Joe Biden: "it's the inflation, stupid"

Joe Biden loves talking about the jobs his economic policies have created. Each month on 'Jobs Report Friday', Biden pops out to brag about his administration having created the most jobs in the first 2 years of an administration. Similarly, Biden brags that inflation is coming down each month when the Bureau of Labor Statistics publishes its monthly CPI (Consumer Price Index) report.

What's actually the truth is that inflation isn't coming down. It just isn't going up as fast as it went up at the start of his administration. Further, Biden omits the fact that inflation has been rising for so long that it isn't just the month-over-month or year-over-year rates that matter. It's the cumulative effect of inflation during Biden's administration. 

People know that their paychecks don't stretch as far as they did during the Trump administration. Further, people know that the economy isn't growing like it did the first 3 years of the Trump administration. Rep. Doug Lamborn put it best when he queried "Democrats continue to assert that inflation under Biden is going down. Do they understand that Americans don’t get the thousands of dollars back that they spent as a result of their peak 9% inflation? Americans are financially worse off under Biden."

Rep. Lamborn isn't the only Republican noticing the sky-high inflation. Even Swamp-dweller Mitch McConnell has noticed:

We’ve now had 21 straight months above 5% annual inflation. A mind-boggling policy failure… And what does the White House have to say about it? Yesterday the President’s press secretary proclaimed, ‘the President’s economic plan is indeed working.’ So I guess the official White House position is that Democrats caused all this crushing inflation on purpose.'
This is Sen. McConnell's speech:

Larry Kudlow is more harsh:

All you need to know about Biden's economic performance is caught up in 2 sets of statistics. When Trump left office, inflation was 1.4% and the economy was growing at a 6.5% rate. By comparison, the economy grew grew by just 1% last year while inflation year-over-year is 6.4%. Let's use this Al Gore campaign phrase from 1992:

Under Joe Biden and the Democrats who voted unanimously for his agenda, economic growth is down while inflation is up. It's time to throw the bums out, starting with Joe Biden and his Cabinet.

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