The Biden Administration has no idea what to do about this other than demand more of the same. Mr. Biden issued a statement Wednesday claiming all is well because “in the few days since the data” for the October price report was collected, natural gas prices have fallen. Oh, and he’s asked the Federal Trade Commission “to strike back at any market manipulation or price gouging.” He said his infrastructure bill will solve supply shortages, though most of the money won’t be spent until 2024. We haven’t seen such incompetence since Jimmy Carter.

The reaction from the Keynesian economists whose advice Mr. Biden is following has been to move the policy goalposts. Price increases may be more persistent than they predicted but now they say more inflation is good. The economy needs to run hot so wages rise faster—never mind that nominal wage gains might be wiped away by inflation.

There’s no doubt inflation is good for the government. Soaring nominal GDP growth means higher nominal business profits and more tax revenue. It also pushes individuals into higher tax brackets, giving the feds another windfall. Politicians prosper while average Americans struggle.

This inflation surge is all the evidence Sen. Joe Manchin needs to stop his party from building back worse.