President Biden said Monday that Congress needs to pass his sweeping economic agenda in order to tamp down rising inflation amid concerns that another burst of government spending will act as an accelerant to already rapidly rising consumer prices.
“As our economy has come roaring back, we’ve seen some price increases,” the president said, speaking from the White House. “Some folks have raised worries that could be a sign of persistent inflation. But that’s not our view.”
Biden said that his administration was doing “everything we can” to address the higher-than-expected inflation, but he pushed back against fears of persistent inflation and maintained his stance the recent surge in consumer prices is temporary.
– Read more at Fox Business
President Biden on Monday insisted that his massive spending plans aren’t causing price hikes on everything from bacon and bread to gas and electricity, saying inflation is “temporary” and “expected” after the COVID-19 pandemic.
Biden argued that about 60 percent of price increases are caused by “transitory effects” linked to COVID-19, such as shortages of lumber and semiconductors, and aren’t a sign of substantial long-term inflation linked to deficit spending.
“Our experts believe and the data show that most of the price increases we’ve seen were expected and are expected to be temporary. The reality is you can’t flip the global economics light back and not expect this to happen,” Biden said.
– Read more at the NY Post
Gas prices go up, transportation costs go up and as a result foods, goods and services go up. How is that for a dose of reality for all of the liberal economic Professors? Joe Biden, the second coming of Jimmy Carter’s inflation.
SINCE i doubt he’s ever bought anything himself, LET ALONE FILLS HIS OWN car up, i doubt he CARES what the prices are going up to.
All he has to do is send Hunter out for more money.
The Dishonorable, Socialist Democrat Party game plan is to lie, cheat and steal elections in order to take total control of the American people, increase Taxes on everything and bring American commerce and economy to its knees.
Then access power and retain it by any means available –
no matter the costs to the people, the government or the nation.
The Democrat Party’s motto: “RULE AND RUIN”.
It’s is a simple law of supply and demand, that when you flood the economy with trillions more printed dollars that chase the same fixed amount of goods, the prices rise,,,and they rise even faster when productive people are paid to stay home by the government, therefore lowering the amount of goods produced to be bid on by the flood of new money. Joe’s brain apparently has deteriorated to the point he just takes what his handlers tell him as truth, unable to process the information himself
IMO he’s been that way for a good decade or more now.. ITS JUST gotten worse the past 2 years.
Joe—you and AOC aren’t the brightest when it comes to economics. In a nutshell—you’re wrong.
never has worked and never will!
INFLATION USUALLY goes UP because of govt spending..
NOT DOWN!
Government spending on programs like this never have the intended effect, they only make the sponsors and the administration feel goo about themselves because they’ve ‘done something’!
That is the dumbest thing no Economist said…Never.
It’s the thinking of a man with Dementia!
Only problem, he is the President of the wealthiest, and most powerful Country on Earth!
AT the rate they are DRIVING our economy into the toilet, we won’t be the wealthiest nation for much longer..
Lying again, as usual. Dementia plus abysmal ignorance, delusion, or evil intent? Or some of all four?
Lying as normal.. ITS IN their DNA!