If you listen to the Biden White House, the economy is in great shape, America is back to work again, and inflation… well, that’s much ado about nothing.
The White House patting itself on the back for what it says is historic economic growth, even as Americans suffer from high gas prices and record inflation, is eerily reminiscent of a 1978 Saturday Night Live sketch featuring Dan Aykroyd as Jimmy Carter talking about inflation.
“Inflation is our friend,” Aykroyd says. “For example, consider this: in the year 2000, if current trends continue, the average blue-collar annual wage in this country will be $568,000. Think what this inflated world of the future will mean. Most Americans will be millionaires. Everyone will feel like a bigshot. Wouldn’t you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would!”
“But what about people on fixed incomes?” he continues. “They have always been the true victims of inflation. That’s why I will present to Congress the ‘Inflation Maintenance Program,’ whereby the U.S. Treasury will make up any inflation-caused losses to direct tax rebates to the public in cash.”
“Then you may say, ‘Won’t that cost a lot of money? Won’t that increase the deficit?’ Sure it will! But so what? We’ll just print more money! We have the papers, we have the mints. I can just call up the Bureau of Engraving and say, ‘Hi! This is Jimmy. Roll out some of them twenties! Print up a couple thousand sheets of those century notes!’ Sure, all these dollars will cause even more inflation, but who cares? Everyone will be a millionaire!”
— Phil Kerpen (@kerpen) December 10, 2021
Earlier this year, a White House official claimed that faster-than-expected inflation was “a good sign” because it meant that “the economy is recovering faster than a lot of people expected.” Biden also claimed this summer that his $4.7 trillion spending plan would help curb inflation.
It was funnier when SNL did it.
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