Joe Biden Created Record Inflation

Joe Biden Created Record Inflation

  • Ahead of his speech on inflation, it's important to remember Joe Biden's reckless economic policies are directly to blame for surging prices, decreasing real wages, and a shrinking economy.
    • The U.S. economy shrank 1.4% on an annualized rate last quarter – far worse than economists' expectations of 1% growth, and even worse than the drop when COVID-19 began to wreak havoc on the world economy.
    • Biden inherited a strong economic recovery but now, economists are warning of a looming recession.
  • But Biden's priority isn't reversing his failed policies. Instead, he's focused on lying about his record and shifting the blame. Biden's lying about every major economic topic:
    • Biden falsely said Congressional Republicans want to raise taxes – a claim which earned him three Pinocchios from The Washington Post.
    • Biden's attempting to say he has reduced the deficit, a claim which has been debunked by Moody's Analytics.
    • And, in perhaps the worst lie of all, Biden's lying about his responsibility for the inflation now crushing American families and businesses.  
  • Biden's wasteful tax and spend policies have forced inflation to surge to a 40-year high.
  • While Biden is trying to claim inflation is the result of the war in Ukraine, it's clear inflation started long before the war – it started when Biden took office and began his wasteful spending spree.
 
  • Biden and Democrats spent trillions of dollars based on the promise it would result in a thriving economy – we all know that claim was a shameless lie.
    • Even liberal economists have said Biden's $1.9 trillion boondoggle "will go down in history as an extraordinary policy mistake."
    • There are still 1.1 million Americans who lost their job during the pandemic and have yet to get it back.
  • Biden and Democrats "own" the economic pain families are feeling – the American people know it.
  • According to a new CNN poll:
    • 66% disapprove of Biden's handling of the economy
    • 55% say he has made the economy worse
    • 50% say the economy is the most important issue facing the country, by far the highest of any issue
    • 77% rate the economy as poor, the most in a decade
    • 63% say they have changed the amount of groceries they buy because of economic conditions
  • According to a new Fox News poll:
    • 67% disapprove of Biden's handling of inflation
    • 77% blame government regulations for high gas prices
    • 87% are "extremely" or "very concerned" about inflation, the top concern among voters
    • 65% say inflation will be a "major issue" for another year or more
    • 44% say they have faced "serious" hardship buying groceries and gas
    • 44% say their family financial situation is worse than two years ago compared to only 18% who say better
  • The American people aren't falling for Joe Biden's desperate spin – they know Biden and his party are responsible for the record inflation, lagging recovery, and supply chain crisis we are all suffering from.
  • In November, Americans will elect Republicans up and down the ballot who will fight for commonsense economic policies.

Courtesy of NCGOP