Staff Reports
On Thursday, President Joe Biden’s political account posted a doozy of a statement about inflation. In his post, he started with his signature phrase, “Let me be clear,” and proceeded to call out corporations for not reducing their prices despite a slight decrease in inflation. He urged them to stop price gouging and give American consumers a break. Now, if you ask any reasonable person who understands basic economics, they’ll tell you that Biden’s statement is a load of hogwash.
It’s no surprise that the post received over 17,000 replies. And what’s even more telling is that there were more quoted reposts than regular reposts. Even former and current members of Congress couldn’t help but chime in and question the president’s understanding of economics. Take Senator Ted Cruz, for example, who pointed out the obvious: Biden may not be the one crafting these posts, but it raises concerns when someone with a limited grasp of economics shares such misleading information.
Community Notes Comes for Joe Biden on Inflation
https://t.co/adbpR77Kxj— Townhall.com (@townhallcom) December 1, 2023
But it doesn’t stop there. A Community Notes reference further disputed Biden’s claim. The note explained that as long as the inflation rate is positive, prices are still increasing, albeit at a slower rate. Numerous reputable sources, including the International Monetary Fund, USA Today’s Money section, and a Statista graph, all debunked the president’s notion that prices should automatically drop when inflation eases. It just goes to show that fact-checking is clearly not a skill possessed by the person running Biden’s political account.
Let’s take a moment to put things into perspective. Among the last eleven presidents, Biden sits at the third-highest inflation rate, a whopping 5 percent. In comparison, his predecessor, Donald Trump, had a modest inflation rate of 1.4 percent. The only president who did better than Trump was George W. Bush, who managed to achieve a 0.0 percent rate. Trump even met the Federal Reserve’s goal of 2 percent inflation. Now, whether you love or loathe Trump, it’s hard to deny that he had a better handle on the economy than Biden.
But here’s the kicker. The Biden administration has a knack for avoiding responsibility, especially when it comes to inflation. They deflect blame onto the previous administration, claiming that the economy was in a tailspin when they took over. White House Press Secretary Karine Jean-Pierre even had the audacity to praise Biden for the American Rescue Plan, which directly contributed to the massive inflation we’re experiencing now. It’s like praising a firefighter for putting out a fire they started in the first place.
And the American people aren’t buying it. According to polls, Biden’s approval rating on inflation is a measly 35 percent, while a whopping 61.8 percent disapprove. It’s no surprise considering the rising prices and the burden it places on hardworking Americans. And when it comes to the economy as a whole, Biden’s approval rating is even worse. The majority of respondents believe that Trump had a better handle on the economy during his time in office.
So there you have it, folks. Biden’s claims about inflation and price gouging are nothing more than political spin. It’s time for him and his administration to take responsibility for their failed policies and start working towards real solutions that benefit the American people, not just their own political agenda.
