Biden admits inflation is unacceptable after rate hike
President Biden admitted on Wednesday that inflation was « unacceptably high » after the annual rate of price increases soared to 9.1% in June – the highest level since November 1981 – as Republicans blamed the White House of having no plan to deal with the economic emergency.
In a statement released shortly after arriving in the Middle East, Biden attempted to deflect the horror report by noting that it – like all other inflation reports – was « outdated ».
« Today’s data does not reflect the full impact of nearly 30 days of lower gasoline prices, which have reduced the price at the pump by about 40 cents since mid-June, » said President. “These savings provide significant breathing room for American families. And other commodities like wheat have fallen sharply since that report.
However, the Bureau of Labor Statistics report found that so-called ‘core inflation’, which measures the cost of all items less food and energy, rose 0.7% in June after increased by 0.6% in April and May – a total peak of 5.9% compared to June of last year.
The White House had tried to pre-empt the bad news ahead of the report’s release, with press secretary Karine Jean-Pierre telling reporters the administration expected the reading to be « very high. »
Regardless of the warning, Republican lawmakers lambasted the administration after the report was released.
“Working families are struggling to make ends meet as they continue to face the worst inflation in 40 years. Economic sirens are sounding and economists are warning of an impending recession. But @POTUS plugs its ears and turns its back on the American people,” said Sen. John Barrasso (R-Wyo.) tweeted.
“This is unsustainable and the Biden administration has no plan to mitigate the high prices that are hurting American families,” Rep. Gary Palmer (R-Ala.) said. wrote.
« Democrats don’t care about the things that matter to everyday working Americans, like inflation, a border crisis, gas prices, or violent crime, they only care about the domestic issues of their people. white, affluent, liberal donors and activists,” Senator Marco said. Rubio (R-Fla.) said.
« New Report: Inflation Reaches Highest Level in Nearly 41 Years » wrote Senator John Thune (R-SD). « Groceries, gas, rent, utilities – almost everything is more expensive these days, and Americans are feeling the pain daily. This level of inflation is a direct result of spending by Democrats since they took control of DC.
« Inflation continued to soar in June because of Joe Biden’s reckless spending, » said Sen. Marsha Blackburn (R-Tenn.) intervened. « Inflation reached a historic high of 9.1%, the highest level since 1981. »
“Inflation is up 9.1%, a new 40-year high. And what are Democrats doing to help hurting Americans? Throwing Gasoline on the Fire by Revitalizing Joe Biden’s Trillion-Dollar Spending Plan,” said Representative Tom Tiffany (R-Wis.)
Rep. Brian Mast (R-Fla.) called the record June numbers a « wake-up call » for Biden and his fellow Democrats to change their agenda in Congress.
« Inflation is at 9.1%, the highest in my life, » he said. job. “Out of control spending has dug this hole. First rule for getting out of a hole? Stop digging. This must be the wake-up call for Joe Biden and DC Democrats: stop putting your liberal agenda ahead of the well-being of Americans.
Rep. Claudia Tenney (R-NY) also directed her anger at Democrats in Congress on Wednesday saying, “Bidenflation continues to soar. The latest report published today shows that costs have increased by 9.1%! And even now, Democrats in Congress still want to spend more of your money and raise taxes on job creators and families.
« It’s even worse than expected, » Rep. Greg Murphy (R-NC) said. tweeted. “#Bidenflation hit a new all-time high with #CPI hitting 9.1% (y/y). Too many dollars are chasing too few goods, and yet liberal Democrats are still plotting billions in new tax hikes.
Rep. Clay Higgins (R-La.) accused the Democratic Party of « destroying America, » saying « families can’t get away with it » with such high levels of inflation.
« The Democrats are destroying America. Families can’t get by. We can’t buy groceries and pay rent. And all they can scream is the woke shit and the BS climate. It’s crazy. God preserve our Republic, » he said. wrote.
“The Biden administration continues to break records: June inflation hit an unfathomable 9.1%,” said Rep. Kevin Hern (R-Okla.) said. « While @POTUS will continue to blame corporations and foreign wars, the American people know their policies are responsible for the pain they feel every day. »
« Remember, this didn’t happen by chance, » said Sen. Ron Johnson (R-Wis.) tweeted. « This destructive inflation was caused by the Democrats’ war on fossil fuels and massive deficit spending. Biden and his enablers in Congress must be stopped.
Senator Thom Tillis (R-NC) took the opportunity to lambast the Biden administration’s push for extra spending, saying“This is the worst inflation we’ve seen in decades, and it’s crushing the hardworking people of North Carolina. The Biden administration’s only response has been to push for more wasteful spending that will worsen inflation and cost Americans even more. »
Sen. Bill Cassidy (R-La.) agreed, writing: “Inflation increased by 9.1% in June. Americans are suffering from Biden’s disastrous economic agenda. The last thing Americans need is a Democrat-mandated tax hike and more reckless spending.