We’ve come full circle.
First, inflation didn’t exist, and it was just transitory. Now Biden is using inflation to panic voters in a threat against the GOP.
When Biden took office, inflation was 1.4%, and gas prices were around $2.39. As of the writing of this post, inflation has hit 8.2% and gas is hovering around $3.91.
After denying inflation was a problem for months, the President claims that inflation will worsen if the GOP takes over the House and Senate.
The same person who caused inflation with reckless spending, then insisted it was “temporary,” “transitory,” “zero,” increasing by a “little bit” and by just an “inch” now says inflation will get “worse” if Republicans win. pic.twitter.com/eQJRFdfwNm
— RNC Research (@RNCResearch) October 13, 2022
Biden said that the September inflation report shows things are getting better.
“Today’s report shows some progress,” the President said.
BIDEN: “Today’s report shows, though, some progress” on inflation.
FACT CHECK: Core inflation increased at the highest rate since 1982. The consumer price index has been at or above 5% for 17 straight months. pic.twitter.com/3lkIEFQpZz
— RNC Research (@RNCResearch) October 13, 2022
On the same day Biden uttered those words, Yahoo Finance reported that core inflation hit a 40-year high.
From Yahoo Finance:
A closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation.
The core consumer price index, which excludes food and energy, increased 6.6% from a year ago, the highest level since 1982, Labor Department data showed Thursday. From a month earlier, the core CPI climbed 0.6% for a second month.
The overall CPI increased 0.4% last month, and was up 8.2% from a year earlier.
If Biden thinks inflation is bad now, just wait until October’s numbers come in because the Saudis are cutting production.
