(NewsNation) — Since his inauguration, President Biden and his administration have told varying stories about the economy. All of them have proven to be wrong.
That is not a political statement, it is a statement of fact. Friday’s inflation numbers are, again, the worst in 40 years.
It is, of course, not all president Biden’s fault. It’s not the fault entirely of his policies. But at every turn their projections have proved wrong and their solutions have proved faulty.
“Our experts believe and the data shows to most of the price increases we’ve seen our were expected and expected to be temporary,” Biden said on July 19, 2021. But the data shows anything but. Since then, eggs are up a $1.20 for a dozen. Gas is up a $1.83 per gallon.
Gas, of course, goes into everything and it hits the middle class the hardest. The cost to fill up America’s most popular cars has more than doubled.
In case you need more proof, back in November, as inflation took hold, President Biden celebrated the infrastructure bill — the billion dollar spending bill, spending a billion dollars that we didn’t have. He predicted then that spending that money would lower inflation.
“According to economic experts, this bill is going to ease inflationary pressures, lowering the cost to working families,” President Biden said.
Since then, the inflation rate is up 1.8%, which may not sound like much, but month after month, these things have a compounding effect. Since May, gasoline up 49%, utility gas up 30%, and electricity up 12%.
At every turn, President Biden’s economic predictions proved wrong, but his solutions to the core problems haven’t worked.
Remember who he’s blamed along the way: Putin, the GOP, supply chains and COVID, oil companies, meat packers, grocery stores, big cooperation’s, and, now, shipping companies.
“These companies have raised their prices by as much as one 1000% while raking in, this session, $190 billion dollars in profit,” said Biden earlier this year.
The American people just don’t buy it. Gas prices are at all-time high, his approval rating is it an all time low, and part of the reasons are his promises to fix it. Tapping the strategic petroleum reserve didn’t work. Blaming oil companies didn’t work. Threatening oil companies didn’t work. Putting more ethanol into gas didn’t work.
Even still, the President continues to be wrong about the economy. Here he is today:
“Every country in the world is getting a big bite and piece of this inflation worse than we are in the vast majority countries around the world,” Biden said.
A list of just a few of the countries with lower inflation include Mexico, France Switzerland, Italy, China and Canada.
Forget, for second, if you support Mr. Biden or not. Forget, for a second, if you broadly agree with his policies or not. If he’s been wrong this many times about the economy, if the experts that he listens to have been wrong over and over and over again, why would he suddenly prove correct going forward?