Joe Biden has helped to create one of the worst inflationary crises in American history.
And the latest inflation report shows just how bad the problem really is.
But now, Biden left jaws on the floor after making one shocking claim about inflation.
In the wake of the latest inflation report showing that the crisis is only getting worse with time, the American stock market tanked across the board as interest rates continued to climb higher.
News that inflation in September was still well over 8% also prompted the Federal Reserve to announce that it will almost certainly raise interest rates at least two more times this year after already raising them more than 3% so far.
The move comes at a time when inflation continues to run relatively unchecked across all sectors of the economy, but now, Joe Biden is voicing his own opinion on the inflationary crisis he helped to create, and his response to the September report left jaws on the floor.
Fox News reports, “President Biden was blasted after his comments attacking Republicans following the September inflation report on Thursday.
“Biden appeared in Los Angeles to deliver remarks on the Bipartisan Infrastructure Law and its impact on voters. His speech came after a new Consumer Price Index report revealed that inflation rose 8.2% in September compared with the same time last year, higher than initial predictions indicated.”
In Los Angeles, Biden did two remarkable things.
Not only did he accuse Republicans of being poised to make inflation worse if they win control of Congress in November, but he also claimed that he himself has done a fantastic job working to bring down inflation.
Both of these claims are patently absurd.
Republicans flipping both the House and Senate would likely bring inflation down, as they would be able to finally serve as a check on Joe Biden’s radical spending plans that require more borrowing and more money printing from the Federal Reserve to fund Congress’ spending desires.
This is a fact that even the Left admits, as they routinely attack anyone running against them for opposing their radical spending proposals on things like student loan bailouts, the Green New Deal, Build Back Better, and more.
On the second point however, Biden’s claims move from simply being absurd to being bizarre.
“Today’s reports, though, show some progress. Overall, inflation was 2% over the last three months. That’s down from 11% over the prior three months. That’s progress, but a lot of it has resulted from getting the cost of living at the gas pump down, now even in California, by more than $1 nationally,” Biden said.
At a time when inflation is well over 8% and breaking all expectations when it comes to stubbornly remaining high in spite of every effort by the Federal Reserve to bring the crisis under control, Biden is claiming that a lot of “progress” has been made in tackling inflation.
Perhaps more shockingly, Biden’s comments were made on the very same day that the September inflation report was released, blowing up his entire narrative on the spot.