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Free Beacon reports, last week, White House economists acknowledged that the Biden administration’s spending may have increased inflation, months after the president dismissed the notion that his trillion-dollar plans would boost prices as “bizarre.”
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President Joe Biden has been under fire for his handling of the economy since taking office. Rising inflation has become a significant concern as prices for goods and services continue to soar. Experts have criticized the Biden administration’s handling of inflation, with some suggesting that his policies may be contributing to the problem.
Recently, President Biden made a “bizarre” excuse for the cause of inflation during his televised town hall event. He suggested that the rising costs were due to the pandemic and the resulting increased demand for goods and services. However, White House economists have fact-checked the President’s claim and have found it to be only partially true.
According to the economists, while the pandemic did indeed play a part in the increase in demand, it was not the only contributing factor. The experts have pointed out that a series of policy decisions made by the administration has also contributed to the rise in inflation. The economists cited the President’s $1.9 trillion American Rescue Plan as one such policy decision.
The American Rescue Plan was passed earlier this year and aimed to provide relief to Americans suffering due to the pandemic. However, many economists argue that the massive injection of cash into the economy has led to an increase in consumer spending, which has pushed up prices for goods and services.
Moreover, the economists explained that the supply chain disruptions caused by the pandemic and the resulting labor shortages have also contributed to the inflationary pressures. Still, the administration’s response to these disruptions has not been effective, leading to further price increases.
President Biden has often advocated for more government spending to counter the economic fallout of the pandemic. However, some experts argue that his approach may be doing more harm than good. The President’s policies could potentially worsen inflation, leading to an economic crisis that could be difficult to manage.
In conclusion, the President’s excuse for the cause of inflation has been fact-checked by White House economists, and it has been found to be only partially true. While the pandemic did play a part in the increase in demand for goods and services, a series of policy decisions made by the administration has also contributed to the problem. As the Biden administration tackles this issue, it is critical to strike a balance between supporting the economy and preventing runaway inflation.
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That's a stupid Man.
Damn lie !!!!
So the Democrats lied. Why does anyone believe any of them any time. There hasn't been a truthful democrat since JFK.
"Because it was already there when I got here, MAN…" That man is nothing but a punctuation mark to tell others to F Off. EVIL BEHEMOTH.
Somebody should tell Pedo Joe to be careful scratching his head, he might get splinters in his fingers. Buffoon the Clown, idiot Extraordinaire is an incapable Criminal idiot.
To paraphrase Thomas Sowell, the only cause of inflation is government spending, and the only relief from inflation is for the government to stop spending.
Everything out of his mouth is a lie.
Biden has been a Failure for close to 50 years!!
We The People Want Biden Impeached and The Biden Crime Family Jailed and All Involved
Biden is a Disaster
Joe Manchin is a FRAUD and a TURNCOAT.. He says he does not like Biden's AMERICA LAST AGENDA.. Then why is he still a DUMoCRAP?? LIAR, FRAUD, and TURNCOAT Joe Manchin….!!!!!!!
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
This man is crazy as hell and nobody says anything back …
We were manufacturing everything before he shut down all of our energy production and other things that caused shortages
Hmmm…reminds me of Obamacare. The "Affordable" Care Act. Same thing. What they claimed and what was passed destroyed healthcare for people who work and have health insurance through their employers. Now many have to choose, health care or a bill for $1000 to be seen for the flu or strep throat. Don't even think about not paying it…they'll sue you and garnish your wages. What was $1000 is now $4000 because attorney fees and costs. This didn't happen to people at this level before the (UN)Affordable Care Act.
He should be fired right now but then geegles take over and she's no good also
This country and economy is unrecognizable! Horrible.
The whole administration needs to be impeached for their lack of inaction and their over spending. Start Kamala then go after Biden.
Satan's little bitch boy.
The entire Obama Administration is a huge pack of liars, criminals, traitors and losers!!
Liar in chief – sick of this geriatric career criminal politician
boy he is a liar….
Biden is doing this on purpose, he's China's guy.
Manchin..face it, you got used, you need to wake up about your Democrat party. I did, and I am now a full-fledged Republican. Wake up, Democrats only use you for their benefit.
When in doubt blame TRUMP that’s Joes philosophy
They don't want him on the ticket, that's why they are throwing him "under the bus".
You flocking liar Joe all you have done is shit on Americans and blame anything and everything on Trump
Economy was good B4 he came in the office. He must've been smoking some hard barbiturate stuff. Took him to a different planet obviously.
I'm sorry, Biden is a CCP penis vacuum.
Dereliction of Duty, Aiding and Abetting Foreign and Domestic,etc, …..
And it is Our president, how can this be?…..
I am so sick of this lying sack of ____!
Worst president EVER..
He promised to destroy America
That man lies every time he opens his mouth.
Such a Pucci drop ded crckr!!!!!!
Where fact checkers?