The Briefing Room
General Category => Politics/Government => Topic started by: mystery-ak on April 11, 2024, 04:01:29 pm
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Fact Check: Biden Blames Inflation on Trump
John Carney 11 Apr 2024
Claim: President Joe Biden claimed on Wednesday that inflation was “skyrocketing” when he took office.
“Look we have dramatically reduced inflation from 9% down to close to 3% we’re in a situation where we’re better situated and we were we took office, where we inflation was skyrocketing,” Biden said Wednesday at a White House press conference.
The president was reacting to the latest report on the consumer price index, which showed inflation rose at an annualized rate of 4.6 percent in March, the fourth consecutive month in which inflation has exceeded expectations.
Verdict: False.
Inflation was not skyrocketing when Biden took office. When Biden took the oath of office in January of 2021, the consumer price index was up 1.4 percent from a year earlier. The following month it was up 1.7 percent.
The personal consumption expenditure price index, the measure used by the Federal Reserve as the basis for its two percent inflation target, was up 1.6 percent in January 2021 and 1.8 percent in February.
more
https://www.breitbart.com/economy/2024/04/11/fact-check-biden-blames-inflation-on-trump/
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Does LIEden know it's April 2024, not April 2021?
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Some of it is Trumps fault. Trump is not innocent.
Steve Mnuchen, Sec or Treas. begged Trump to push the Fed to slowly start raising interest rates or he would have an inflation problem in his second term because the housing boom was causing or would cause inflation. Remember the housing prices went insane 2019 and 20202. "Too few goods being chased by too much money" is a classic cause of inflation. Trump refused.
The collapse of the supply chain, neither Trumps or Bidens fault also was a large factor in inflation.
Trumps $2.2 trillion covid act also caused inflation.
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Trump's economy was doing fine until Covid-19/SARS2 hit.
Trump's Operation Warp Speed help America's economy take the lead in economically recovering from Covid-19/SARS2.
Inflation was started by Covid-19/SARS2 supply chain disruption, but became non-transitory when Biden's policies institutionalized Government regulatory restraint of supply.
My higher electric bill is Joe Biden's and Charlie Baker's faults.
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Some of it is Trumps fault. Trump is not innocent.
Steve Mnuchen, Sec or Treas. begged Trump to push the Fed to slowly start raising interest rates or he would have an inflation problem in his second term because the housing boom was causing or would cause inflation. Remember the housing prices went insane 2019 and 20202. "Too few goods being chased by too much money" is a classic cause of inflation. Trump refused.
The collapse of the supply chain, neither Trumps or Bidens fault also was a large factor in inflation.
Trumps $2.2 trillion covid act also caused inflation.
And the throw Biden’s so called “ Inflation Reduction Act” on top of it and….boom
But what’s done is done. It’s what to do about it. Neither Biden nor Trump are interested in seriously tackling the issue
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Some of it is Trumps fault. Trump is not innocent.
Steve Mnuchen, Sec or Treas. begged Trump to push the Fed to slowly start raising interest rates or he would have an inflation problem in his second term because the housing boom was causing or would cause inflation. Remember the housing prices went insane 2019 and 20202. "Too few goods being chased by too much money" is a classic cause of inflation. Trump refused.
The collapse of the supply chain, neither Trumps or Bidens fault also was a large factor in inflation.
Trumps $2.2 trillion covid act also caused inflation.
Nobody expected the housing market to rocket the way it did. That was pretty much all on COVID.
Trump might have had some inflation in term 2 (unless this guy was anticipating the housing rush), but not like this without COVID.
As for his 2.2 trillion COVID act, I seem to recall the senate voted 96-0 for it. If that group of gutless windwalkers was the united, it tells you he'd been pretty stupid not to sign it.
Biden and his "Bidenomics" which I didn't see in his fart of a statement has been a huge disaster.
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Trump's economy was doing fine until Covid-19/SARS2 hit.
Trump's Operation Warp Speed help America's economy take the lead in economically recovering from Covid-19/SARS2.
Inflation was started by Covid-19/SARS2 supply chain disruption, but became non-transitory when Biden's policies institutionalized Government regulatory restraint of supply.
My higher electric bill is Joe Biden's and Charlie Baker's faults.
Biden and his lackey's complety politicised the entire mess, something he'll burn in hell for.