Federal Agency Confirms Biden to Blame for Inflation, Not Putin

Gage Skidmore from Peoria, AZ, United States of America

The Congressional Budget Office (CBO) has confirmed that President Biden is squarely to blame for rising inflation.

The CBO’s annual economic outlook reinforced claims from former President Obama National Economic Council director, Larry Summers, and Council of Economic Advisers Chairman Jason Furman that Biden is to blame for record-high inflation rates.

The Washington Examiner reports:

Like Summers and Furman, the CBO noted that the stimulus checks sent to every family significantly boosted demand, causing inflationary pressure on its own. But there’s more. By paying workers not to work, Biden’s COVID stimulus artificially “slowed the recovery of labor force participation.” As noted by Texas Rep. Kevin Brady, the top Republican on the Ways and Means Committee, this lack of workers strained supply chains, thus providing a second source of upward pressure on prices.

The CBO predicts that this Biden-caused inflation will persist into next year, tempered only by the Federal Reserve’s willingness to raise interest rates, which will, in turn, cause the economy to slow or even contract.

Biden wants to make the economic situation worse by repealing the 2017 Tax Cuts and Jobs Act. Speaking of which, the CBO report also confirms that former President Donald Trump’s signature tax bill has been a boon both to the economy and to government coffers. According to the CBO, federal corporate income tax collections in 2017, before the rate cut, came in at$297 billion. By 2021, they had jumped to $372 billion — a 25% increase in just four years, which significantly outpaces inflationary growth and also amounts to a larger percentage of the overall economy.

Far from starving the government, the Tax Cuts and Jobs Act generated so much economic growth that the entire bill has apparently paid for itself, even after controlling for the other economic factors that may have played a role. A rising payroll tax and individual income tax revenues also show that the tax cuts boosted job growth and wages as well. The CBO says that even with lower rates,total revenues in 2022 “are projected to equal 19.6 percent of the nation’s gross domestic product — the largest annual revenues relative to the size of the economy since 2000.” This is 2.3% higher than the average of the past 50 years, which includes a period in which the top income tax rate was 70%.

This means that today’s high deficits are the result not of too little revenue but of too much spending.



  1. This piece of nothing that some of us know as Mr. President has got to go. Never in my life have I seen someone screw up this country in the short time he did it in. I’m sorry President Carter, I thought you were the worse.

    1. Agreed! This whole Democrat lawless administration need to go. They have, and strive every day to destroy our country. Open borders, crime, crocked FBI, DOJ, no laws apply to Clinton and constituents.

  2. Over spending – what’s new? Democrats and Rinos alike have made an art form out of spending.

  3. JB, the destroyer of our (WE THE PEOPLE) United States…He is the evil that exists in our government along with the FBI, DOJ, CIA…..

  4. Every person in the United States(if truthful) has known WHO is responsible for these high prices. It sure isn’t Putin but the idiot in the WH. He hasn’t done anything other than increase prices and explode gas prices. His green deal with no plan for altiment programs shows what a nutjob he really is!!!!

  5. When the Supreme court found out that the election was fraud and they knew that they heard 23 cases from obamand some of them was cases on fraud the same as Donald Trump supporters filed in his name and the Supreme court refused to hear every one of them and upon their own motions they could have revived the fraud cases and never did only shows Bias and Prejudice against Donald Trump, it is a sorry day for america watching this court allowing Biden to continue to be president knowing the number of fraud cases shown in the states for biden to win and on Absentee Ballots, the High court is not the vergin court we believed it was ad should be replaced one and all it is all the wrong doing of the Supreme court for the inflation and the Illegal Aliens coming into our country and so many other issues there is no more trust in the Supreme court for any political decision, they are Liars and manipulates and deceiver to the Public, there is no way the Supreme Court can be trusted

  6. it is time for the militia and the Military to come into action and hang every one of these judges who voluntary removed Donald Trump from the Officer in charge of America, I am sure He would never have allowed Putnam to go this far as he is already dead according to the IC6 and his double is running the country from a few old evil people that want russia back to what it was over 20 years ago, we are looking at complete annihilation of this world with a nuclear attack, wake up people we need our military to remove the commander in chief as, biden has been shown not to be the President of the United States. Donald Trump is and always was

Comment

Your email address will not be published.

By submitting this form, I hereby consent to TrumpTrainNews.com's Terms of Use and Privacy Policy, which permits TrumpTrainNews.com and its affiliates to contact me.