U.S. U.S. President Joe Biden shared his views on inflation. He stated that he is more optimistic than he's been in a long while, noting that inflation has not risen for several months. Biden's views are not shared by everyone. One person said that his family is poorer now than when he took office strong>
Joe Biden, the US President's Views on Inflation & the U.S. Economic Situation
In a Sunday interview with 60 Minutes, Joe Biden spoke about a variety of topics including inflation and the U.S. Economy. Biden was asked how he could do more to reduce the 8.3% annual inflation rate. Biden replied:
Let's first put it in perspective. Month-to-month inflation rate was only up an inch. That's not much.
Biden noted that he isn't arguing that 8.3% inflation was good news. He stated: "It wasn't 8.2% before."
The president acknowledged that inflation is at its highest point in 40 years. However, he said, "Guess where we are, it hasn’t spiked for several months… It’s basically even." We created all these jobs in the interim." Biden acknowledged that prices have risen, but argued that they have fallen for energy.
When asked if the U.S. economy would worsen, President Biden replied: "No, not so. The president said that he hoped we could have the soft landing they refer to:
I'm telling Americans that inflation will be under control… I feel more optimistic than ever.
Their prescription drug prices will be much lower. Their healthcare costs will be much lower. He said that their basic costs for everyone, and their energy prices will be lower."
Many took to Twitter to criticize President Biden's downplaying of the problem and inability to understand the American people's challenges. Many people reminded President Biden that the inflation rate was 1.4% at the time he took office, in response to his claim that it has not increased.
Joel Griffith, an economist and Heritage Foundation research fellow, tweeted a list containing items whose prices have increased significantly. This included gas, food and furniture.
Political figures also participated in the conversation. Jennifer-Ruth Green (candidate for Indiana's Congress) tweeted: "Inflation is now 8.3% nineteen month after Joe Biden took office. It was 1.4% at that time. Americans are in serious trouble and the president doesn't want to take responsibility for his mistakes.
Ronna McDaniel is the chairperson of Republican National Committee. She stated: "Yesterday Biden said Americans should put inflation in perspective. Real wages have fallen since Democrats passed their $1.9 billion'stimulus', and families are now poorer than when he took office."
Jim Bognet, a candidate in Pennsylvania for Congress, wrote that Joe Biden, Nancy Pelosi and Matt Cartwright believe 8.3% inflation to be acceptable. It's not. Americans are being crushed. You have been deprived of one month of your annual income due to the highest inflation rate in over 40 years. We need to change now." Mike Pompeo, former Secretary of State, stated: "President Biden might not believe that inflation is a big deal. Every American who buys groceries is aware of the disastrous effects of Biden’s policies.
Jay Clayton, the former chairman of U.S. Securities and Exchange Commission, (SEC), stated on CNBC that although Biden has a right to emphasize inflation, "People don’t pay inflation, but they pay prices."
People are focused on the prices. The average household spend is increasing by $500 per month. It hurts.
What did you think of President Joe Biden's remarks on inflation? Comment below to let us know your thoughts about President Joe Biden's comments on inflation.
By: Kevin Helms
Title: Biden Slammed After Stating Inflation Hasn’t Spiked for Months — ‘I Am More Optimistic Than I’ve Been in a Long Time’
Sourced From: news.bitcoin.com/biden-slammed-after-stating-inflation-hasnt-spiked-for-months-i-am-more-optimistic-than-ive-been-in-a-long-time/
Published Date: Tue, 20 Sep 2022 00:30:51 +0000