Biden lays out plan to fight inflation in Wall Street Journal op-ed
The Wall Street Journal published an op-ed by President Biden on Monday with the headline "My Plan for Fighting Inflation."
Biden began by acknowledging that "Americans are anxious" about inflation, which he said had been "exacerbated" by the war in Ukraine. According to a Gallup poll released Tuesday, Americans' confidence in the economy is at its lowest point since early 2009, when the Great Recession was just reaching its end.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"With the right policies, the U.S. can transition from recovery to stable, steady growth and bring down inflation without giving up all these historic gains," Biden wrote.
To achieve this goal he proposed passing clean energy tax credits to bring down gas prices, improving infrastructure, cracking down on greedy corporations, ramping up housing construction, reducing the cost of child care, and empowering Medicare to negotiate with pharmaceutical companies.
Matt Yglesias of Slow Boring tweeted approvingly that Biden's op-ed was "not a comprehensive solution to everything but certainly points the way to a possible deal on a reconciliation bill."
Brad Polumbo of the libertarian Based Politics had a different interpretation. Biden, Polumbo argued, failed to acknowledge that out-of-control government spending was also behind inflation or that the new spending he proposed would only make things worse.
-
Film reviews: ‘Send Help’ and ‘Private Life’Feature An office doormat is stranded alone with her awful boss and a frazzled therapist turns amateur murder investigator
-
Movies to watch in Februarythe week recommends Time travelers, multiverse hoppers and an Iraqi parable highlight this month’s offerings during the depths of winter
-
ICE’s facial scanning is the tip of the surveillance icebergIN THE SPOTLIGHT Federal troops are increasingly turning to high-tech tracking tools that push the boundaries of personal privacy
-
The ‘mad king’: has Trump finally lost it?Talking Point Rambling speeches, wind turbine obsession, and an ‘unhinged’ letter to Norway’s prime minister have caused concern whether the rest of his term is ‘sustainable’
-
Trump sues IRS for $10B over tax record leaksSpeed Read The president is claiming ‘reputational and financial harm’ from leaks of his tax information between 2018 and 2020
-
Trump, Senate Democrats reach DHS funding dealSpeed Read The deal will fund most of the government through September and the Department of Homeland Security for two weeks
-
Fed holds rates steady, bucking Trump pressureSpeed Read The Federal Reserve voted to keep its benchmark interest rate unchanged
-
Judge slams ICE violations amid growing backlashSpeed Read ‘ICE is not a law unto itself,’ said a federal judge after the agency violated at least 96 court orders
-
Rep. Ilhan Omar attacked with unknown liquidSpeed Read This ‘small agitator isn’t going to intimidate me from doing my work’
-
Democrats pledge Noem impeachment if not firedSpeed Read Trump is publicly defending the Homeland Security secretary
-
The billionaires’ wealth tax: a catastrophe for California?Talking Point Peter Thiel and Larry Page preparing to change state residency
