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‘Stop the price-gouging’: Biden hits corporations over high consumer costs (www.cnbc.com)
submitted 2 years ago by to c/news@lemmy.world
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[–] 57 points 2 years ago (2 children)

Any legislation to go with that or are you just asking nicely?

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  • [–] 24 points 2 years ago (1 child)

    I'd be surprised if even saying this didn't have political ramifications. There's nothing, besides; military budget, tax breaks to millionaires, and their own pay raises, that would get through both houses of Congress right now.

    Asking nicely is at least virtue signaling, maybe it'll be something we can address if a couple R's ever see the consequences of their illegal actions.

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  • [–] 11 points 2 years ago (2 children)

    L-O-L

    He could threaten to cancel federal contracts with any vendor found to be price gouging. That would have actual ramifications and doesn't require Congress.

    The president isn't powerless here. He just wants credit for purely performative actions.

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  • [–] 19 points 2 years ago (1 child)

    The price gouging is mainly coming from consumer facing markets, not government contracts. Even with discretionary spending there isn't that much that pure executive branch actions can do to dissuade the price gouging that we've been seeing.

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  • [–] 6 points 2 years ago (1 child)

    Well to be fair, there is A LOT of price gouging from government contracts, but they just print the money for it so they don't REALLY care.

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  • [–] 1 point 2 years ago (1 child)

    Yup.

    If the President threatened to void federal contracts, you'd see immediate change.

    But the president doesn't work for us.

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  • [–] 6 points 2 years ago (1 child)

    void federal contracts

    I'm sure Walmart and Chipotle are shaking in their boots. I guess a president DID get McDonald's delivered to the White House once.

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  • [–] 3 points 2 years ago (1 child)

    I agree. Angry orange man was known for pushing every single loophole to make bad things happen.

    If Joebob wanted to actually do something about it, he'd find a way to work it through the system. Isn't that the point of politics??

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  • [–] 11 points 2 years ago

    In presidential systems like the US has legislation originates from congress. The President only has veto power over legislation, and controls the enforcement of existing legislation. They can't force congress to create new legislation, though of course they can propose legislation (anyone can do that). This is very different from parliamentary systems where the Prime Minister is the head of the majority party of the parliament, and can thus directly propose legislation and get their party to support it.

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