The Biden White House and Democrats (with some help from the media) have been spinning the latest inflation report with an insane amount of gaslighting. First, here’s where things stand:
Inflation cooled in July as gas prices and airfares fell, a welcome reprieve for consumers and economic policymakers but not yet a conclusive sign that price increases are turning a corner.
The Consumer Price Index climbed 8.5 percent in the year through July, compared with 9.1 percent the prior month, a bigger slowdown than economists had projected. After stripping out food and fuel costs to get a sense of underlying price pressures, prices climbed by 5.9 percent through July, matching the previous reading.
And here’s how Biden and the Democrats are spinning that 8.5 percent CPI:
"Zero inflation last month," says @POTUS at @WhiteHouse event. "It underscores the kind of economy we've been building." pic.twitter.com/K3MGN5wQHB
— Steve Herman (@W7VOA) August 10, 2022
The only thing that’s “zero” in Biden’s statement is the percentage of a chance that what he said is actually true. They’ve redefined the definition of “recession” and now they’ve redefined the meaning of “zero.”
Biden press secretary Karine Jean-Pierre is among Democrats attempting to take a victory lap:
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.
— Karine Jean-Pierre (@PressSec) August 10, 2022
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Senator Ted Cruz is among those who aren’t buying the BS this administration (with the media’s help) are shoveling and brought Jean-Pierre’s economic victory lap to a premature end with a reality check:
Gas is up 44% from last year.
Electricity is up 15.2% from last year.
Food is the most expensive since 1979.
The Biden White House is living in a fairytale while Americans are living in a nightmare. https://t.co/xsv8uuLjgA
— Senator Ted Cruz (@SenTedCruz) August 10, 2022
Meanwhile, this administration would like everybody to believe what they say instead of their lying eyes, ears and bank accounts.
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Related:
Biden chief of staff Ron Klain having a retweet-a-palooza for BS ‘zero inflation’ claims
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