Last month’s inflation rose to 7.9 percent compared to February 2021, a 40-year high, but the White House isn’t taking responsibility for the increase exacerbated by the Biden administration’s decision to relinquish the country’s energy independence and eagerness to pass massive spending bills.
According to the Bureau of Labor Statistics, February’s consumer price index rose 0.8 percent since January, and gas, shelter, and food were the largest contributors to the leap in American costs. Food index and home costs rose 1 percent and 1.4 percent, respectively, and were “the largest monthly increases since April 2020.” Gas prices, however, shot up 6.6 percent last month and “accounted for almost a third of the all items monthly increase.”
Even though the Biden administration has tried to blame astronomical prices at the pump on Vladimir Putin, the gasoline index has been steadily increasing since Biden waged a public war on domestic oil and gas production. Just this week, gas prices surpassed the 2008 record to be the highest in U.S. history.
Already, the White House is gearing up to blame skyrocketing inflation, which was present long before the Russia-Ukraine conflict, on current events instead of the Biden administration’s policy decisions.
Despite the fact that inflation has risen at an alarming rate since President Joe Biden assumed office, the administration has largely shrugged off Americans’ concerns about the rising price of groceries, gas, and other essential items.
Biden falsely claimed during his State of the Union Address last week that the solution to inflation is for businesses to “lower your costs, not your wages” even though in order to stay open, companies must raise their prices to pay for increasingly expensive goods.
White House Press Secretary Jen Psaki on Tuesday also tried to gaslight reporters into believing inflation is not as bad as it seems because “we’ve seen inflationary numbers go down month-to-month.” The truth is, however, that inflation has gone up every month since the beginning of Biden’s presidency.
In January, when inflation rose 0.6 percent, Psaki defended the nation’s record-high inflation by claiming that “real working families” still had financial “breathing room” that allowed them to cover all essential costs.
Shortly after Biden assumed office, the White House claimed that climbing inflation was a result of the presidential transition. Later, as prices took their toll on Americans contemplating who they should vote for in the 2022 midterms, Psaki blamed their frustrations on “corporate greed.”
The White House’s treatment of the alarming inflation rate is frustrating voters and the politicians who represent them. They’re beginning to see the eerie similarities between Biden’s track record and former President Jimmy Carter’s time in office.
“High inflation plus no economic growth plus fewer jobs is the trifecta that produces stagflation. Unless Biden dramatically changes course by implementing free-market reforms that boost business and commodity supply, including heeding our call to increase domestic oil production, stagflation threatens to define his presidency,” Alfredo Ortiz, president and CEO of Job Creators Network, said in a statement. “Biden’s presidency is morphing into a reincarnation of President Carter’s every day and stagflation would mark the culmination of this process.”