During the rise in gas prices, the Biden administration tapped into the strategic petroleum reserve to lower prices and appease angry Americans. This decision may seem contradictory to their climate strategy, but they understand the importance of controlling these numbers to protect their overall goals. However, there is a concerning interpretation that the working class empowerment under Biden's administration has led to pushing price increases onto the middle class, causing them to demand suppression. It's important to consider other factors such as supply chain disruptions, COVID, and geopolitical issues that may contribute to this complex situation.
A lot of Americans are still feeling iffy about the economy, but Joe Biden’s so proud of how things are going that he’s stuck his name on it. The Washington Post’s Jeff Stein explains “Bidenomics.”
This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Michael Raphael, and hosted by Noel King.
Transcript at vox.com/todayexplained
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