The Patriot Post® · Biden's Inflation Blame Game

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.
  • Instead, Biden is laughing at Americans struggling to afford food, gas, and housing because he wasted their money.
• Now Biden and his White House are spreading lies in attempt to deflect blame from his own failures.
  • The American people see through Biden’s gaslighting, and overwhelmingly blame him for the current state of the economy.
• With inflation already at a 40-year high, experts predict rising prices are here to stay.
  • High gas prices are even expected to increase this summer, with GasBuddy Head Petroleum analyst Patrick De Haan saying, “it’s not going to be a good summer for motorists.”

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.
  • The Washington Post fact checker gave Biden three Pinocchios for this “false claim.”
• In reality, it’s Biden who wants to raise taxes on Americans of all income levels, with his latest budget proposal including 36 tax hikes totaling “$2.5 trillion in new or increased taxes.” 
• As the taxman-in-chief, Biden has proposed increasing the business tax rate from 21 percent to 28 percent.
  • This would shrink the economy and eliminate 145,000 jobs in just the next ten years.
  • Under Biden’s plan, the U.S. would have a higher business tax rate than Communist China.
• Biden has even proposed letting the 2017 Tax Cuts and Jobs Act expire, which would cut the standard deduction for Americans in half.

BIDEN’S DEFICIT LIES

• Biden is distorting reality when he says he reduced the deficit.
  • Even Biden’s favorite economics firm, Moody’s Analytics, says so: “The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones.”
  • Senior Vice-President at the Committee for a Responsible Federal Budget (CRFB) Marc Goldwein: “It’s pretty silly. He [Biden] didn’t cut the deficit, he increased it.”
  • The deficit under Biden is bigger than what the CBO projected it would be if he stuck with Trump policies.
• Along with lying about the debt he has already added, Biden has also falsely claimed that he will reduce the deficit over the coming decade.
  • The CRFB estimates that $2.5 trillion has been added to the deficit over the next 10 years as a result of Biden’s actions.

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.
  • According to a Gallup poll, just two percent of Americans say the economy is in “excellent” condition, while 76 percent of Americans say the economy is getting worse.
  • Just 28 percent of Americans approve of Biden’s handling of the economy according to an ABC News/Washington Post poll. 
  • 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 CNN poll.
  • 65 percent of Americans believe inflation will be a major issue for at least a year, with 45 percent believing inflation will be a major issue for more than a year according to a Fox News poll.

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.
  • Americans have seen a stifled economy with historic inflation, falling real wages, and a declining standard of living for Americans.
  • The U.S. economy shrank 1.4 percent on an annualized rate last quarter – well below economists’ expectations.
• In much the same way Biden claimed he was not concerned about inflation, Biden is now “not concerned about a recession” despite rising concerns from economists.
  • This comes as Biden’s own Labor Secretary Marty Walsh said “it is a real likelihood” the United States will have a recession.
  • Biden’s economic adviser Jared Bernstein refused to rule out a recession.
  • Former Obama economic advisor Steven Rattner: “The forecast of growth dropped … starting to bump along the bottom before we potentially dip into negative territory.”
  • Top Biden economic advisor Brian Deese when asked if the U.S. will go into a recession: “We’re in uncertain territory.” 

  Originally posted here.