President Joe Biden said Wednesday that the U.S. economy experienced zero percent inflation in July following the latest Consumer Price Index report.” Biden claimed that last month saw zero percent inflation. But there is a zero percent chance that is true; inflation in July was 8.5%, which is still at a 40-year high,” one lawmaker said.
Biden’s zero inflation statement and his reaction
On Wednesday, President Joe Biden publicly stated that inflation in the U.S. economy was at 0% in July after the release of the latest Consumer Price Index (CPI) report.
“Before I start today,” Biden began, “I want to say a few words about the news that came out today related to the economy.” Actually, I just want to say a number: zero.” The President added:
Today our economy received news that the inflation rate for July was zero percent. Zero percent.
White House Press Secretary Karine Jeanpierre likewise said on Twitter:” Our economy just received the news that inflation was zero percent in July. The price of some things went up while the price of other things like gas and clothing went down.”
Rep. Mike Bost (R-IL) tweeted:
Biden says he saw zero percent inflation last month. But there is zero percent chance that is true; inflation in July was 8.5 percent, which is still a 40-year high.
American author Jeffrey Tucker called 41} Biden’s zero percent inflation claim 42} a “bogus math trick.” He said, “This is an overall exponential change over the course of a month. Overall, the big drop in fuel oil and gas (following the big monthly increases in previous months) has pushed down the big increases everywhere else.” He stated. Furthermore, “By the same tactic, we can also observe a 19.2% one-month increase in electricity! But, of course, we won’t do that. Because that would be ridiculous. The actual increase is 15.2%, which is what we get from the year-over-year calculations.”
Rudy Havenstein says: “I think it is an extreme level of gaslighting, insulting, disingenuous, and not popular with non-theorists for the President or anyone else to publicly – with a straight face – claim that last month was ‘zero inflation’.” This is the view of.
Tricia Flanagan writes, “Inflation was 8.5% in July, not “zero,” Joe. This misunderstanding of basic economics is sad, misleading and&dangerous.”
U.S. Senator Lindsey Graham (R-SC) comments:
What kind of world is President Biden living in? Americans continue to suffer under Biden inflation. Obviously, he is not buying any food or filling the gas tank … How out of touch can you be? Sad and dangerous.
California House Republican Leader Kevin McCarthy tweeted: “President Biden just said the economy had zero percent inflation in July.” Noting that gasoline prices are up 44%, air fares 27%, and groceries 13%, he emphasized this.” While you continue to pay the price for his failure, Biden has an obligation to tell the American people the truth about inflation.”
Rep. Ralph Norman (R-SC)mocked the 0% inflation tweet by the White House Press Secretaryand stated.
Even though inflation is more than four times the normal rate, the White House spin is, ‘Look guys! Last month it was zero percent!’ It’s. Zero percent last month!” Such B.S.
Fox Business anchor David Asmansaid, “Lies, damn lies, statistics”. Inflation is up 8.5% y/y. Today’s numbers are all gas, whose demand is down to levels not seen since the 2020 lockdown … food is still up 10.9% y/y. Folks can cut road trips, not food.”
Referring to the U.S. government’s efforts to redefine the technical definition of the word “recession,” Townhall.com editor-in-chief Spencer Brownwrote:
The White House has already tried to redefine “recession,” and now it wants Americans to believe that the 8.5% annual CPI figure reported in July is “zero inflation.” Unreal.
and describes it as such.” The Biden administration’s celebration is built on the ignorance and sacrifice of Americans living paycheck to paycheck, but the White House clearly doesn’t know or care what Americans are dealing with.”
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