UPDATED 8:21 AM PT – Thursday, December 2, 2021
Joe Biden recently attempted to downplay the numerous economic crises facing the nation. While speaking from D.C. on Wednesday, he claimed the economy is currently doing well and is on its way to recovery.
Joe Biden’s strategy is to blame everyone but himself for the record-high inflation his administration has ushered in.
— Sen. Marsha Blackburn (@MarshaBlackburn) November 24, 2021
Biden made those remarks despite a looming debt ceiling crisis, an ongoing supply chain crisis and skyrocketing inflation that Federal Reserve chair Jerome Powell said this week has no end in site. He attempted to downplay the ongoing supply chain woes while claiming his policies are responsible for helping ease bottlenecks
“If you’ve watched the news recently you might think the shelves in all out stores are empty across the country, that parents won’t be able to get presents for their children this holiday season, but here’s the deal — for the vast majority of the country that’s not what’s happening,” Biden stated. “Because of the actions the administration has taken…those shelves are going to be stocked.”
However, experts say there are still huge challenges when it comes to the nation’s supply chain. On Wednesday, a major federal reserve survey pointed out the ongoing supply chain bottlenecks continue to push inflation upwards. Businesses nationwide are still expressing concerns over when the supply chain is expected to fully recover.
Meanwhile, Biden also touted the release of 50 million barrels of oil from the national oil reserves, which he claims will ease gas prices. However, many economists point out this accounts for only three days worth of oil and will likely have little affect on consumers.
“Last week, I announced the largest ever release of the United States Strategic Petroleum Reserve to increase the supply of oil and help bring down prices,” he explained.
Biden falsely blamed America’s energy producers for the high prices of fuel, accusing oil companies of “uncompetitive behavior.” However, U.S. gas prices went up after he canceled the Keystone XL pipeline and banned drilling on federal lands earlier this year.
He then claimed other countries have high inflation as well, but failed to mention it’s not as high as in the U.S. In reality, U.S. inflation was 6.2 percent last month, which is above 4.2 percent inflation in Britain, 5.2 percent in Germany and 4.7 percent in Canada.
Biden is doing everything he can to hike his hidden inflation tax even higher through his Build Back Broke agenda.
— GOP (@GOP) December 1, 2021
Biden then took time to tout his trillions dollar social spending agenda, repeating the false claim it would “pay for itself.” Last month, the CBO released a report showing Biden’s Build Back Better agenda would increase the federal deficit by $367 billion over the next decade. The report also found it would cost taxpayers $1.7 trillion over that same time period.