Joe Biden and his political allies are dumbfounded after the media defied their radical agenda

Photo by Gage Skidmore, CC BY-SA 2.0, via Flickr, https://creativecommons.org/licenses/by-sa/2.0/

Joe Biden and his allies like to pretend that their economic policies have worked. 

Cherry-picking misleading economic statistics and presenting them to the American public as irrefutable facts have become the cornerstone of their campaign strategy. 

But Joe Biden and his political allies are dumbfounded after the media defied their radical agenda. 

CNBC just silenced the Biden administration with this damning report

With Election Day looming, Joe Biden and his allies have made bolstering his administration’s questionable economic record a top priority. 

Although recent jobs reports show some growth, which many economic experts question, inflation remains high given the consistently rising price of goods and services. 

Prices have gotten so out of control that even many Democrats no longer deny these increases.

However, some have decided to blame companies for these price hikes. 

Last Thursday on CNBC’s Last Call, host Brian Sullivan denied these unfounded allegations from the Left, particularly putting a spotlight on the so-called Price Gouging Prevention Act, which has gained steam in the United States Senate. 

As Sullivan pointed out, the so-called Price Gouging Prevention Act, which so far has the support of radical Democrats like Bob Casey of Pennsylvania, Elizabeth Warren of Massachusetts, and Tammy Baldwin of Wisconsin, aims to punish companies for raising prices, which these Democrats falsely blame for rising inflation. 

“So, is it true that big companies are trying to actually make more money post-pandemic?” Sullivan said. “Well, listen, it’s — frankly, it’s impossible to know overall. There are hundreds of thousands of companies, big and small, across America, but we did look at two of the biggest public companies in their respective sector: Procter & Gamble, which makes all kinds of household goods, and Coca-Cola, which makes soda and stuff like that. 

“We compared fiscal year 2019, that is pre-pandemic, of course, gross margins, to 2023 margins,” he added. “PG&E’s margins actually declined a bit. Coca-Cola did as well compared to 2019. Of course, these are just a couple of examples. And, let’s be clear, there are no doubt many big, bad actors out there. But this bill seeks to stop the practice by empowering the FTC and states to enforce a ban against grossly excessive price increases regardless of a seller’s position on a supply chain.”

The radical Left will do anything to avoid responsibility for out-of-control inflation

As Sullivan explained, many companies, particularly large companies, have seen lower margins, meaning that the Left’s argument that corporate greed has caused inflation does not hold up. 

With this in mind, many wonder why Senators like Elizabeth Warren would support such a bill.  

Sullivan explains why, saying that “there’s also one little added detail in this bill. It would give an extra $1 billion to the Federal Trade Commission to fund the effort to fight price hikes. If you’ve ever wondered why half the richest counties in America are those surrounding Washington, D.C., that’s probably part of it.”

Instead of taking even an ounce of responsibility for fueling inflation with their out-of-control spending bills, Democrats have relentlessly pursued legislation that attempts to flip the blame on corporate America. 

Patriot Political will keep you up-to-date on any developments to this ongoing story.