The Biden White House Will Pay for Playing Inflation Games

POLITICS & POLICY
President Joe Biden delivers remarks about global transportation supply chain bottlenecks at the White House in Washington, D.C., October 13, 2021. (Leah Millis/Reuters)
Perhaps Biden, unmoored from economic reality, will tell us that higher energy costs are actually good for the economy.




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E
nergetic retweeter and White House chief of staff Ron Klain recently endorsed the idea that inflation and supply-chain struggles were “high class problems.”

I’m in no position to comment on whether the inflation spike we’re experiencing is “transitory” or not (though, metaphysically speaking, isn’t everything!). Maybe it will be a short-term problem sparked by supply shocks and pent-up post-COVID demand, or maybe inflation will linger for years and become a self-fulfilling prophecy due to expectations. Whatever the case, a president who feels comfortable with taking credit for “creating” millions of jobs after state-compelled shutdowns is likely going to be blamed. You …

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