Ukraine Gives Biden, Congress Another Excuse to Spend More

NEWSMAX:

President Joe Biden’s “maskless” State of the Union signifies the near-end of the COVID-19 tyranny we’ve lived under for the past two years.

Fortunately for Congress, the president, and the Federal Reserve, the Ukraine-Russia conflict is replacing COVID-19 as a ready-made excuse for their failures and a justification for expanding their power.

Even before politicians began declaring the end of the pandemic, polls showed that rising prices were the people’s top concern — particularly the increase in gas prices.

Since Russia is one of the world’s leading energy producers, sanctions imposed on Russia, as well as Germany’s decision (made under pressure from the U.S.) to shut down the Nord Stream 2 pipeline, provide a convenient excuse for rising gas prices.

This is the case even though the U.S., citing the “instability” in global energy markets created by the Russian-Ukraine conflict, has yet to officially ban imports of Russian oil.

The Federal Reserve has been planning several interest rate increases this year, even though some fear that rate increases could decrease growth and increase unemployment.

The Russian crisis allows the Fed to either postpone rate increases or blame Russia for any unemployment that accompanies the rate increases.

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