On 6/10/2022, Joe Biden delivered remarks on inflation and his non-existent plan to lower prices and tackle the supply chain issues from the Port of Los Angeles. Biden Downplays Inflation, “Every country in the world is getting a big bite and piece of this inflation worse than we are.” May inflation numbers came in higher than expected at 8.6% – the highest number in 40 years since 1981. The inflation rate was 1.4% when Joe Biden came into office. Now food prices climbed 10% year over year! This is the worst number since 1981. Biden blamed Vladimir Putin for the high inflation numbers and soaring gas prices. Biden also touted a slight decline from April in the so-called “core inflation” rate — which does not include fluctuations in prices of food and energy. But even that metric increased by 6% year-over-year in May, just above economists’ expectation of 5.9%.
Joe Biden stumbles as he reads from teleprompter, says he’s working to save families “mother”. Biden says he discussed gas prices at table as a kid, but gas prices were flat during his childhood. He said that sometimes politicians make him “viscerally angry”: “you’d wanna pop ‘Em”. Biden claimed that the US was actually faring well compared to other countries. “Every country in the world is getting a big bite and piece of this inflation — worse than we are and the vast majority of countries around the world,” he claimed. However, the average Eurozone inflation rate in May was 8.1% — a half-percent lower than in the US.
Biden blames Putin, oil companies, shipping companies and Congress after data showed annual price spikes hitting another 40-year high last month. “We’ve never seen anything like Putin’s tax on food and gas.” “Exxon made more money than God this year” “My Administration will continue to do everything we can to lower prices for the American people. Congress must act urgently as well,” Biden said. “I call on Congress to pass a bill to cut shipping costs this month, and get it to my desk”
The solution, Biden said, was more government spending — despite critics including Republicans, federal bankers and Washington Post owner/Amazon founder Jeff Bezos saying that excessive stimulus contributed to the problem. “if Congress would pass tax reform to make the wealthiest Americans and big corporations pay their fair share, we could reduce this inflationary pressure even more. These are the most significant things Congress can do to help families now and complement the Federal Reserve’s efforts to bring inflation down.”
Critics often blame inflation on Biden’s policies, including his $1.9 trillion American Rescue Plan Act that bailed out state and local governments, gave $1,400 stimulus checks to most Americans, extended a $300 weekly unemployment supplement and expanded the annual child tax credit to $3,000-$3,600.
On 6/10/2022, Biden participated in the inaugural ceremony of the Ninth Summit of the Americas at the Microsoft Theater in Los Angeles. He got heckled by far-left environmentalists at the Summit of Americas. A far-left activist shouted, “No more fossil fuels!” as Biden delivered remarks.
Barack Obama spoke on Friday at the Copenhagen Democracy Summit where he endorsed cancel culture and called for more online censorship. On the First Amendment while he was overseas, “We have to take steps to detoxify our discourse, particularly the scourge of ‘disinformation, conspiracy theories …” Obama said.
CNN fact checks Biden Econ Advisor Rouse on inflation “prices are rising for everything”.
https://facebook.com/HygoNewsUSA/videos/762169055155104/
Inflation: Biden blames Putin, oil companies, shipping companies & Congress, but insists ‘top economic priority’.