The co-founder of Dwelling Depot stated President Biden is doing a worse job than the gold normal of Democratic presidential failure.
Ken Langone stated in an interview on Fox Information Channel’s “Your World with Neil Cavuto” that Mr. Biden is “worse than Jimmy Carter” in his dealing with of inflation and the financial system.
Mr. Carter’s presidency got here undone within the wake of double-digit inflation and vitality crises in 1979 and 1980, paving the way in which for Republican Ronald Reagan’s 44-state landslide in 1980.
Mr. Langone, who started his firm within the Carter stagflation period, stated the Biden administration is at fault for at this time’s inflation woes as a result of it refused to see issues from its spending and vitality insurance policies, dismissing rising costs as transitory.
“This was not transitory. This was an actual severe case of inflation. We misplaced a complete yr on addressing the difficulty. Solely as a result of, frankly, we now have management at this time in America that isn’t keen to confess once they’re improper. They made a horrible blunder right here, and now the value has bought to be paid,” Mr. Langone stated.
He additionally blasted Mr. Biden’s first-day closure of the Keystone XL pipeline and his blaming the vitality firms for $120-per-barrel oil, gasoline that usually tops $5 a gallon, and the ensuing ripple results on each product’s worth.
“The opposite factor is we’ve exacerbated the issue. For instance, the vitality concern in America, we didn’t must be poor like we’re. Hell, by now, that pipeline would have been nearly full,” he stated.
“Biden’s now saying, he’s blaming the oil firms. This can be a shame. The oil firms are reacting to produce and demand … It’s completely improper,” he continued.
Earlier this week, the Labor Division reported an inflation charge of 8.5%, the very best charge since 1981. That determine, which got here throughout Reagan’s presidency, truly mirrored a restoration from the Carter inflation, which peaked at 14.6% in March and April of 1980.
