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White House forced to respond to Biden’s debunked inflation claim
mystery-ak:
White House forced to respond to Biden’s debunked inflation claim
By
Haisten Willis
May 15, 2024 4:02 pm
.
The White House was forced Wednesday to defend President Joe Biden‘s dubious claim that inflation was at 9% when he took office.
Biden has said so twice now, but in reality, inflation stood at just 1.4% in January 2021. It did reach 9% — in June 2022, when he’d been in office for nearly 18 months. When a reporter brought up the discrepancy, press secretary Karine Jean-Pierre spoke to wider forces in the economy.
“The point he was making is that the factors that caused inflation were in place when he walked into the administration,” she said. “The pandemic caused inflation around the world by disrupting our economy and breaking our supply chains.”
The reporter had asked if Biden was deliberately misleading the public or if he just didn’t realize that inflation was at 1.4% when he took office.
“Reopening after the pandemic unavoidably increased inflation by unleashing pent-up demand,” Jean-Pierre continued. “Annualized core CPI [consumer price index] in the second term of 2021 was 9%. So he was talking about the factors that were in place that led to that.”
more
https://www.washingtonexaminer.com/news/white-house/3005344/white-house-responds-biden-debunked-9-percent-inflation-claim/
roamer_1:
--- Quote from: mystery-ak on May 15, 2024, 09:27:26 pm ---“The point he was making is that the factors that caused inflation were in place when he walked into the administration,” she said. “The pandemic caused inflation around the world by disrupting our economy and breaking our supply chains.”
--- End quote ---
That's partly true - But only partly. Bitem and his administration have only exacerbated the problem.
LMAO:
--- Quote from: roamer_1 on May 15, 2024, 09:36:07 pm ---That's partly true - But only partly. Bitem and his administration have only exacerbated the problem.
--- End quote ---
That’s right
Hoodat:
--- Quote from: mystery-ak on May 15, 2024, 09:27:26 pm ---“The point he was making is that the factors that caused inflation were in place when he walked into the administration,” she said.
--- End quote ---
There was only one factor in place that causes inflation - the Fed's ability to expand the money supply by funding government excess. And in that regard, Biden made full use of it.
Maj. Bill Martin:
--- Quote from: mystery-ak on May 15, 2024, 09:27:26 pm ---
“The point he was making is that the factors that caused inflation were in place when he walked into the administration,” she said. “The pandemic caused inflation around the world by disrupting our economy and breaking our supply chains.”
--- End quote ---
Bullhockey.
The "American Rescue Plan Act of 2021", which was the third Covid stimulus bill, threw 1.9 trillion in cash into the economy, including $1400 stimulus checks, and was passed and signed by Biden in March 2021. One consequence of that was turbo-charging inflation. So for Biden to blame the underlying condition entirely on Trump is disingenuous as hell. However....
Back in December 2020, Trump himself pushed Congress to pass a massive stimulus bill in December 2020 that would have included $2000 stimulus checks, but McConnell opposed it as too expensive and forced the checks to be reduced to $600 instead. So sure, we can and should blame Biden for what he did in March 2021. The problem is that Trump wanted to pass the $2000 total checks back in December 2020, so he has no room to talk in terms of blaming Biden for inflation. Here's Trump slamming McConnell for not approving that larger stimulus bill in December 2020:
--- End quote ---
https://twitter.com/realDonaldTrump/status/1343998076084748288
And here's NANCY PELOSI agreeing with Trump pushing for the larger bill and demanding that GOP leadership get it done:
--- End quote ---
https://twitter.com/SpeakerPelosi/status/1341557535732604935
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