President Joe Biden and his administration are moving to fight inflation in the meat sector. But the government solutions he's proposing to what is largely a government-created calamity will likely only serve to deepen existing problems.

Many of the meat-industry problems the Biden administration identifies as in need of fixing are very real. For example, the administration says meat prices are through the roof. That's true. The administration says the meatpacking industry is highly consolidated, with just four giant companies responsible for slaughtering and processing nearly 7 out of every 8 pounds of beef (and slightly lower amounts of pork and poultry) we eat every year. That's true, too. (It was also largely true 20 years ago and 100 years ago.) The Biden administration has also argued large meatpackers have been busy "raising prices, underpaying farmers—and tripling their profit margins during the pandemic." Also true.

The Biden administration believes meat prices are sky high due largely to this industry consolidation and lack of competition.

"When dominant middlemen control so much of the supply chain, they can increase their own profits at the expense of both farmers—who make less—and consumers—who pay more," the administration announced this week. "Most farmers now have little or no choice of buyer for their product and little leverage to negotiate, causing their share of every dollar spent on food to decline."