This has to rank as one of the most economically illiterate and juvenile presidential crusades in recent history.
Joe Biden has met the enemy, and it is smaller packaging for foodstuffs.
The White House is targeting the practice known as “shrinkflation,” or companies keeping the nominal price of a product the same while decreasing the amount. This, naturally, is just another way of charging more. If the price is the same, but you’re getting only 14 ounces of Wheat Thins instead of 16, you are paying more for your whole-wheat crackers.
President Biden slammed shrinkflation in a Super Bowl video featuring various offending snacks, including Doritos, Tostitos, and Oreos. He called it a “rip-off” and declared that “the American public is tired of being played for suckers.” He may revisit the theme in his State of the Union address.
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