Biden Shouts “I’m Sick of This Stuff!” — Blames Putin, Oil Executives, Wall Street, and Spending Patterns for Inflation, but Not His Own Policies

On 3/11/2022, President Biden shouted “I’m sick of this stuff!” at the House Democratic Caucus Conference in Philadelphia, insisting that “the American people think the reason for inflation is government spending more money — simply not true!” Biden blamed inflation on four different causes — Putin, oil executives, Wall Street bankers, and consumer spending patterns — while adamantly refusing to acknowledge any role played by his own energy or fiscal policies. VP Harris failed to answer a question about gas prices in Romania, instead talking about the Black Sea. Biden defended killing the Keystone Pipeline by shouting “give me a break!"

"Simply Not True!”

Biden delivered his most animated defense against inflation blame. “I’m sick of this stuff! We have to talk about it because the American people think the reason for inflation is government spending more money. Simply not true,” Biden shouted to the Democratic caucus.

“Democrats didn’t cause this problem. Vladimir Putin did,” Biden said. “Make no mistake — inflation is largely the fault of Putin.”

He claimed the American Rescue Plan “contributed to zero — 0.3% of inflation. Zero. 0.3. Those are the facts.”

Four Blame Targets — Not Biden

The video catalogued Biden’s shifting blame for record inflation and gas prices:

Blame 1 — Putin: “Make no mistake, inflation is largely the fault of Putin.” Biden called it “Putin’s gas hike” and said price increases “started weeks leading up to what happened there.”

Blame 2 — Oil executives: “The oil companies and executives — they don’t want to pump more oil although they have every capacity to do so. Nothing is slowing them up from doing it if they want to,” Biden said. “Why rather than spend the profits and the increased price of gasoline, they would rather take those profits and buy back stock — buy back their own stock — rather than take that money and invest it in pumping new oil.”

Blame 3 — Wall Street: “There’s an impediment to production in the United States, and it’s called the bankers on Wall Street,” Biden claimed.

Blame 4 — Consumer spending patterns: “People had money to spend, but they didn’t want to go to restaurants. They didn’t want to go on vacations. They didn’t spend money on leisure activities. So they wanted to spend it on other things — hard goods, home improvements, televisions, additions to their homes. So what happened? Prices went up exponentially,” Biden said.

Notably absent from the list: Biden’s own executive orders killing the Keystone Pipeline, halting federal land leasing, and pursuing a regulatory agenda aimed at eliminating fossil fuels.

”Give Me a Break!” on Keystone

Biden defended canceling the Keystone Pipeline with a dismissive claim. “I love the Republicans saying it’s Biden’s gas pipeline. Biden said he’s going to stop the Keystone Pipeline, and I did — and that’s the reason prices went up,” Biden said mockingly. “Folks, let’s get something straight here. The Keystone Pipeline was two years away and had been 2% finished. Give me a break! Give me a break!”

Harris Talks About the Black Sea Instead of Gas Prices

In Romania, VP Harris was asked directly about historic gas prices. “How long should Americans expect — how long should we be bracing for — this historic inflation and some unprecedented gas prices?” a reporter asked.

After a long pause, Harris pivoted entirely. “In terms of the discussions that the President Iohannis and I had, they ranged in subject, including the issue of the Black Sea,” Harris said. “We are fully aware and apprised because we are in constant communication with the president — with his administration here — about the concerns that they have about the entire region and frankly the vulnerability. All you have to do is look at the map.”

The answer addressed nothing about gas prices or inflation.

Moscow Stock Exchange: “It Will Blow Up”

Biden whispered dramatically about the Russian stock market. “Moscow stock exchange closed for a simple reason. I get asked, well, why is it closed? Because for the last two weeks — because the moment it opens, it will be disbanded. You hear me? It will blow up,” Biden said in his characteristic whisper.

Build Back Better Won’t Raise Taxes — Again

Biden repeated his signature claim. “No one making less than $400,000 a year will pay a single additional penny in tax for all these things that were in the Build Back Better plan,” he said. He cited “17 Nobel laureates” saying his plan would “help ease inflationary pressures over time."

"The Most Important Off-Year Election”

Biden framed the midterms in existential terms. “This off-year election, in my view, may be the most important off-year election in modern history,” Biden said. “Because we know what happens. We know the fundamental change that shifts if we lose the House and Senate. The only thing I’ll have then is a veto pen.”

Key Takeaways

Biden shouted “I’m sick of this stuff!” and insisted government spending was “simply not true” as a cause of inflation, claiming the ARP contributed only “0.3% of inflation.”
He blamed four targets — Putin, oil executives, Wall Street bankers, and consumer spending patterns — while excluding his own energy policies.
Biden defended killing Keystone by saying it “was two years away and had been 2% finished — give me a break!”
Harris was asked about gas prices in Romania and responded by discussing the Black Sea.
Biden whispered about the Moscow stock exchange: “The moment it opens, it will blow up. You hear me?”

Transcript Highlights

The following is transcribed from the video audio (unverified — AI-generated from audio).

I’m sick of this stuff! The American people think the reason for inflation is government spending more money. Simply not true!
Make no mistake — inflation is largely the fault of Putin. Democrats didn’t cause this problem. Vladimir Putin did.
The Keystone Pipeline was two years away and had been 2% finished. Give me a break!
How long should we be bracing for historic inflation? In terms of the discussions, they ranged in subject including the issue of the Black Sea.
Moscow stock exchange — the moment it opens, it will blow up. You hear me?
The oil companies don’t want to pump more oil. They’d rather buy back their own stock. There’s an impediment called the bankers on Wall Street.

Full transcript: 1052 words transcribed via Whisper AI.