On Friday’s broadcast of Fox News Radio’s “Guy Benson Show,” Sen. Ted Cruz (R-TX) mocked President Joe Biden and Democrats for blaming inflation, particularly in gas prices on price gouging by stating that in order to buy that excuse, you’d have to believe companies didn’t want to earn profits during any other presidency, but when Biden came into office, they decided to make profits by gouging.
Cruz stated, [relevant remarks begin around 6:10] “It is very much self-inflicted. And, unfortunately, we’re seeing, right now, shameless demagoguery. If you look at inflation, inflation writ large is always caused by one thing, and that is the government spending too much money, borrowing too much money, and printing too much money. And when you have what we’ve had the last year-and-a-half, which is trillions and trillions of dollars in a wild spending spree, the effect is what we’re seeing, inflation across the board. … Now the amazing thing, Guy, Joe Biden campaigned, when he was campaigning for President, he campaigned promising to do exactly this, he said he would end oil and gas drilling both onshore and offshore on federal lands, that he would shut it down. He promised the radical environmentalists he would use executive orders and regulations to implement the Green New Deal and to hammer oil and gas production. And that is a promise that he is committed to. He has hammered oil and gas production, including, critically, putting enormous new burdens for producers to get either debt financing or equity financing.”
He added, “And he’s counting on the dishonest corporate media to repeat his silly lies that it’s the local neighborhood gas station owner that just magically decided, you know, $5 a gallon is what I’d like to charge. Apparently, the big, bad oil companies, they didn’t want to make profits when Donald Trump was President. They didn’t want to make profits when anyone else was president. It’s just when Joe Biden became President, they said, hot diggity damn, let’s make us some money.”
Follow Ian Hanchett on Twitter @IanHanchett