Joe Biden says he wants to run for re-election and wants to do so based on false claims of a strong economy.
But Biden discovered he has a huge problem.
And Joe Biden tried to duck responsibility for this bad news about a recession.
Joe Biden ran to the cameras to try and take credit for a report showing the economy created 517,000 new jobs in January.
But that report was a double-edged sword as it showed Joe Biden’s socialist spending meant inflation was still running hot and that Federal Reserve Chair Jay Powell was likely to continue increasing interest rates.
A corporate media reporter performed a rare act of journalism and pressed Biden on this point asking if Biden shouldered any blame for the rising inflation.
Biden shouted “no” and then lied about how inflation was already out of control and baselessly blamed Donald Trump for the surge in prices that drained Americans’ bank accounts.
REPORTER: Do you take any blame for inflation, Mr. President?
PRESIDENT BIDEN: Do I take any blame for inflation? No!
REPORTER: Why not?
PRESIDENT BIDEN: Because it was already there when I got here, man. Remember what the economy was like when I got here? Jobs were hemorrhaging. Inflation was rising. We weren’t manufacturing a damn thing here. We were in real economic difficulty. That’s why I don’t.
The so-called “fact-checkers” at the Washington Post and CNN — Glenn Kessler and Daniel Dale — never called out Biden for this lie.
Their silence showed that “fact-checking” is just a Democrat Party rapid response operation where left-wing operatives call Republicans liars for disagreeing with Democrats.
But Biden claiming inflation ran hot when he got into office was a lie.
Inflation was 1.4 percent in January 2021 when Donald Trump was president.
Even liberal economists predicted this would happen.
Former Obama chief economist Larry Summers explained that Joe Biden’s 1.9 trillion-dollar socialist spending bill that Democrats passed in March 2021 would cause skyrocketing inflation.
“Joe Biden has a historic opportunity to be a great president,” Summers stated. “But I think they should learn the lesson of the Johnson administration’s errors that elected Richard Nixon and the Carter administration’s errors that elected Ronald Reagan.”
“We are printing money, we are creating government bonds, we are borrowing on unprecedented scales,” Summers added. “Those are things that surely create more of a risk of a sharp dollar decline than we had before. And sharp dollar declines are much more likely to translate themselves into inflation than they were historically.”
Summers proved prophetic.
April inflation surged to over four percent one month after Biden signed his socialist spending bill into law.
Inflation shot to 9.2 percent in June 2022, its highest level in 40 years.
Last year, Summers revisited his prediction saying the Federal Reserve’s fight to curb inflation made a recession “almost inevitable.”
Summers forecast economic pain and job losses as continued interest rate hikes ground the economy to a halt.
“The unemployment is likely to rise towards 6%, that’s a very real and not an easy thing,” Summers declared. “But people need to understand is that it is better to do that than to allow inflation to accelerate and allow everybody to expect inflation, at which point you’ll have a much greater set of difficulties.”
Politicians never want to take responsibility for failures that occur on their watch.
But Joe Biden claiming Donald Trump caused massive inflation and that he bore no accountability for a potential recession was next-level gaslighting.
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