U.S. President Joe Biden expressed his view on inflation.” I am more optimistic than I have been in a long time,” he said, noting that inflation has not spiked in months. Many people disagree with Biden, with one saying that “families are poorer than when he took office.”
U.S. President Joe Biden’s views on inflation and the U.S. economy
U.S. President Joe Biden discussed a wide range of topics, including the U.S. economy and inflation, in a 60 Minutes interview that aired Sunday. He was asked what could be done better and faster, given that the annual inflation rate is 8.3%. Biden replied.
First of all, let’s put this in perspective. Inflation is up only an inch month-over-month, and it’s hardly rising at all.
Noting that he is not claiming that 8.3% inflation is good news, Biden emphasized, “I’m not claiming that inflation is good news.” It used to be 8.2%.”
Acknowledging that inflation is the highest it has been in 40 years, the president said.
“It hasn’t spiked in the last few months. And during that time we have created all those jobs.” Biden acknowledged that prices have gone up, but insisted that “we are coming down on energy.”
When asked if the U.S. economy will worsen, Biden replied, “I don’t think so.” No, I don’t think so. We are hoping that we can have what they call a soft landing.” As for whether inflation will continue to fall, the President said.
I have told the American people that we are going to control inflation: …… I am more optimistic than I have been for a long time.
“Their prescription drug prices are going to be ‘ridiculously low.’ Their healthcare costs are going to be a lot lower.” This is because the “discovery” is not a discovery.
Many on Twitter accused President Biden of downplaying the issue and not understanding the challenges facing the American people. In response to the president’s insistence that inflation has not skyrocketed, a number of people reminded him that inflation was 1.4% when he took office.
Joel Griffith, an economist and researcher at the Heritage Foundation, tweeted a list of items that have seen significant price increases, including gas, food, and furniture.
Politicians also weighed in on the story. Jennifer Ruth Green, a candidate for Congress from Indiana, tweeted. ‘When Joe Biden became president, inflation was 1.4%, 19 months later it is 8.3%. Americans are hurting badly, and instead of taking responsibility for his mistakes, the president just wants to make the problem go away so his party can stay in power after the midterm elections.”
Republican National Committee Chairwoman Ronna McDaniel weighed in. Yesterday, Biden said Americans need to put inflation in “perspective.” That perspective is: Since the Democrats passed their $1.9 trillion ‘stimulus’ plan, real wages have fallen and families are poorer than when he took office.”
Pennsylvania congressional candidate Jim Bognett wrote, “Joe Biden, Nancy Pelosi, and Matt Cartwright think 8.3% inflation is acceptable. That is not true. Americans are about to be crushed; they are being robbed of one month of their annual income at the highest inflation rate in 40 years. We need change now.” Former Secretary of State Mike Pompeo weighed in with this opinion.” President Biden may think inflation is no big deal. But every American who shops for groceries knows the devastating effects of Biden’s policies.”
Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), commented on CNBC that Biden is right to focus on inflation, but “people pay prices, not inflation.” He commented.
People are focusing on prices … the average household expenditure is going up $500 a month. That hurts.
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