2 years ago
Date: 11 Aug 2022 - 01:30
President Joe Biden stated Wednesday that the U.S. economy had zero percent inflation in July following the latest CPI report. Biden is claiming that we saw zero percent inflation last month. But theres a zero percent chance thats the case. Inflation in July was 8.5 which is still a 40year high said a lawmaker. Bidens Zero Inflation Comment and ResponsesOn Wednesday President Joe Biden publicly stated that the U.S. economy had 0 inflation in July after the latest consumer price index CPI report was released.Before I begin today I want to say a word about the news that came out today relative to the economy Biden began. Actually I just want to say a number zero. The president addedToday we received news that our economy had zero percent inflation in the month of July. Zero percent.The White House press secretary Karine JeanPierre similarly stated on Twitter We just received news that our economy had 0 inflation in July. While the price of some things went up the price of others like gas clothing and more dropped.Comments flooded social media platforms following Bidens zero percent inflation claim. Some gently explained to him that inflation is not 0 while others flatout insulted the U.S. president.Rep. Mike Bost RIL tweetedBiden is claiming that we saw zero percent inflation last month. But theres a zero percent chance thats the case. Inflation in July was 8.5 which is STILL a 40year high.American author Jeffrey Tucker called Bidens zero percent inflation claim a bogus math trick noting This is the overall onemonth index change. Overall that means that the big drop in fuel oil and gas following previous massive monthly increases swamped the huge increases everywhere else. He added Using the same tactic you could also observe a onemonth 19.2 increase in electricity But of course we would not do that because thats dumb. The actual increase is 15.2 which we get from calculating year over year.Rudy Havenstein opined For the president and others to publicly claim with a straight face that there was x2018zero inflation last month is gaslighting at an extreme level and insulting and thoughtless and I do not think it will go over well with nonideologues.Tricia Flanagan wrote Its actually 8.5 inflation in July NOT x2018ZERO Joe. This misunderstanding of basic economics is sad misleading dangerous.U.S. Senator Lindsey Graham RSC commentedWhat world is President Biden living in Americans continue to suffer under Biden inflation. Clearly he hasnt bought any food or filled up a gas tank x2026 How out of touch can you be Sad and dangerous.California House Republican Leader Kevin McCarthy tweeted President Biden just said x2018our economy had zero percent inflation in the month of July. Noting that gas price is up 44 airfare 27 and groceries 13 he stressed While you continue to pay for his failures Biden owes the American people the truth about inflation.Rep. Ralph Norman RSC mocked the zero percent inflation tweet by the White House press secretary statingWere more than 4X the normal rate of inflation and the White House spin is x2018Look everybody Zero percent last month Such B.S.Fox Business anchor David Asman said Lies damn lies and statistics. Inflation is UP 8.5 year over year. Todays number is all gas the demand for which has come down to levels not seen since 2020 lockdowns x2026 food is still up 10.9 year over year. Folks can cut road trips not food.Some people pointed out that if Biden believes that there is zero percent inflation then there is no need for the Inflation Reduction Act and the 80 billion fund to allow the Internal Revenue Service IRS to hire new agents.Referencing the U.S. governments efforts to redefine the technical definition of the word recession Townhall.com managing editor Spencer Brown wroteThe White House already tried to redefine x2018recession and now they expect Americans to believe that the 8.5 annual CPI number reported for July is x2018zero inflation. Unreal.He described The Biden administrations celebration comes at the ignorance and expense of Americans who are living paychecktopaycheck but the White House clearly doesnt know or care about what the American people are dealing with.What do you think about the 0 inflation comment by President Joe Biden Let us know in the comments section below.
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