Treasury Secretary Janet Yellen said on Tuesday that the Biden administration has exhausted efforts to cut energy costs for American citizens.
Gasoline rose to a record $4.91 per gallon on Tuesday. Prices have more than doubled since former President Donald Trump left office.
Speaking before the Senate Finance Committee, Yellen said the administration is “doing everything possible” to lower energy prices.
Yellen didn’t mention Biden’s war on American energy, which included increasing private and public spending to finance oil drilling, halting drilling on public lands, and canceling the Keystone pipeline.
Instead, Yellen said the increases in energy prices were due to the coronavirus and the war in Ukraine.
“We are currently facing macroeconomic challenges, including unsustainable levels of inflation and disruptions caused by the impact of the pandemic on supply chains, and headwinds associated with the impact of supply-side disruptions. Russia’s war with Ukraine,” Yellen said.
Treasury Secretary Janet Yellen admitted that Biden has no plans to lower gas prices: “the administration has done everything it can.”
Gas prices have more than doubled since Biden took office. pic.twitter.com/5lFHIcqwQ1
– RNA Research (@RNCResearch) June 7, 2022
Yellen also admitted last week that she and the president could not accurately predict inflation to hit a 40-year high. “I think I was wrong about the course of inflation,” he said.
According to Bloomberg, inflation will cost US households an average of $5,200 in 2022, or an additional $433 per month. The BMO Index of Real Financial Progress survey showed that inflation will also delay the retirement of 25 percent of Americans.
Subscribe to Wendell Husebø at excitement Gettr is at @WendellHusebø. Author of The Slave Moral Policy.
Source: Breitbart
