https://thehill.com/opinion/white-house/3664064-the-west-needs-leadership-biden-has-failed-the-test/
Global economies are in free fall even as inflation runs unchecked. The Western world looks to the president of the United States for leadership; they look in vain.
President Biden has not undertaken the two things that might help the economy here at home and others around the world regain their footing: stop the gusher of cash coming from the federal government and help U.S. oil and gas industries ramp up production to bring down energy prices.
By determining to cut our deficits and drive energy production higher, Biden could immediately signal that he is serious about helping the Federal Reserve fight inflation and willing to buck climate-obsessed progressives in his party in the face of a global emergency.
Currently, he is signaling the exact opposite. While Federal Reserve Chairman Jerome Powell has (finally) undertaken stiff measures to rein in money supply growth, the White House nullifies his efforts by continuing to pump money into the economy as fast as possible.
The latest spending spree from Biden is his plan to cancel student debt, a regressive program estimated by the Congressional Budget Office (CBO) to cost $400 billion. Given that the CBO neglected to cost out parts of the program that could add to the tally, the Committee for a Responsible Government Budget puts the expense at closer to $600 billion.