Speaking to House Democrats at their winter retreat in Philadelphia Friday afternoon, President Joe Biden started yelling at Americans who pin inflation on excessive government spending.
"I'm sick of this stuff!" Biden screamed, throwing his arms in the air. "The American people think the reason for inflation is government spending more money. Simply not true."
“I’m SICK of this stuff!”
— Townhall.com (@townhallcom) March 11, 2022
Joe Biden is furious that Americans blame inflation on his government spending. pic.twitter.com/quRxB2lfvA
But it is true. Take a look at the rise in inflation after Biden's $1.9 trillion American Rescue Plan was passed and signed.
????Happy Birthday American Rescue Plan????
— Charles V Payne (@cvpayne) March 11, 2022
CPI +7.9% (highest o 4 decades)
Gasoline +38%
Used Vehicles +41%
Food at Home +8.6%
* Food at elementary schools -53% because too many children still forced to "learn" from home.
Real Wages in freefall
Note: free money ain't free pic.twitter.com/bLhCKLOEC7
This week's Consumer Price Index report not only showed inflation at the highest level since 1982, but broke historic records for price increases on essential goods.
Many price increases are the **highest ever recorded** by @BLS_gov
— Heather Long (@byHeatherLong) March 10, 2022
Hotels +29%
Furniture +17.1
Chicken +13.2
New cars & trucks +12.4
Flooring +11.3
Lunchmeat +11
Dry clean +9.5%
Tools +8.7
Baby food +8.4
Full service restaurant +7.5
Pet supplies +7.5
Toys +6.7
Car repair +6.7
During an interview with CNBC Thursday afternoon, Treasury Secretary Janet Yellen warned inflation is here to stay.
Today Jen Psaki said that prices increases, especially in energy, would be "temporary, and not long lasting."
— Townhall.com (@townhallcom) March 10, 2022
Just HOURS later, Janet Yellen says "we're likely to see another year in which 12-month inflation numbers remain very uncomfortably high." pic.twitter.com/uM0sCU247q