Biden’s Economic Policies Borrow from the Failed Past

One of the funniest of the Internet memes currently circulating shows a picture of President Joe Biden flanked by Democratic congressional leaders who’ve gathered to introduce a new Inflation Reduction Act to bring down the inflation caused by the Inflation Reduction Act passed in August.

It’s funny, not because it’s true, but because it illuminates the complete economic ignorance of Biden and his party. At a meeting of the White House Competition Council last week, Biden fumed:

My message is simple. To the companies running gas stations and setting those prices at the pump: Bring down the prices you’re charging at the pump to reflect the cost you pay for the product. . . . It is going to save people a lot of money.

Biden’s rant against 7-Eleven store owners only reinforces the scary reality that we are now a year and a half into the worst inflation wave since the 1970s. This administration has no clue how to bring down prices. Biden now wants price controls on oil, gas stations, credit-card companies, banks, health care, and pharmaceuticals. And that’s just for starters.