We covered the latest inflation report and Joe Biden's lame attempt to blame everyone else yesterday. The Republican National Committee also weighed in:
BIDENFLATION HURTS AMERICANS
- Biden is responsible for an economy that's crushing Americans, yet he doesn't care.
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<li>Instead, Biden is <a href="https://twitter.com/RNCResearch/status/1520593566770290689?s=20&t=4zTa2drFS9wPiKbxjNBkkw">laughing at Americans</a> struggling to afford food, gas, and housing because he wasted their money.</li>
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<li>Now Biden and his White House are spreading lies in attempt to deflect blame from his own failures.
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<li>The American people see through Biden's gaslighting, and <a href="https://gop.com/rapid-response/its-biden-vs-americans-on-the-economy/">overwhelmingly blame him</a> for the current state of the economy.</li>
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<li>With inflation already at a 40-year high, <a href="https://www.foxnews.com/media/inflation-nation-experts-rising-prices-here-to-stay">experts predict rising prices</a> are here to stay.
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<li>High gas prices are even expected to <a href="https://money.usnews.com/money/personal-finance/spending/articles/how-to-plan-for-soaring-summer-gas-prices">increase</a> this summer, with <a href="https://www.newsnationnow.com/business/your-money/not-going-to-be-a-good-summer-why-gas-prices-are-still-high/">GasBuddy Head Petroleum analyst Patrick De Haan</a> saying, "it's not going to be a good summer for motorists."</li>
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EVEN LIBERALS SAY BIDEN'S SPENDING FUELED INFLATION
- The Biden administration is attempting to blame everyone but Biden's own policies for the skyrocketing inflation Americans are facing.
- White House Press Secretary Jen Psaki blamed Republicans for inflation despite numerous economists placing responsibility squarely on Biden.
- Former Obama and Clinton economist Larry Summers: The "tremendous wall of money" that the Democrats "released last Spring" has led to inflation.
- Former Obama economist Jason Furman: Biden's spending is "too big ... don't know any economist" who supported that much.
- Former Obama economic advisor Steven Rattner: "The original sin" was passing the $1.9 trillion, which has "contributed materially to today's inflation levels."
- Rattner: "This is Biden's inflation and he needs to own it."
- Biden's Treasury Secretary Janet Yellen: Biden's $1.9 trillion stimulus was one of the "factors that are involved in inflation."
- Biden's inflation is a "hidden tax" that is hitting Americans' pocketbooksand leading to smaller paychecks.
- In 2021, the Penn Wharton Budget Model estimated the average American family paid $3,500 in extra costs due to inflation.
- In 2022, Bidenflation is expected to cost American families an additional $5,200 according to a Bloomberg analysis.
BIDEN'S "TAX HIKE" LIE
- In another effort to shift blame, Biden is attempting to gaslight Americans into believing that it is Republicans who want to raise taxes.
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<li><em>The Washington Post</em> fact checker gave Biden <a href="https://www.washingtonpost.com/politics/2022/04/21/bidens-false-claim-that-congressional-republicans-want-raise-taxes/">three Pinocchios</a> for this "false claim."</li>
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<li>In reality, it's Biden who wants to raise taxes on <a href="https://gop.com/research/the-tax-burden-of-biden-rsr/">Americans of all income levels</a>, with his latest budget proposal including <a href="https://www.atr.org/biden-budget-calls-for-36-tax-hikes-totaling-2-5-trillion/">36 tax hikes</a> totaling "<a href="https://twitter.com/BudgetGOP/status/1508482045462339586">$2.5 trillion in new or increased taxes</a>." </li>
<li>As the taxman-in-chief, Biden has proposed increasing the business tax rate from <a href="https://www.whitehouse.gov/wp-content/uploads/2022/03/budget_fy2023.pdf">21 percent to 28 percent.</a>
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<li>This would <a href="https://taxfoundation.org/biden-budget-tax/">shrink the economy and eliminate 145,000 jobs</a> in just the next ten years.</li>
<li>Under Biden's plan, the U.S. would have a higher business tax rate than <a href="https://www.atr.org/biden-budget-calls-for-36-tax-hikes-totaling-2-5-trillion/">Communist China</a>.</li>
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<li>Biden has even proposed <a href="https://www.dailysignal.com/2022/04/07/dont-be-fooled-by-bidens-only-taxing-the-rich-claims/">letting the 2017 Tax Cuts and Jobs Act expire</a>, which would cut the standard deduction for Americans in half.</li>
BIDEN'S DEFICIT LIES
- Biden is distorting reality when he says he reduced the deficit.
