Joe Biden’s presidency is in freefall and he knows it.
The Democrat Media Complex is working overtime to smooth over his obvious failures.
Now, Jen Psaki blamed Biden’s economic failures on something that will have you rolling your eyes.
White House Press Secretary Jen Psaki did some unbelievable tap-dancing as the lead propagandist for the Biden administration.
Americans are feeling the pinch from Biden’s economy, but Psaki blamed meat companies for the rise in prices.
After being teed up a softball question during a press briefing, Psaki said:
“Just four large conglomerates control the majority of the market for beef, pork, and poultry products, and the data show … that there have been increases in meat prices while the companies have generated recent record profits.”
First, government regulation is a major reason why large conglomerates were able to corner the market.
Burdensome regulations make it harder for smaller companies to compete.
Second, the price of meat is not increasing because companies are price-gouging.
In reality, inflation has hit a 40-year high thanks to massive government spending from the Biden administration.
Supply chains have also been disrupted because of Democrats’ insistence on keeping the economy shut down due to COVID and paying people to stay home.
“It certainly shouldn’t work that way…As the President said many times, capitalism without competition isn’t capitalism, it’s exploitation. And we have continued concern about the lack of competition in these industries.”
But the government is the problem.
The government creates market distortions and disruptions that affect everyday Americans.
Then politicians swoop in and promise to fix the problem with more regulations that caused the problem in the first place.
Thanks to a softball from Bloomberg's Jordan Fabian, Jen Psaki reiterates that meat and poultry companies are the reason why we've seen such a skyrocketing rise in the price of beef, chicken, and pork at the grocery store. pic.twitter.com/pp8U9JoSQc
— Curtis Houck (@CurtisHouck) February 8, 2022
Psaki’s words mirrored those of far-left Senator Elizabeth Warren who said last year:
“Lack of competition in the poultry industry is allowing these massive companies to squeeze both American consumers and farmers to fuel record corporate profits and payouts to shareholders…When companies have monopoly power as massive suppliers, they can jack up prices of the goods they sell.”
Like Psaki, Warren is ignoring the fact that the government creates monopolies through regulation.
Also, inflation and supply chain issues are causing price increases.
The proof is that other industries with more market competition are also raising prices to combat the serious problem of inflation.
If the Biden administration wants prices to come down, it needs to stop meddling with the economy and keeping interest rates artificially low.
Stay tuned to Right News Wire for more updates to this ongoing story.