Thursday, March 10, 2022
Steele Speaks! "Build Back Better" and Biden, Putin and Gas Prices
Greetings, dear readers! ("We" at Unforeseen Contingencies indeed have readers...for which and to whom I'm truly grateful.)
Today has been a double-publication day for our Blogger-in-Chief, Charles N. Steele.
First, Steele was quoted extensively in a front page article in the Hillsdale Collegian by Elizabeth Troutman on the Biden administration's "Build Back Better" proposal. The gist:
“In short, it is socially and fiscally irresponsible and potentially destructive,” Steele said.
The whole article is definitely worth reading.
Second, I was also quoted in an article in Forbes by Peter Suciu on the Biden administration's claims that Putin is responsible for America's rapidly rising gas prices. After extensively citing Twitter wars on the subject, Suciu turns to an experienced economist to resolve the debate, i.e. yours truly. While I agree that Putin's war and the subsequent prohibitions on Russian exports are a factor...
"There are two primary causes of increasing gasoline prices," added Steele. "The Biden administration has restricted supplies and pursued inflationary policies, and that's the fundamental reason for record high gas prices."
I'm pleased with both interviews. However, one of my favorite lines ended up on the cutting room floor:
"[T]he administration seems to live in a fantasy world where spending $1.75 trillion or more costs nothing. Either they are fools or liars. Those aren't mutually exclusive, of course."
