The Biden administration has ignored all the warning signs about the economy so far. But now it might be too late to course correct.
Because Joe Biden just put America at risk with this one dangerous move.
Everyone knows that the Joe Biden administration has brought insane inflation in several critical economic sectors.
One of the most concerning sectors that are been inflating like crazy is the gas industry.
In March this year, gas prices started to skyrocket, reaching unprecedented levels in some areas of the country and a new average high of $5/gallon.
It was hurting the American people and their ability to support their families financially.
While gas is not at an average of $5/gallon anymore, it’s still at a super high $3.80 average as of today.
That’s still magnitudes higher than the averages during the Trump administration.
The way Joe Biden brought down the prices was entirely artificial. The Biden admin started releasing oil from the U.S. oil reserves that are intended for emergencies.
He and the Democrats made this decision because his approval ratings were tanking faster and flirting with the 20s.
And they knew they would be in trouble come election time with all-time high gas prices.
But the release of oil reserves has its consequences. And the Biden admin just hit a disgraceful milestone.
According to reports, the U.S. Strategic Petroleum Reserve reached new lows not seen since 1984.
America’s oil reserve has shrunk to its lowest level since 1984 under President Joe Biden, reports Axios.
Biden in mid-October announced that he would authorize the release of 15 million barrels of oil from the Strategic Petroleum Reserve as a way to bring down gas prices, a move some Republicans called “dangerous” and said places the United States at great risk.
It’s blatantly obvious that the Biden administration is draining America’s oil reserves to save face before voters go Republican at the ballot box at levels unseen in recent years.
Though it seems this move is only partially working. While Biden’s approval ratings have somewhat improved since this summer, they are still well underwater hanging out somewhere around the high 30s.
And the Republicans are now favored to win back both the U.S. House and the Senate in just a few days.
Some Republicans have called for accountability of the Biden administration and argued he could be impeached for such dangerous political moves.
The Federalist Wire will keep you up-to-date on this story.