Kamalaflation: Harris vows to right the economy after pulverizing public debt and prices

For years we talked about 'Bidenomics' and the Biden-Harris Administration's dire numbers on the U.S. economy. However, the democratic Party's blow to Joe Biden's re-election bid and the rise of Kamala Harris to lead the Democratic aspirations for the presidency turned the spotlight on the management of the still-vice president.

Thus, and after almost four years in office, we can affirm that bidenomics also has a lot of 'kamalanomics.' The now presidential candidate promised to straighten out the economy in her acceptance speech at the Democratic National Convention. But let's see how his economic management as vice president went. We give you a preview that Kamalanomics wreaked havoc on the country.

As President, I will grow our economy.
And I’ll lower the cost of everyday needs like healthcare, housing, and groceries."Kamala Harris

Kamalaflation, a boondoggle that pulverized the national debt

Harris promised to grow the economy, but numbers don't usually lie and it seems clear that the country is experiencing - and suffering from - a whole inflationary tsunami resulting from Kamala's mismanagement, the 'Kamalaflation.' She is the incumbent running for office and it is incumbent upon her to take responsibility.

As Senate President, Vice President Harris set a new record for tie-breaking votes cast by a vice president in history, surpassing a record that had stood for nearly 200 years. And her votes were very significant in getting to the point where the country is now. They included the decisive vote to secure passage of the Inflation Reduction Act and the American Bailout Plan Act, two pieces of legislation that added trillions to the national debt; which has already pulverized all historical records.

More data. When the Biden-Harris Administration took office, inflation was a mere 1.4%. Less than four years later, prices soared by 19.6% - 5.6% annually - while the average wage remained stagnant and even registered declines, causing an unstoppable loss of purchasing power for the citizen. Since March 2021, inflation remained consistently above the Fed's 2% target for 41 consecutive months. At present, and despite the drop in inflation, it is close to 3% according to the latest data for the month of July.

As a consequence of this lack of control, countless economic indicators plummeted during the Biden-Harris mandate, from family debt to the perception of prosperity of Americans, surpassed by the rise in prices despite the Administration's continuous refusals to acknowledge the economic recession.

Kamala Harris' socialist measures

After years of fueling this price decontrol, the Vice President is now trying to "straighten out" the U.S. economy. How does she intend to do it? By applying measures typical of a socialist regime. Or, in other words, by adding more fuel to the fire.

From price controls (triggered by the inflationary measures of Biden-Harris) to tax hikes to limit corporate profits, through increased spending disguised as "aid to families." In other words, the classic recipes of the left that always lead to more public spending, more debt and higher inflation.

Spanish economist Daniel Lacalle described these measures as "American Peronism" and recalled that, following Harris' plan, the U.S. public debt will probably increase by 24 trillion dollars in a decade.