On February 12, 2024, Biden was bragging about inflation while giving a speech.
“And it’s clear we have the strongest economy in the world: nearly 15 million new jobs since I came to office. (Applause.) The longest stretch of unemployment under 4 percent in 50 years. Growth is strong. Rages are r- — wages are rising. Inflation is down,” he said. “In fact, the costs have fallen from everything from a gallon of gas to a gallon of milk.”
BIDEN: “Costs have fallen from everything from a gallon of gas to a gallon of milk!”
He’s lying. Overall costs are up 17.3% under Biden while gas prices remain ~30% higher than when Biden took office. pic.twitter.com/PS6qdNNx9j
— RNC Research (@RNCResearch) February 12, 2024
The next day, the Labor Department released the Consumer Price Index for January, showing that it is up 3.1 percent from the previous year. Meaning inflation is back on its way up and it could force the Federal Reserve to keep interest rates high.
Additionally, there are reports that inflation may even continue to rise.
From Politico:
Unfortunately for Biden, Tuesday’s inflation report came in hotter than expected, ensuring that one of his toughest political problems isn’t going away.
…
A majority of economists surveyed by the National Association for Business Economics expect that CPI will remain elevated, with about two-thirds believing it’s likely or very likely to stay above 2.5 percent through the end of the year.
Biden has tried to repeatedly put the blame on consumers.
But it’s not working.
Especially coming from an administration that told us inflation was “transitory.”
It’s “hotter than expected” only by the idiots who said we could print trillions w/o spiking prices, & then claimed any inflationary will be “transitory.” Relentless inflation is exactly in keeping with what those of us w/ common sense have been predicting from the outset. https://t.co/jKaMyVZw65
— Tom Elliott (@tomselliott) February 13, 2024
But don’t worry not being able to afford your groceries is just an “anomaly.”
Top Biden economic advisor Lael Brainard dismisses rising prices of food, shelter, and insurance: “I expect there’s some anomalies in today’s [CPI] report” pic.twitter.com/3otK0wzQET
— RNC Research (@RNCResearch) February 13, 2024
Folks, he said he brought prices down, but now they are back up, so he owns this one.
