Joe Biden has put himself in a corner.
His policies have contributed to an economic crisis and he refuses to take necessary measures.
Now Biden is pushing for one economic Hail Mary that has Obama shaking his head.
Inflation has hit a 40-year high under Joe Biden.
Gas prices have been particularly burdensome for the American people.
Instead of promoting more oil and natural gas production, Biden is hoping to rescue his sinking approval numbers by instituting a gas tax holiday for the summer.
Unfortunately for Biden, the tax relief would expire going into the midterms, weakening the Democrats’ election prospects.
And there’s one Democrat that isn’t too fond of the gas tax holiday idea: Barack Obama.
Back in 2008 when he was running for president, Obama decried the idea of the gas tax holiday.
In his 2020 memoir “A Promised Land,” Obama wrote of the 2008 campaign, “[W]e got some help from an unexpected quarter…Gas prices had been skyrocketing [and] nothing got voters in a bad mood like high gas prices.”
CNBC reported that “the eventual Republican presidential nominee that year, Sen. John McCain of Arizona, proposed a temporary suspension of the federal gas tax — just as Biden now is doing — and ‘Hillary immediately endorsed the idea,’ Obama wrote. When Obama’s campaign team asked him what he wanted to say on the issue, ‘I told them I was against it,’ he wrote. ‘While it had some superficial appeal, I knew it would drain an already depleted federal highway fund, leading to fewer infrastructure projects and jobs,’ the former president wrote.”
Obama never met a tax he didn’t like so it’s no surprise he was against the gas tax holiday, but his opposition to the argument completely undercuts Biden’s desperate attempt to invoke it.
Obama called the tax holiday a “gimmick” and continued, “The easiest thing in the world for a politician to do is tell you exactly what you want to hear…It was one of our prouder moments, taking a tough position without the benefit of polls and in the face of pundits who thought we were crazy…We began seeing signs in the polling data that voters were buying our argument.”
If Biden were serious about reducing costs, in addition to the gas tax holiday, he would reduce regulation on the oil and gas industry and stop talking about eliminating fossil fuels.
Biden is trying to fight reality with bandaids like the gas tax holiday.
Stay tuned to Right News Wire for any updates to this ongoing story.