Tipsheet

White House Chief of Staff Tries to Spin Inflation With Another Bad Twitter Take

Katie Pavlich
Katie Pavlich  |  October 13, 2022 2:45 PM

As Spencer reported Thursday morning, inflation continues to rage out of control. Despite the Biden administration and many Democrats on the campaign trail claiming prices have peaked, the dial on the index continues to go up with no end in sight as the Federal Reserve attempts to tamp down costs with interest rate hikes. 

One group of Americans getting hit particularly hard by an 8.2 percent average rate of inflation on basic goods are seniors on Social Security and a fixed income. The Social Security Administration just announced recipients will receive the largest cost of living increase since the early 1980s. 

"Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. The Social Security Administration announced the change Thursday. It will result in a benefit increase of more than $140 per month on average starting in January," CNBC reports. "The average Social Security retiree benefit will increase $146 per month, to $1,827 in 2023, from $1,681 in 2022."

And yet, White House Chief of Staff Ron Klain is spinning the news as a good sign. 

One year ago exactly, Klain called inflation a "high class problem" as it started to ravish middle and lower-class household budgets across the country. 

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Meanwhile, the average American family is paying $1000 more each month for basic necessities like food and energy. Inflation is also erasing wage gains for the majority of workers.