Christmas classics might be a lot different if they had been written during President Joe Biden’s administration.
On Tuesday, the White House admitted that shortages will get worse. “There will be things that people can’t get” at Christmas, a senior White House official told Reuters.
’Twas the night before Christmas, when all through the house
Not a creature was stirring, not even a mouse;
No stockings were hung by the chimney with care,
A supply shortage had kept them from being there.
One of those items may be your Christmas tree. The American Christmas Tree Association warned consumers last month that both live and artificial trees will be in short supply this year. It blamed a heat wave in the Pacific Northwest and supply chain backlogs at the ports.
Oh Christmas tree, oh Christmas tree, Thy leaves are so hard to find.
On Wednesday, Biden held a news conference to address supply chain bottlenecks. He acknowledged it’s hard to buy items ranging from “a toaster to sneakers to bicycles to bedroom furniture” and said he had signed an executive order addressing the issue in February. But if the order had been effective, his news conference wouldn’t have been necessary. His big news is that the Port of Los Angeles will now be operating 24 hours a day. That sounds great, but “it will accomplish zero,” Craig Grossgart, senior vice president for global ocean at SEKO Logistics, told the Washington Post. “It’s just window dressing.”
Come they told me
pa rum pum pum pum
Backed up ships to see
pa rum pum pum pum
A severe dearth of truck drivers is contributing to the problems. There’s no easy short-term solution. Driving a truck long distances is grueling, lonely work. Some truck drivers use the higher pay they’re getting now to take more time off. But Biden’s decision in March to expand unemployment benefits and send out $1,400 checks didn’t increase the incentive to work.
Santa Baby, just slip a truck under the tree, for me.
Energy prices are soaring, too. Gasoline prices have jumped more than $1 per gallon from last October. The government also anticipates that natural gas heating bills will be 30 percent higher than last year. Many factors influence energy prices, but Biden’s efforts to regulate fossil fuels out of existence have had an effect.
The heat is turned way down low.
Don’t let it snow. Don’t let it snow. Don’t let it snow.
The labor market is anemic. The number of people employed or looking for work is 3.1 million people lower than before the pandemic. In September, employers added 194,000 jobs, but 183,000 people left the labor force. Not great.
The cumulative effect is soaring inflation. On Wednesday, the Bureau of Labor Statistics reported that consumer prices were up 5.4 percent over the previous 12 months. For months, political leaders assured the public that inflation would be fleeting. In July, Biden said he expected price increases “to be temporary.”
Nope. On Tuesday, an IMF report said the Federal Reserve needs to be “prepared to act quickly” to fight inflation.
Have yourself a merry little Christmas.
Let your heart be light,
From now on your prices
Will be out of sight.
Biden’s signature legislative efforts would make all this worse. The $3.5 trillion spending package pushed by progressive Democrats would further erode the incentive to work and remove money from the more productive private sector. Stagflation would be a real possibility.
Perhaps Biden is shooting for a leading role in Dr. Seuss’ classic.
How Joe Biden stole Christmas.
Contact Victor Joecks at email@example.com or 702-383-4698. Follow @victorjoecks on Twitter.