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President Joe Biden has no solutions for inflation or the burgeoning energy crisis gripping the U.S., and appears content to commence a “permanent recession” in pursuit of far-left green energy goals, former Trump economic adviser and Fox Business host Larry Kudlow said Tuesday.
Earlier Tuesday, Biden wrote a lengthy op-ed in the Wall Street Journal outlining what he called his “plan for fighting inflation.”
Kudlow rejected Biden’s column, telling Fox News though it was the “talk of the town,” it had no new anti-inflation plan.
“It had nothing. I mean, what he’s setting us up here is for his vision, this woke vision of a fossil-free economy, which is going to do enormous damage to the economy,” he said.
The Biden administration announced this week that a Disinformation Governance Board has been created to combat online disinformation. (AP Photo/Carolyn Kaster, File)
“It’ll put it in a permanent recession. It’ll cause millions of job losses and rising unemployment. And, of course, as you can see, the gas prices and the diesel prices and the world oil price [has] gone back to $120 [per barrel]. So inflation is going to rage.”
In recent weeks, Biden has reportedly canceled new oil speculation leases on federal land, tightening an already volatile oil market, while global shortages of urea spell trouble for sectors utilizing fertilizer and DEF – diesel exhaust fluid, requisite in big rig engines 2010 and younger.
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An oil pumpjack operates in the drive-thru area of a McDonald’s in Bradford, Pennsylvania. REUTERS/Brendan McDermid
“He had no plan today. He wants fossil free. He knows it’s going to cause a recession. And I don’t think they care,” Kudlow continued.
Kudlow said Biden sees a transition to fossil-fuel-free energy as paramount and is willing to let the American people suffer all tangential consequences in pursuit of his goal.
“[I]t’s a ‘transition’ to a recession,” he said. “And they’re trying to sugarcoat it and people are going to see right through it.”
Laying out part of his own plan to end inflation, Kudlow called for freezing domestic spending, cutting tax rates relevant to supply-side economic growth, reopen the Trump-era domestic energy speculation areas, and stop the socialistic “price controls” being considered on the left wing.
Source: www.foxnews.com