The final inflation numbers that came out this week before the midterms certainly weren't good news. Wednesday's numbers showed that the Producer Price Index (PPI) had prices increasing 0.4 percent in September for a 12-month increase of 8.5 percent, while Thursday's numbers showed that the Consumer Price Index (CPI) increased 0.4 percent in September, for a 12-month increase of 8.2 percent. President Joe Biden, however, sought to spin the numbers as "progress," despite how these numbers blew past predictions.
"Today’s report shows some progress in the fight against higher prices, even as we have more work to do," the president claimed. "Inflation over the last three months has averaged 2 percent, at an annualized rate. That’s down from 11 percent in the prior quarter."
While the president did pretend to acknowledge that he understands what Americans are going through, such words rang hollow. "Americans are squeezed by the cost of living: that’s been true for years, and they didn’t need today’s report to tell them that. It’s a key reason I ran for President. Working to give middle class families some breathing room in dealing with their costs is critical," he began his statement by saying. He also went on to claim that "fighting the global inflation that is affecting countries around the world and working families here at home is my top priority."
Biden's approval numbers on the economy show that Americans don't believe he understands their economic plight. RealClearPolitics has him at a 38.1 percent approval rating, while 58.7 percent disapprove. A Fox News poll from last month also highlighted voters' concerns with inflation, which has picked up over time. According to that poll, Biden has just a 29 percent approval rating on inflation, and 34 percent approval rating on the economy.
The president doesn't seem to be aware of those numbers or care much about that them, as he touted his supposed economic plans and successes. "Because of my economic plan, the United States is in a stronger position than any major economy to take on this challenge," he claimed, also going on to reference the misnamed "Inflation Reduction Act."
In closing, the president also made note of a plight for his party ahead of the midterm elections, now less than four weeks away. "If Republicans take control of Congress, everyday costs will go up--not down," he warned.
Biden made almost the exact same remarks about inflation while appearing in Los Angeles later that day, though he expanded upon his points about the midterms. "Democrats are working to bring down the cost of things and — that are talked about around the kitchen table, from prescription drugs, to health insurance, to energy bills, and so much more. We’re standing up for working people and their right to get a raise and get a better job," he claimed. "Republicans are campaigning every day on an agenda to raise your costs."
The polls also show that the American people don't agree with Biden on this issue either. Poll after poll shows that Republicans are more trusted when it comes to handling economic issues, like inflation, which is also voters' top concern.
Biden also went on to mention that "if Republicans win, inflation is going to get worse," also claiming "it's that simple."
BIDEN: "Republican wins, inflation is gonna get worse. It's that simple." pic.twitter.com/KhJO6f7Ggw
— Townhall.com (@townhallcom) October 13, 2022
White House Chief of Staff Ron Klain, as Katie highlighted, also tried to spin the numbers as good news, particularly as it applies to Social Security and Medicare. Biden took note and made that same point with his remarks in Los Angeles as well.
On Friday afternoon, the DNC sent out a press release email, highlighting how "Biden, Dems Deliver for American Families" and pointing to positive media coverage to back up such a claim. The point about Social Security benefits was further mentioned as well.
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