Jeff Bezos Criticizes Biden Administration on Inflation, Misdirection

Jeff Bezos, the billionaire founder of Amazon, ramped up his criticism of President Joe Biden on May 15, saying that the “misdirection” coming from the White House isn’t helping the country.

Bezos, like many economists, criticized the administration’s attempts to stoke an already overheated economy with further stimulus. He said inflation mostly harms the poor.

“In fact, the administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only [West Virginia Democratic Sen. Joe Manchin saved them from themselves,” he wrote on Twitter. “Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”

The statement from Bezos was in response to a thread on Twitter, in which Biden claimed credit for the reduction of the federal budget deficit.

“Under my predecessor, the deficit increased every single year,” Biden wrote on Twitter on May 14. “This year, we’re on track to cut the deficit by $1.5 trillion—the biggest one-year decline ever. It matters to families, because reducing the deficit is one of the main ways we can ease inflationary pressures.”

However, critics have contended that Biden is distorting reality when he says that he’s directly responsible for the decline in the deficit while, in fact, government expenditures have been decreasing from extremely high levels because of the end of temporary COVID-19 pandemic relief spending.

This is the second time recently that Bezos has criticized the Biden administration. Amazon’s founder earlier criticized a Biden Twitter post over inflation and business taxes…. (Excerpt from The Epoch Times)