Mike Pence leads the 2024 pack with his laudable plan to beat inflation
Tiana Lowe Doescher
Video Embed
Mike Pence is leading the way for the Republican presidential contenders in releasing his first draft of a comprehensive plan to combat the worst inflation crisis in four decades. The former vice president begins his plan with his most radical proposal: “Freezing non-defense spending, eliminating unnecessary government programs, repealing over $3 trillion in new spending under Biden, and reforming mandatory programs that drive our debt.”
Pence, who first teased his willingness to abolish the Federal Reserve’s dual mandate during an exclusive interview with the Washington Examiner, would replace the dual mandate with the sole mandate of stable interest rates. The plan also more conventionally pledges to remove “regulatory burdens, [enact] pro-growth tax policies, and [ensure] access to abundant American energy” and unleash domestic energy production.
HUNTER BIDEN PLEA DEAL COLLAPSES IN COURT AS JUDGE THROWS ‘CURVEBALL’
Despite the current primary pandering about fringe issues like foreign aid and transgender bathrooms, the economy remains the single most important issue to Republican voters, both nationally and in ultraconservative primary states like Iowa. And when you look at the math, there’s little wonder why.
The Federal Reserve’s legal inflation target is 2% year over year or about 5% over two-and-a-half years. Instead, prices have risen some 16% since Biden took office, and Pence’s plan does a thorough job explaining why the president is to blame. It’s worth reading in its entirety and worth wondering why Pence is the first in the field to comprehensively address the issue most prioritized by voters.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Of the candidates scoring more than 1% in national polls, only Pence and Nikki Haley have pledged to reform entitlements, the single greatest driver of our projected growth in the federal debt, and only Pence and Vivek Ramaswamy have pledged to abolish the dual mandate to take the central bank’s attention away from the fool’s goal of full employment. Gov. Ron DeSantis (R-FL), once the dominant challenger to former President Donald Trump, has barely even outlined the broad strokes of his own fiscal plan and proposed monetary policy reform, leading one to wonder if the Florida governor even has any interest in the latter at all. DeSantis reportedly plans to unveil his Declaration of Economic Independence, but it evidently will focus on decoupling the American economy from China, not our own fatal flaws in federal spending and the Federal Reserve.
Bravo to Pence for outlining a workable yet equally ambitious and efficacious plan to address the electorate’s greatest concern. With the primary debates only one month away, his fellow challengers ought to take note and follow suit.