During a press conference on Wednesday, President Joe Biden refused to answer a reporter’s question about rising consumer prices, simply walking away instead.
The reporter asked the president “should Americans be worried about inflation, sir?” which the president ignored, turning his back and leaving the room.
Joe Biden ignores reporter’s question about whether Americans should be worried about rising prices pic.twitter.com/6lSM5d3Z6f
— RNC Research (@RNCResearch) May 12, 2021
Americans have been suffering under increased fuel prices since March when an announcement from the Organization of Petroleum Exporting Countries said that oil production was slated to decrease.
Saudi Arabia declared that it’s oil production would be turned down by 1 million barrels per day, approximately 1% of the globes total supply.
Rising prices amongst other goods have caused concern about potential inflation in the near future, with near-zero interest rates and astronomical government spending, experts warn that America could experience record levels of inflation.
Chief economist and global strategist Peter Schiff of Euro Pacific Capital said that people should expect in the coming years to be paying higher insurance and utilities, as well as high property and local taxes. He said that the inflation is caused by a government which “spends money that it doesn’t collect in taxes” and then fixes the figures by simply printing the money they don’t have.
Senior fellow of the Ethics and Public Policy Center, Henry Olsen, said that consumers should “expect to see rising prices across the board” and warned that people should ready themselves for rising costs “in virtually all aspects of their life.”
Author: Jacob Bowen