Biden Issues Odd Claim In Light Of Yet Another Dismal Inflation Report

Old Uncle Joe sounded spoke out with considerable economic optimism this past Friday in the wake of the inflation metric most utilized by the Federal Reserve continuing to increase.

The Personal Consumption Expenditures Price Index climbed by roughly 5.4% between the period of January 2022 and January 2023, while the version of the measure does not include the more volatile categories such as energy and food rose by 4.7% over the same time period, as reported by data released by the Bureau of Economic Analysis. Both figures quickly surpass the expectations of the analysts.

Biden responded to the released data by making the claim that “we have made progress on inflation, but we have more work to do.” He bragged about the efforts from members of his administration to cut prices and stated that Republicans undermine the strength of the economy by standing against his current spending agenda.

“When I travel the country, I see optimism for this year and the years ahead. The optimism of families with just a little bit more breathing room thanks to our work to get workers back into jobs. The optimism of a record number of Americans applying to start a small business,” expressed the commander-in-chief in a release from the White House. “But the fight is not over. We must finish the job in transitioning to stable and steady growth that benefits all Americans, while laying the foundation for strong and shared growth for years to come.”

Those critical of the White House have stated that the claim is one of several misleading claims coming from senior officials about a possible recent decline in cost pressures. The most recent inflation report coming from the Bureau of Labor Statistics, which likewise showed continually elevated energy and food prices despite a lesser headline inflation number, occurred one week after Biden stated that “inflation is coming down” as part of his second State of the Union address.

The chairman of the House Ways and Means Committee, Jason Smith (R-MO), spoke up as part of a Friday statement to say that the administration “has no plan to bring down inflation” but nevertheless attempts to set up additional federal spending initiatives. “Families, farmers, and small businesses continue to suffer as a result of President Biden’s radical partisan agenda, yet he insists he will not abandon it,” he commented.

This response to the data from the Personal Consumption Expenditures Price Index comes just one day after Vice President Kamala Harris stated as part a speech that the administration has “reduced heating and electricity bills so folks have more money in their pocket to buy things like school supplies, replace the dishwasher, or take a family vacation.” The average cost of electricity has nonetheless spiked over 24% across the last two years, as reported by data from the Bureau of Labor Statistics, while the cost for utility natural gas spiked by 63% over that same period.


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