During a speech at a retreat in Philadelphia, Joe Biden threw a tantrum, yelling at the American people to stop blaming him for skyrocketing inflation, and claiming that it “is largely the fault of” Russian President Vladimir Putin and not his administrations’ excessive spending.
Biden unleashed his anger, throwing a full-on tantrum because the American people who (rightfully) blame him for the skyrocketing inflation that began shortly after the passage of the American Rescue Plan, a $1.9 trillion COVID-19 relief bill.
Apparently, Joe Biden, the Democrat Party, and the mainstream media believe that the American people have such a short attention span that we would believe them when they say that high inflation just began when Putin invaded Ukraine, and not when Biden took office and began pushing policies that decimated the economy.
“I’m sick of this stuff,” Biden complained.
“We have to talk about it, because the American people think the reason for inflation is government spending more money. Simply not true!” he shouted.
Watch Biden’s tantrum:
Biden: "I'm sick of this stuff … the American people think the reason for inflation is government spending more money. Simply not true!"
— RNC Research (@RNCResearch) March 11, 2022
“As I have said from the start, there will be costs at home as we impose crippling sanctions in response to Putin’s unprovoked war, but Americans can know this: The costs we are imposing on Putin and his cronies are far more devastating than the costs we are facing,” he said.
“A second big reason for inflation is Vladimir Putin,” Biden continued. “From the moment he put his over one hundred and fifty thousand troops on the Ukrainian border, the price of gasoline in January went up 75 cents and Putin began amassing troops along the border.”
“Make no mistake, inflation is largely the fault of Putin,” he added.
Vladimir Putin’s invasion of Ukraine did send rising gas prices even higher, but inflation was a serious problem for Biden long before the war.
Economists from both the left and the right have pointed to the Democrats’ spending as a driving factor behind inflation.
So yes, Biden is technically correct that the price of gas increased when Putin began his troop buildup at the Ukrainian border, but he neglected to mention that there was a major run-up that preceded the so-called “Putin price hike.”
According to data from the U.S. Energy Information Administration:
The average retail price of a gallon of gas in the U.S. (all grades, all formulations) in January 2021 was $2.42. By December, the price had soared to $3.41, nearly $1 per gallon or an increase of 41 percent. This represents the “Biden price hike.”
On March 10, the EIA estimated the average retail price of a gallon of regular gas in the U.S. to be $4.33, a gain of 92 cents per gallon or 27 percent from year-end 2021. This represents the “Putin price hike.”
On Thursday, March 10th, the Consumer Price Index reported that the Bureau of Labor Statistics showed a year-over-year rise in inflation of 7.9 percent.
Steven Rattner, a former Treasury Department official from the Obama administration, previously stated that the spending in Biden’s American Rescue Plan was the “original sin” which caused the inflation.
“The original sin was the $1.9 trillion American Rescue Plan, passed in March. The bill – almost completely unfunded – sought to counter the effects of the COVID pandemic by focusing on demand-side stimulus rather than on investment,” Rattner stated in November of 2021. “That has contributed materially to today’s inflation levels.”
It doesn’t matter how hard Joe Biden tries to divert the blame to Russia; the American people will remember that his administration is the main reason for the economic crisis we currently find ourselves in. No one is buying the “Putin price hike” lies.
Source: Patriot Nation Press