On 10/13/2022, Joe Biden delivered remarks on how his ‘Infrastructure Law’ is helping to improve public transit and create jobs in Los Angeles, California. Biden addressed the worst inflation report in 40 years during his remarks at a Los Angeles Metro construction site. The September inflation rate came in hotter than expected on 10/13/2022 at 8.2%. The Core CPI surged to 6.6% – the highest rate since 1982. The producer price index (PPI) increased 0.4% in September – double what was estimated.
Joe Biden said today’s inflation report shows progress, “Today’s inflation report shows progress. Overall, inflation was 2% over the last three months… That’s progress but a lot of it has resulted from getting the cost of living at the gas pump down over $1 nationally,” said Biden. BIDEN: “Today’s report shows, though, some progress” on inflation. FACT CHECK: Core inflation increased at the highest rate since 1982. The consumer price index has been at or above 5% for 17 straight months.
Biden actually said if Republicans win, inflation is going to get worse. The same person who caused inflation with reckless spending, then insisted it was “temporary,” “transitory,” “zero,” increasing by a “little bit” and by just an “inch” now says inflation will get “worse” if Republicans win. Biden and the Democrats have been in control for nearly two years. Biden said, “Democrats are working to bring down the cost of things they talk about around the kitchen table.” Except grocery prices are higher than ever and gas prices remain, on average, $1.52/gallon higher than when Biden took office.
Biden yells about “savings on your utility bills.” Actually electricity prices are up 15.5%. He also said, “We have not raised the tax on anybody making less than $400K/year one penny.” Actually Americans making as little as $20,000/year will pay more.
Biden Economic Advisor Cecilia Rouse says she takes “comfort” in workers’ average hourly wages ticking “down”. Biden Economic Advisor Cecilia Rouse: “Look, what we learned TODAY was that we have a problem with inflation.”
After Fox News’ Bill Hemmer asked if policies need to change amid surging inflation, top President Joe Biden economic advisor Jared Bernstein said, “no,” during a segment on Fox News’ “America’s Newsroom” with Bill Hemmer and Dana Perino on 10/13/2022.
“When it comes to core inflation … that number is the highest we’ve seen since 1982. Sir, is it time for this White House and the Biden administration to pivot on its economic policies?” BIDEN ECONOMIC ADVISOR JARED BERNSTEIN: “No”
https://facebook.com/HygoNewsUSA/videos/786252475976909/
Biden: inflation shows progress, “worse” if Republicans win; Advisors: “comfort” wages down, no policy change.