Joe Biden's Bidenflation outright lie

It's time Republicans stopped talking about Joe Biden's gaffes. What he's doing isn't committing gaffe-after-gaffe. Far too often, Biden's just lying. After the monthly CPI report came out, he said "Look, we have dramatically reduced inflation from 9% down to close to 3%. We’re in a situation where we’re better situated than we were when we took office where we — inflation was skyrocketing."

Fox is reporting that "according to Bureau of Labor Statistics data, inflation was recorded at just 1.4% in January 2021 when Biden took office. It remained below 3% until April 2021, when it surged 4.2% and continued increasing until it hit a 40-year high of 9.1%." Further, the average price for a gallon of gasoline nationwide was $2.39. Meanwhile, the U.S. economy was growing at a 6.5% annualized rate when Trump left. All Biden had to do was keep Trump's policies intact.

Instead of keeping what was working intact, Biden blew it up with the American Rescue Plan, which spent $1,900,000,000,000. That's what triggered the inflation. Biden incinerated Trump's energy policies, which produced energy independence. Within a year, the average gallon of gasoline skyrocketed to $5.01. These inflationary trends didn't start until the end of the first quarter of FY2021.

Biden's timeline matters

"When the President took office, the pandemic was dramatically disrupting our economy, from our supply chains to spending patterns," White House spokesperson Michael Kikukawa told FOX Business in a statement. "That caused inflation around the world to increase, and spike even further due to Russia’s war in Ukraine. In fact, many other countries saw even worse inflation."
"That’s why President Biden took historic action to fight inflation, from his aggressive work on supply chains to releases from the Strategic Petroleum Reserve," he continued.
That's a pile of lies.

"When the President took office, the pandemic was dramatically disrupting our economy.

First, states like Georgia, Florida, Tennessee and Texas opened up their economies before Memorial Day, 2020. South Dakota didn't close. Period. Next, the GDP for Q3 of 2020 was 33.5%, followed by 4.8% in Q4, followed by 6.5% in Q1 of 2021. Third, most red states had their kids back in public schools for in-person learning by Labor Day, 2021.

"That caused inflation around the world to increase — and spike even further due to Russia’s war in Ukraine.

Russia didn't invade Ukraine until Feb. 24, 2022. Randi Weingarten and the AFT had more to do with inflation than Russia had by keeping schools shut for in-person learning. Keeping schools closed caused businesses to not open fully. In states that opened to in-person learning, the shutdown was dramatically less severe.

President Biden took historic action to fight inflation — from his aggressive work on supply chains to releases from the Strategic Petroleum Reserve," he continued.

Biden didn't tap the SPR until after Russia invaded Ukraine. Further, he tapped the SPR to keep gas prices cheap before the midterm elections. At the time, gas prices were closest in U.S. history. Finally, gas prices were high because Biden started his war on fossil fuels on his first day in office.

Had Biden not attacked the oil industry, Russia's attack on Ukraine wouldn't have sent much more than a minor shock into prices. Putin's price hike would've caused a minor spike in prices. Biden has tapped into the SPR multiple times, the first time being in November, 2021. The next time he tapped into the SPR was March 31, 2022. This is stunning:

When Biden tapped the SPR to the tune of 1,000,000 BPD, gas prices had risen "47% from a year ago." That disrupts the Biden administration's storyline entirely, doesn't it?

Comments

Popular posts from this blog

Tim Walz's Confederate Flag Fiasco

What is Kamala Harris afraid of?

Why is Joe Biden letting Hamas off the hook?