Fiddling while Rome burns as usual, the President is focused on issues he can appear to change by virtue signaling and bluster.
Take this from the White House Fact Sheet produced last week. He takes a perfectly rational economic response from businesses screwed by the failing purchasing power of the dollar, caused by an inept government, and blames it on corporate greed. Instead of fixing the problem by cutting spending within the arm of the government he controls: the Executive, a bloated bureaucracy filled with overpaid employees with massive welfare and pension benefits directly responsible to POTUS, he fatuously accuses businesses for responding to the market forces he himself created.
WHITE HOUSE FACT SHEET: Standing up for consumers against shrinkflation.
Shrinkflation occurs when companies hide increases in unit prices from consumers by reducing the amount of the product in a package while maintaining or increasing its price. According to the Bureau of Labor Statistics, this sneaky practice is common in consumer goods, including potato chips, paper towels, cereal, cleaning supplies, diapers, and candy. For some products, it is responsible for over 25% of price increases compared to 2019. Even as inflation comes down, companies continue to shrink product sizes to hide price inflation while padding profits. President Biden supports the Shrinkflation Prevention Act of 2024, which would direct the FTC to act against companies that engage in shrinkflation.
The man is shameless. And inept.