The country was facing a severe economic crisis in 1974, when Gerald Ford became Vice President. 1973’s Arab oil shocks led to a 300% rise in oil prices, which resulted in an inflation rate of over 12%.
The plan presented to President Ford looked fantastic on paper, at least political. “Whip Inflation now,” or the WIN program was a GOP PR man’s idea for how to reduce high prices. WIN encouraged savings and disciplined spending, in conjunction with public measures like raising interest rates.
It became a Washington joke in just a month — the most disastrous PR strategy ever devised by the White House.
Ford’s attempt to portray inflation as a problem of public relations rather than as an interconnected problem of psychology and economics led to his failure. Ford’s request for public input was met with laughter when it came to mocking some of the suggestions — starting vegetable gardens, carpooling, etc.
Joe Biden is now attempting to launch a PR experiment. He claims that combating climate change will lower inflation and put $500 in the pockets middle-class American families.
In Tuesday’s State of the Union address to Congress, President Joe Biden will urge Congress to revive the stalled climate legislation. He will pitch a package of climate spending and tax credits as a way of fighting inflation and saving the average American family $500 annually.
Biden’s approval ratings are dropping precipitously. Voters are becoming increasingly frustrated with the soaring inflation driven in part by rising energy prices.
According to a senior administration official, Biden is unlikely to present a different legislative vision. Instead, he will describe combating climate change as an integral part of boosting the middle class finances.
Allahpundit was kind enough provide the knockout punch for this bit of nonsense.
Let’s look at that logic. The climate-change package will result in trillions of dollars of off-budget spending. This will require more expansion of the money supply to cover the principal and interest, which will continue into perpetuity. This will mean that Biden will not lift his restrictions on oil leases or oppose the Keystone XL Pipeline, which will continue to push prices up in the US and around the world. This will allow Vladimir Putin and Ali Khameini to continue funding their terrorist/military aggressions. It also means that inflation in the US will continue to rise.
The American people know that Biden could incentivize oil production in the USA and make better use Canada’s surplus. Instead, he’s opting to push for the progressive agenda even though it enriches geopolitical foes while impoverishing working-class Americans. If anyone is paying attention to tonight’s speech, Biden will make it clear that he has made a choice.
Joe Biden is often uncomfortable in his role as chief executive of woke. Although he is not the brightest bulb in a room, he is smart enough to see that climate change legislation won’t enrich anyone and will only lead to higher prices. Biden, a young senator in the Whip Inflation campaign, knows all too well the dangers of framing a topic like inflation as something it isn’t.
Biden will play to the fervent, frothing fanatics of the Democratic Party base, but the Democratic agenda is stuck in neutral. Maybe if he can get the radicals energized, it will be enough for him to prevent an electoral massacre in November.
