On 10/11/2022, during briefing, White House Press Secretary Karine Jean-Pierre claimed that disposable income is up and gas prices are down. “We have seen some important progress for the American people. A couple of things that I will lay out: We’ve seen real disposable income and real consumer spending both increase in part thanks to the strength of our job market, gas prices are down over $1 per gallon since their peak this summer,” Karine Jean-Pierre said. In reality, real disposable income is LOWER than when Biden took office and gas prices are up 64%. Inflation is outpacing wages due to Joe Biden’s tax-and-spend policies. Gas prices are spiking in many states again, Washington, Oregon, Nevada, California, Michigan and other states are seeing a sharp rise in gas prices.
A reporter asked Jean-Pierre, “We get the consumer price index for September on Thursday. What does the administration expect from that?”
MS. Jean-Pierre: So you’re talking about the CPI? The in- — the upcoming number on inflation? So, look, you know, the President has made — as far as his economic policy, he’s made lowering costs for the American people, bringing it — that — … we know that we’re — there’s more work to do, but we have seen some important progress for the American people. A couple of things that I’ll lay out: We are — we’ve seen real disposable income and real consumer spending both increase, in part thanks to the strength of our job market. Gas prices are down over one dollar per gallon since their peak this summer. That’s an overall decline of 22 percent.
I just talked about the Inflation Reduction Act that’s going to lower costs when — as we think about healthcare, you think about energy … And you know, here’s the thing — and we’ve seen this this week and we saw it last week: how Republicans in Congress, as we know, voted against the Inflation Reduction Act. But the first thing that they want to do is repeal the Inflation Reduction Act … Why would you do that? Why would you take away an opportunity to lower costs for seniors? Why would you take out — take away the opportunity to lower costs on — when it comes to energy? Why would you take away the opportunity to fight climate change … And so that’s how we see, kind of, the important progress that we’ve made. Clearly, we will be paying close attention to that data as it comes out.
Reporter: So the IMF cut global forecasts today and for the U.S. I’m wondering if that forecast matches what the White House is seeing internally and if you have any concerns about their warning that, you know, “The worst is yet to come.”
MS. JEAN-PIERRE: So, I — I’ve said this before, and I’ll say this again. You know, the — the President has a message for the American people, and he wants them to know the following: Because of Americans’ resilience and the economic strategy we pursued from day one in this administration with his economic policy, the United States of America is in a stronger position than any other country to nagiva- — navigate what we’re seeing currently … Look, jobs are up, incomes are up, people are back to work, and American manufacturing is warring back. And the economic legislation signed, again, by this President — when we think about the Inflation Reduction Act, when we think about CHIPS — CHIPS Act — … So, now, of course, we’re going to continue to monitor this closely. We’re going to watch this closely. The President continues …
Reporter: The IMF Director of Research, with their report — their global report came out. He said that the three largest economies in the world — the U.S., China, and the eurozone —
MS. JEAN-PIERRE: Oh, I see what you’re saying.
Reporter: — will stall — will stall next year. And so I’m wondering if the President bears any responsibility with his policies for the inflation and what they’re calling a stalling economy.
MS. JEAN-PIERRE: Okay, we got to step back here … What he did is put forth the American Rescue Plan — which, by the way, was only voted by Democrats — that was able to turn back on our economy … those extra dollars back into the pockets of Americans. That’s what the President was able to do … He continued that with the Inflation Reduction Act. And let’s not forget the work that we have done, this President has done these past several months to get gas prices down … And what we are saying is: Because of the work that this — this administration has done, because of the work that this President has done, we are in a better place to deal with those global challenges … So, look, if anything, his economic policy has been able to get us back on track in a historic fashion — in a historic fashion.
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WH: income up & gas down; IMF: “worst is yet to come”; not responsible inflation but economic historic fashion