Biden’s Latest Inflation Narrative: ‘Corporate Price Gouging’Wendell Husebø21 May 20245
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“Corporate price gouging” is the Biden administration’s latest narrative to displace the responsibility of soaring costs.
President Joe Biden, who falsely claimed twice in two weeks that inflation was at nine percent when he assumed office, is transitioning to another tack, albeit a strategy he has used before.
“President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” White House deputy press secretary Andrew Bates claimed. “Standing up to corporate price gouging is at the core of that fight.”
Prices have soared under Biden’s leadership. The average Wisconsin family lost $21,981 due to the increased cost of living under Biden, the Republican National Committee estimated in May.
A McDonald’s meal with a Big Mac burger, a medium beverage, and an order of medium fries costs $18 in some locations, up $10 from 2018 when Donald Trump was president.
American families, meanwhile, have racked up credit card debt and gone into delinquency at an increased rate since the pandemic, the New York Fed found last week.
About 120,000 Americans incurred a bankruptcy notation on their credit reports last quarter. About 4.8 percent of Americans had some debt in third-party collections.
A majority of voters (51 percent) believe their financial position is worse under Biden’s economic policies, a Financial Times/Michigan Ross poll recently showed.
The poll also found damaging results for Biden’s reelection chances:
Only 28 percent of voters said Biden’s economy helped their financial situation.
71 percent said economic conditions are negative.
80 percent said soaring prices are one of their biggest challenges.
“The poll results, which come less than six months before November’s presidential election, suggest voters are still blaming Biden for high consumer prices such as those for petrol [gas] and food,” the Times analyzed.
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https://www.breitbart.com/2024-election/2024/05/21/bidens-latest-inflation-narrative-corporate-price-gouging/
