In a speech in Philadelphia on Tuesday, President Biden blasted congressional Republicans for record-high inflation.
In a speech to the American Federation of Labor and Congress of Industrial Organizations, Biden stated that his economic strategy, which depends on significant government spending, will help lower inflation, and that Republican resistance to that agenda is to blame for the present economic situation.
Joe Biden continues to claim 8.6% inflation is a global problem, yet Israel’s inflation is at 4% and Japan and China’s are at 2%.— Jake Evans (@JakeEvansGA) June 15, 2022
US inflation is at record levels because of failed Democrat policies.
“Under my plan for the economy we made extraordinary progress and put America in a position to tackle a worldwide problem that’s worse everywhere but here: inflation,” Biden said.
Biden continued, “The problem is, Republicans in Congress are doing everything they can to stop my plans to bring down costs on ordinary families. That’s why my plan is not finished, and the results aren’t finished either.”
“By the end of the fiscal year, we will have cut the federal deficit by another $1.6 trillion. In one year! So when they come to you and talk about big spenders, let ’em know: almost $2 trillion in deficit reduction. I don’t want to hear any more of these lies about reckless spending changing people’s lives! ,” Biden stated.
It’s also deceptive to tout deficit reduction when the deficit baseline was boosted by emergency Covid spending. It’s like bragging about record new employment creation when the fact is that we haven’t yet recovered all of the jobs lost due to the epidemic. It’s all about manipulating numbers.