret.

So far, they have told us only two things they will do if returned to power. They will cut taxes for the rich and corporations again. That will do nothing to reduce inflation. In fact, much of this inflation is because corporations are needlessly raising prices, even though they are currently making the biggest profits in the last 50 years. It is price-gouging of consumers -- and Republicans will do nothing to stop it.

They have also said they will cut funding for Social Security and Medicare. They have said they will force those cuts by refusing to raise the debt limit and forcing the United States into default. That will not help reduce inflation.

If they succeed, seniors will be hurt -- many of whom have only Social Security to depend on, and are already suffering from inflation. If they don't succeed, trashing the economy by defaulting on the debt will make life harder for all Americans.

The truth is that Republicans have no plan for reducing inflation. And the plans they do have will just make things worse for the citizens already suffering.