President Biden denies historic US inflation

President Biden denies historic US inflation

President Joe Biden distorted the truth during a Thursday interview in which he stated the United States was not experiencing record inflation.

After having already lied about petrol prices being lower than when he took office, he was questioned by a reporter about America’s 8.2% inflation rate.

The News Nation reporter asked, “You’ve referred to the midterm election as a choice rather than a referendum. Why, in light of unprecedented inflation, should people select the Democrats?’

Biden responded, ‘Because it’s no longer record inflation, I’m lowering it. Observe what we inherited.

Despite a minor decline from a 40-year high of 9.1 percent in June, the current inflation rate of 8.2 percent is still greater than any time in the previous four decades.

In only 11 days, Americans will elect a new Congress and a substantial portion of the Senate.

Inflation and the economy are the most significant problems facing voters, according to a Suffolk University/USA Today poll, with 36.7% preferring it over abortion, who controls Congress, immigration, and crime.

Earlier this week, it was reported that the country’s gross domestic product increased by 2.6% in the third quarter of 2022, the first increase since the fourth quarter of 2021.

Biden stated, ‘We’re down $1.25 since the summer’s peak, and they’ve been declining for the past three weeks as well, adding up to real savings for families today.’

“The average price of gasoline in the United States is now $3.39, down from over $5 when I assumed office,” he said.

Thursday, the average price of a gallon of gas on the AAA website was $3.76. According to the Energy Information Institute, the average price was $2.39 when he started office, or roughly half of what he said it was then.

Additionally, he accused Shell oil of squandering its record earnings reported on Thursday. The corporation reported earlier that its profit for the third quarter was nearly a record $9.45 billion. Biden criticizes oil companies and refineries of failing to pass savings on to customers.

During a trip to Syracuse, New York, where he attended law school and met his first wife, Nelia Hunter, Biden made the remarks. Numerous family members were present. It occurred as Democrats struggle to maintain control of Congress.

Even in blue areas like New York, his party faces headwinds, and Vice President Biden attacked Donald Trump on the economy amid criticism that Democrats placed too much emphasis on abortion issues after the Supreme Court overturned Roe v. Wade.

Biden stated, “The last president made a series of failed promises in states like as Wisconsin, Indiana, and Ohio.” On my watch, we have fulfilled our obligations. Made in America is not simply a slogan under my administration; it is a reality.

He stated, “My predecessor was the only president since Herbert Hoover to lose jobs over his whole presidency.” This reference covered the 2,9 million jobs lost as a result of the pandemic, which wiped out previous employment gains.

Biden was promoting Micron Technology Inc.’s plans to invest up to $100 billion in computer chip production, as well as the Chips & Science Act. Senators Charles Schumer, the majority leader, and Kyrsten Gillibrand were present (D-N.Y.).

Previously, Vice President Biden visited Onondaga Community College and toured Micron Pavilion with Micron President and CEO Sanjay Mehrotra and Central & Northern New York Trades Council President Greg Lancette.

Looking at a model of the planned Micron semiconductor facility, Vice President Biden said, ‘It’s nice that it’s returning home because we developed the suckers,’ eliciting laughter from Senator Kyrsten Gillibrand.

»President Biden denies historic US inflation«

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