Joe Biden keeps insisting Vladimir Putin is to blame for all the awful things going on in the United States economy. Biden also insists on saying his government is good and the country’s economy is doing very well.
So, which is it? Are we doing great or are we doing bad and Putin’s to blame? A bit of both? Did somebody say a double scoop of ice cream?
Oops, I fell off my bike. Though in the midst of this clown show, Biden has come up with the proposal of suspending the gas tax for three months.
How much would this help?
Gas Tax Holiday?
Biden’s latest brilliant proposal to gain more sympathy and clean some of the spilled milk is all about letting up on consumers at the pumps. Biden suggested a three-month gas tax break.
This is far from a solution; the lower revenue just makes his heavy spending even more worrisome.
In the short term, this could be good for those who have no choice but to drive; although in the long term, it’s nothing but a distraction.
What about the price of gasoline? On average, the cost per gallon currently exceeds $5.00. Signs of $7.11 per gallon gas at 7/11 have been making the rounds.
Many Democrats even say Biden’s plan doesn’t really make sense. Pete DeFazio, chairman of the House Transportation and Infrastructure Committee, said Biden’s proposal is terrible.
As left-leaning commentator Sagar Enjeti says, this is “idiocracy” that will do nothing to solve our issues.
Biden had a year to develop a plan on lowering gas prices. He settled on a temporary gas tax holiday which if enacted would almost certainly increase the price of gas, enrich the oil companies, and do nothing about our supply problems. Idiocracy
— Saagar Enjeti (@esaagar) June 22, 2022
Theory vs. Practice: a ‘Gimmick’
Biden’s favorite buddy, Barack Obama, previously called gas tax holidays a gimmick that doesn’t actually fix the issue. For once, he was right.
It may seem like something well-intentioned, but it doesn’t apply in practice.
If the proposal were to be approved, it would do huge damage to the Road Investment Fund, which would no longer raise more than $10 billion that helps keep our roads in shape.
Also, it would have a direct impact on infrastructure projects.
In response, Biden said such a fundraiser should be obtained by other means. Though he didn’t say which ones, for example. It sounds like more heavy spending bills and more inflation to me, which cancels any good from a break on gas taxes.
Nancy Pelosi, the Speaker of the House of Representatives, seems to have had a moment of lucidity and went against Biden. She explained approving such a proposed gas tax break would not bring real benefits to consumers or even to the country’s economy.
Democratic Senator Joe Manchin has also shown common sense to say he is also against it and this will only add to the hole in the budget.
In 2008, Barack Obama bashed a “gas tax holiday” as a “gimmick.”
“For us to suggest 30 cents a day for three months is real relief, that that’s a real energy policy, means that we are not tackling the problem that has to be tackled.” pic.twitter.com/vUziTflOnb
— RNC Research (@RNCResearch) June 22, 2022
The Bottom Line
What really matters is Biden is once again incompetent and confused about what to prioritize, how to improve the US economy, and not take it even deeper into the hole.
If he continues to be reckless, Biden could cause a widespread blackout in this country.