“Shrinkflation” is the word du jour for the Biden administration, which is readying for the president to address the economy in his State of the Union address.
,” has become a popular term for corporate greed among the more liberal lawmakers in the Democratic Party. They contend thatBut the Biden administration only just recently began to echo those same sentiments. The pushing of the shrinkflation line ahead of the State of the Union could be seen as a way to deflect blame for the inflation of the past few years onto corporations rather than on economic policies implemented by President Joe Biden and congressional Democrats.
“Shrinkflation is real, but it’s not a partisan issue. Shrinkflation is part of the great COVID inflation,” Ryan Young, senior economist at the libertarian Competitive Enterprise Institute, recently told the the consumer price index. In other words, the inflation statistics commonly cited by officials and the media already reflect any such adjustments by manufacturers.
The popular children’s show wading into U.S. economic policy was controversial and was even derided by puppeteer Frank Oz, who was an early collaborator with Sesame Street founder Jim Henson. Oz questioned the “integrity of the Sesame Workshop” in a post on social media.
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