Pelosi Admits Biden Policies “Made It Happen” on Inflation; Says Thomas Should “Never Have Been Appointed”; Wages Lag Prices by 2.4%

On 4/1/2022, Pelosi made a remarkable admission: Biden’s public policies had “made it happen” when it came to inflation — acknowledging that the administration’s spending had driven unemployment down so fast that prices surged. She also said Justice Clarence Thomas should “never have been appointed.” Biden walked away from reporters asking about inflation outpacing wages. Granholm again pitched EVs at “$10 versus $62.” An analyst noted the CPI-to-wage gap meant Americans were losing purchasing power every month despite strong nominal wage growth.

Pelosi: “Public Policy Made It Happen”

Pelosi offered the most candid Democratic admission yet about the cause of inflation. “I don’t think any president would say that he himself made that happen. Of course, the public policy that we’re engaged in made it happen,” Pelosi said.

She explained the mechanism directly. “When I was a new member of Congress and the chairman of the Fed said unemployment is dangerously low, it’s going to increase inflation — it’s the way it is,” Pelosi said. “A million jobs, which means that unemployment went down, practically cut in half. And when that happens, inflation increases.”

The admission contradicted months of White House messaging blaming supply chains, Putin, oil companies, and corporate greed for inflation.

”Thomas Should Never Have Been Appointed”

Pelosi went beyond calls for Justice Thomas to resign over his wife’s political activities. “We were saying that Clarence Thomas should resign. I don’t think he should have ever been appointed. So let me take it back,” Pelosi said.

Inflation Outpaces Wages

Biden walked away from reporters when asked about inflation outpacing wages. “What about inflation outpacing wages, Mr. President?” a reporter shouted. Biden did not respond.

An analyst broke down the gap. “The CPI rate was close to 8%. Wages, as strong as they are — post-COVID high on the year-over-year — was 5.6%,” the analyst said. “There’s a bit of a spread there. You have to use more dollars in your wallet because of inflation, and savings rates are starting to go down.”

Gas was at $4.23 per gallon — up 47% from a year ago. The Commerce Department reported “sharply higher prices for food and other necessities.” Stocks fell more than 1.5% across all three major indexes.

Granholm: “$10 vs. $62” — Again

Energy Secretary Granholm repeated her EV pitch. “If you filled up your 15-gallon tank today, you’d be paying about $62 to go 300 miles. If you plugged in an electric vehicle with your three-prong plug, you’d be paying about $10,” Granholm said. “$50 savings every time you fill up.”

An interviewer pushed back emotionally. “It just seems so depressingly insane. Let’s drill, baby, drill. Let’s get more oil in those markets. This is the solution, and it’s like — it’s always the next cigarette is the one we’re going to give up. But for now, we need to buy another carton,” the interviewer said.

Granholm was candid in response. “Believe me, I think a lot of us came into this hoping that we would be focusing solely on clean energy solutions,” she said.

Hunter Biden Investigation Broadens

CBS provided additional details on the expanding federal investigation. “It began as an examination of whether he paid all the taxes he should have on income from foreign companies,” CBS reported. “An email from a former business partner found on a laptop showed he failed to disclose $400,000 from the Ukrainian company.”

“A company connected to Biden also received nearly $4 million in consulting contracts from a Chinese energy company,” CBS continued. “Senate Republicans say the documents also show Hunter Biden signed an agreement to represent Patrick Ho for $1 million. Ho was later convicted of trying to bribe government officials in Africa.”

“Now, according to people familiar with the investigation, it has broadened out to look at whether he violated federal lobbying disclosure law,” CBS reported.

”Cannot Allow Fossil Fuel Industry to Use This”

Pelosi insisted the energy crisis must not slow the climate agenda. “We must stop being dependent on energy from Russia. But we cannot allow the fossil fuel industry to use this as an excuse to reverse everything we’re doing to save the planet,” Pelosi said.

Key Takeaways

• Pelosi admitted Biden’s “public policy made it happen” on inflation — the most candid Democratic acknowledgment that spending policies drove price increases.
• She said Justice Thomas should “never have been appointed” — going beyond calls for resignation.
• Inflation at nearly 8% outpaced wage growth of 5.6%, meaning Americans were losing purchasing power despite nominal raises.
• Biden walked away from reporters when asked about inflation outpacing wages.
• The Hunter Biden investigation broadened to include federal lobbying disclosure violations alongside tax and money laundering probes.

Transcript Highlights

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

• I don’t think any president would say he himself made that happen. Of course, the public policy we’re engaged in made it happen.
• I don’t think he should have ever been appointed. So let me take it back.
• CPI close to 8%. Wages 5.6%. There’s a spread there. Savings rates starting to go down.
• $10 versus $62. That’s $50 savings every time you fill up.
• It just seems so depressingly insane. Drill, baby, drill. It’s always the next cigarette we’re going to give up.
• We cannot allow the fossil fuel industry to use this as an excuse to reverse everything we’re doing to save the planet.

Full transcript: 1038 words transcribed via Whisper AI.