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<li>Even Biden's favorite economics firm, <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DeSqa04CuJZQ&data=05%7C01%7CEKorpela%40gop.com%7C9900ce7a00c34d55cb0b08da31d5a919%7C4a082c81950a410d9618462a9c74d6ae%7C1%7C0%7C637877091001189018%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Mtx%2BTBYf2aibXhI9uOBH8dG6VwvpURfHNHl%2FyDwMop4%3D&reserved=0">Moody's Analytics</a>, says so: "The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones."</li>
<li><a href="https://www.factcheck.org/2022/04/bidens-deficit-spin/">Senior Vice-President at the Committee for a Responsible Federal Budget (CRFB) Marc Goldwein</a>: "It's pretty silly. He [Biden] didn't cut the deficit, he increased it."</li>
<li>The deficit under Biden is bigger than what the CBO <a href="https://www.cnn.com/2022/05/09/politics/fact-check-biden-deficit-reduction/index.html">projected</a> it would be if he stuck with Trump policies.</li>
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<li>Along with lying about the debt he has already added, Biden has also <a href="https://twitter.com/RNCResearch/status/1488936394617671682?s=20&t=vVGHYcob8dC_nZ7XDJaDsg">falsely claimed that he will reduce the deficit</a> over the coming decade.
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<li>The CRFB estimates that <a href="https://www.crfb.org/blogs/no-president-biden-has-not-implemented-historic-deficit-reduction">$2.5 trillion has been added to the deficit</a> over the next 10 years as a result of Biden's actions.</li>
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AMERICANS BLAME BIDEN FOR THE POOR ECONOMY
- Poll after poll shows that Americans disapprove of the job Biden is doing handling the economy and inflation.
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<li>According to a <a href="https://news.gallup.com/poll/392159/inflation-concerns-fueling-low-economic-confidence.aspx?utm_source=alert&utm_medium=email&utm_content=morelink&utm_campaign=syndication">Gallup poll</a>, just two percent of Americans say the economy is in "excellent" condition, while 76 percent of Americans say the economy is getting worse.</li>
<li>Just 28 percent of Americans approve of Biden's handling of the economy according to an <a href="https://nypost.com/2022/05/02/a-third-of-americans-approve-of-bidens-performance-on-economy/">ABC News/Washington Post poll</a>. </li>
<li>66 percent of Americans disapprove of Biden's handling of the economy, and 55 percent believe Biden's policies have "worsened economic conditions" according to <a href="https://www.cnn.com/2022/05/04/politics/cnn-poll-economy-biden-approval/index.html">a CNN poll</a>.</li>
<li><a href="https://www.foxnews.com/official-polls/05-03-22-fox-news-poll-voters-are-most-worried-about-inflation-and-the-countrys-future">65 percent of Americans believe inflation will be a major issue for at least a year</a>, with 45 percent believing inflation will be a major issue for more than a year according to a Fox News poll.</li>
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ECONOMISTS WARN A RECESSION IS ON THE WAY
- Biden spent $1.9 trillion last year, only to see the economy worsen in the following months.
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<li>Americans have seen a stifled economy with <a href="https://www.cnbc.com/2022/04/12/consumer-prices-rose-8point5percent-in-march-slightly-hotter-than-expected.html">historic inflation</a>, <a href="https://www.cnn.com/2022/04/29/economy/inflation-worker-compensation/index.html">falling real wages</a>, and a <a href="https://twitter.com/RNCResearch/status/1499413870879854596?s=20&t=YVPS7i1diVXCoSflvnwMIA">declining standard</a> of <a href="https://twitter.com/RNCResearch/status/1499439758401019906">living for Americans</a>.</li>
<li>The U.S. economy <a href="https://www.cnbc.com/2022/04/28/us-q1-gdp-growth.html">shrank 1.4 percent</a> on an annualized rate last quarter – well below economists' expectations.</li>
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<li>In much the same way Biden claimed he was not concerned about inflation, <a href="https://twitter.com/RNCResearch/status/1519707602246062081?s=20&t=vVGHYcob8dC_nZ7XDJaDsg">Biden is now</a> "not concerned about a recession" despite rising concerns from economists.
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<li>This comes as Biden's own Labor Secretary Marty Walsh said "<a href="https://twitter.com/RNCResearch/status/1519409151377616898?s=20&t=vVGHYcob8dC_nZ7XDJaDsg">it is a real likelihood</a>" the United States will have a recession.</li>
<li>Biden's economic adviser Jared Bernstein <a href="https://twitter.com/RNCResearch/status/1522216127530618887?s=20&t=f-rDXwnCgtwAMlj0blABpQ">refused to rule out a recession</a>.</li>
<li><a href="https://twitter.com/RNCResearch/status/1522209424500301824?s=20&t=vVGHYcob8dC_nZ7XDJaDsg">Former Obama economic advisor Steven Rattner</a>: "The forecast of growth dropped ... starting to bump along the bottom before we potentially dip into negative territory."</li>
<li><a href="https://twitter.com/RNCResearch/status/1507096400684847111?s=20&t=vVGHYcob8dC_nZ7XDJaDsg">Top Biden economic advisor Brian Deese</a> when asked if the U.S. will go into a recession: "We're in uncertain territory." </li>
