The one benefit to overseeing record inflation is that any decrease whatsoever can then be celebrated as a victory.
President Biden’s 2024 reelection effort might as well be called the Biden Bamboozle Tour given his claim this week about prices coming down — a claim that even Treasury Secretary Janet contradicted.
“Inflation is coming down, It’s now lower in America than any other major economy in the world. The cost of eggs, milk, chicken, gas, and so many other essential items have come down,” Biden said over the weekend during a speech in South Carolina.
According to the Financial Times, there are several major economies with a lower inflation rate than the U.S., including Canada, South Korea, Japan, and China.
Biden brags about overall prices (up 17.3% during his presidency) and gas prices (up 30% from when he took office) pic.twitter.com/vHGneMScgk
— RNC Research (@RNCResearch) January 28, 2024
Not content with stretching the truth beyond a breaking point, Biden proceeded to throw corporate America under the bus by claiming businesses are largely responsible for higher prices — many of the corporations being on board with reelecting the 81-year-old president.
“But for all we’ve done to bring prices down, there are still too many corporations in America ripping people off — price gouging, junk fees, greedflation, shrinkflation,” he added.
The dirty little secret here is that the inflation rate has come down, which means current inflation is lower than previous inflation. In a nutshell, that means prices are rising at a slower rate.
Yellen, 77, seemed to understand as much during an interview with ABC News.
“Well, I think most Americans know that prices are not likely to fall,” she explained. “It’s not the Fed’s objective to try to push the level of prices back to where they were.”
Biden Treasury Secretary Janet Yellen: “I think most Americans know that prices are not likely to fall.” pic.twitter.com/QM9fWa56NS
— RNC Research (@RNCResearch) January 29, 2024
Overall, according to the RNC tweet above, prices are up 17.3% during Biden’s presidency and gas prices, which may be lower now than a year ago, are still up 30% from when he took office.
Here’s a quick sampling of responses to the story, as seen on X:
True. But most Americans also know that the rapid increase in prices was due directly to Biden’s administration.
— Fredzoid (@Exist177670756) January 29, 2024
She should tell Byedan that since he seems to think our economy is doing great
— Sacred Valley Podcast (@CreteTara) January 29, 2024
So when @SecYellen admits truths and how inflation is here to stay, do the American people finally understand what to do in November?
— Agent of Truth (@Shawn_Singh1974) January 29, 2024
Such a failure. She should have been fired when she said inflation was temporary…
— Vet0917 – Dad, Husband, Ret. Navy War Vet ⚓️ (@Vet0917) January 29, 2024
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
Tom Tillison grew up in Maryland before moving to Central Florida as a young teen. It is in the Sunshine State that he honed both his passion for politics and his writing skills. Tillison also contributes to BizPac Review.
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