Give President Joe Biden credit for consistency. For the entirety of his term he has relentlessly and falsely claimed that the economy was a shambles when he took office. His latest deceptions portray the raging inflation he did so much to inflict on Americans as a pre-existing condition. “For the second time in less than a week, President Joe Biden falsely claimed Tuesday that the inflation rate was 9% when he began his presidency,” writes CNN’s Daniel Dale. He adds:
Biden’s claim that the inflation rate was 9% when he became president is not close to true. The year-over-year inflation rate in January 2021, the month of his inauguration, was about 1.4%.The Biden-era inflation rate did peak at about 9.1% – but that peak occurred in June 2022, after Biden had been president for more than 16 months.
Not close to true is an apt description of the Biden economic message. Over the years some media folk have tried to portray Mr. Biden’s tall tales as evidence of grandfatherly charm. Folksy or not, he has been remarkably consistent in making false claims about the state of the economy when he took office.
His inauguration occurred during a stretch of fast growth and low inflation. Real GDP was growing at an annual rate of better than 5% during the quarter he took office. It has grown more slowly in the years since and of course with the additional plague of rising prices.
This is not just an issue of deceptive rhetoric. The deceptions of 2021 actually helped cause the resulting inflation. That’s because Mr. Biden’s false portrayal of an economy in distress was the justification for the spending spree he initiated despite warnings from prominent Democratic economists. The bogus claims have had highly destructive consequences.
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Author: Ruth King
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