The Biden administration is responsible for many failures. Far too many to count in one article. But perhaps Joe’s biggest failure has been on the economy. Thanks to Biden’s reckless spending and shocking lack of leadership, we’ve suffered under 40-year inflation.
And economists don’t have happy news going into the new year.
On Tuesday’s broadcast of CNN’s “The Lead,” economist and President of Queens’ College Dr. Mohamed El-Erian predicted that inflation will be “sticky” at around 4%, twice the 2% target rate the Federal Reserve has and stated that some parts of the U.S. manufacturing sector “are already in recession.”
Most experts agree that inflation will stick around for a while. Even at 4%, that’s a four percent increase in the cost of everything–after nearly two years of rising prices. That means prices will continue to go up at a steady rate, even as the Federal Reserve puts pain on Americans by jacking up interest rates.
Apparently, Biden didn’t get this memo. Or he blatantly ignored it. Because he just made a shockingly inaccurate claim.
Reporter: “Can you say when you expect prices to get back to normal, Mr. President?”
President Biden: “I hope by the end of next year […] but I can’t make that prediction. I’m convinced they’re not going to go up.”
Reporter: "Can you say when you expect prices to get back to normal, Mr. President?"
President Biden: "I hope by the end of next year […] but I can't make that prediction. I'm convinced they're not going to go up." pic.twitter.com/BBSezwx9l1
— The Hill (@thehill) December 14, 2022
Uh… is Joe really this stupid? He first hedges his statement by saying he can’t make a “prediction.” But then he makes a prediction and claims he’s “convinced” prices won’t go up next year. What? Inflation is the definition of rising prices.
Inflation is currently at 7%, which means prices are increasing steadily by seven percent. Even modest predictions of 4% inflation next year still mean prices will be 4% more expensive.
Yet Biden’s “convinced” they won’t go up. Does he even know what he’s talking about at this point? This isn’t your grandpa just saying stuff. This is the “President of the United States.” What he says and does affect all of us. And he’s demonstrably wrong.
I’m “convinced” this guy’s not fit to stand in front of that microphone.
- Experts predict inflation will be “sticky” next year, with at least a 4% increasing prices.
- Biden claims prices will not go up next year, showing zero evidence of the claim.
- Biden has long ignored inflation and made false claims about the economy.