Sen. Ted Cruz (R-TX) wasted no words as he lambasted Vice President Kamala Harris’ new economic plan this week. On his podcast “Verdict,” Cruz compared Harris’ approach to something reminiscent of the old Soviet Union, which he wasn’t using lightly.
So what’s the big deal? Harris would have the government begin setting prices for key goods such as food and groceries.
In Cruz’s book, that’s a bridge too far. He pointed out that when governments start designing what people should pay for things, it generally results in empty shelves and economic chaos ᅳ an outcome history has followed time and again.
But the lawmaker did not stop there in his whine about the price controls. He reminded all that inflation, too, had spun out of control under the administration of Biden-Harris. The way he looks at it, Democrats have been throwing money at every problem like there is no tomorrow, flooding the economy with those dollars and running up the prices.
In his words; “the Democrats spent a crap-ton of money they didn’t have, and they grew the money supply.”
And then there’s the energy issue. Cruz made it plain that the administration’s war on oil and gas has driven up the cost of everything from food to other things.
“When it comes to food, a big driver of the cost of food is the cost of fertilizer. And fertilizer, natural gas is a major ingredient. Energy costs are a major ingredient in the cost of fertilizer. Every one of those trucks run on diesel as well, and so by waging a war on oil and gas, Kamala Harris is directly responsible for causing a massive increase on the cost of food at the grocery store,” he stated.
With the election looming, Cruz believes Harris has painted herself into a corner. Her supported policies have made life harder for millions of Americans, but instead of owning up to that reality, she proposes a plan that he believes will make the exact problems it should fix worse.
According to Cruz, Harris’ plan to have the government decree lower prices is catastrophe in the making.
“Her solution is an absolute train wreck. It is a disaster. It would hurt the American people badly. But understand she doesn’t know this. Far too few Democrats in Washington even have a basic understanding of economics,” he stated.
Kamala Harris's war on energy is a major driver of inflation. By driving up the cost of energy, the price of food has skyrocketed.
Instead of fixing the inflation that she caused, Kamala Harris's proposed solution is Soviet-style price controls on food.https://t.co/ZyQmvDWgPc pic.twitter.com/vL5phatG28
— Ted Cruz (@tedcruz) August 16, 2024
Cruz’s message came after Harris unveiled her economic policy agenda which includes price controls touted as part of a federal price-fixing plan.
She has received blowback from the plan, including from her rival, Republican presidential nominee Donald Trump, who warned that her plan “will cause rationing, hunger, and skyrocketing prices, just like their Inflation Reduction Act caused one of the great scams of all time.”
