Joe Biden just gaslighted the country again with another provable lie

Photo by Gage Skidmore, CC BY-SA 2.0, via Flickr, https://creativecommons.org/licenses/by-sa/2.0/

Prices are going through the roof, and President Joe Biden just cannot seem to get a handle on the rampant inflation.

When his handlers allow him to speak to voters, he just says everything is perfect, and there is no problem.

But this may be the biggest demonstrable lie he has made yet about the economy.

Biden says inflation was “skyrocketing” when he took office

This week, President Biden claimed that inflation was going sky-high when he took office, back in January 2021, although federal data shows something completely different.

The comments came not long after the newest Consumer Price Index numbers were revealed, which show annual inflation has accelerated faster than expected for the third month in a row.

When he was asked about inflation remaining high, the President said that the rate of price increases came down over the last two years, adding that he simply inherited the economic pain the country is facing today.

During a press conference, Biden said, “Look, we have dramatically reduced inflation from 9% down to close to 3%. We’re in a situation where we’re better situated than we were when we took office where we – inflation was skyrocketing.”

Biden also noted that his administration has a “sustainable plan” to deal with the inflation problem, adding that Republicans are focused on cutting taxes for the wealthy while raising taxes “on other people.”

Bureau of Labor Statistics data shows that inflation was at a low 1.4% in January 2021 when Biden took office.

Inflation remained below 3% until April 2021, when it surged by 4.2% and kept increasing until it finally hit a 40-year high of 9.1%.

The CPI has steadily declined since then, decreasing every month until December, when it went from 3.1% to 3.4%.

Inflation fell again in January but increased in February to 3.2% and to 3.5% in March, according to the latest data.

The high inflation levels don’t bode well for the US economy and will most likely keep the Federal Reserve from lowering interest rates, at least for the next several months.

The Federal Reserve typically prefers to see a national inflation rate of approximately 2%.

The White House holds the line

White House spokesperson Michael Kikukawa told FOX Business, “When the President took office, the pandemic was dramatically disrupting our economy – from our supply chains to spending patterns. That caused inflation around the world to increase – and spike even further due to Russia’s war in Ukraine. In fact, many other countries saw even worse inflation.”

He added, “That’s why President Biden took historic action to fight inflation – from his aggressive work on supply chains to releases from the Strategic Petroleum Reserve.”

High rates of inflation have created extreme financial pressure for most American households who are now having to pay much more for everyday necessities, including rent and groceries.

Low-income Americans bear the most burden when prices are high, and they already have to stretch their budgets just to make ends meet.

Regarding the latest CPI numbers, Navy Federal Credit Union’s corporate economist Robert Frick said, “This was a painful report with few bright spots for consumers.”

Informed American will keep you up-to-date on any developments to this ongoing story.