Speaking to CBS News’ 60 Minutes program on Thursday for an interview that aired Sunday night, President Joe Biden attempted to downplay the rate of inflation, which was shown to have risen to 8.3% last month.
“Mr. President, as you know, last Tuesday the annual inflation rate came in at 8.3 percent. The stock market nose-dived. People are shocked by their grocery bills. What can you do better and faster?” host Scott Pelley asked.
“Well, first let’s put this in perspective,” Biden said, attempting to conjure up a legitimate defense. “Inflation rate month-to-month was up… just an inch, hardly at all.”
“You’re not arguing that 8.3 is good news,” an incredulous Pelley interjected.
“No, I’m not saying it is good news,” Biden conceded. “But it was 8.2… before. You’re not gonna make it sound like all of a sudden, my God, it went to 8.2 percent.”
“It’s the highest inflation rate, Mr. President, in 40 years,” Pelley pressed.
“I got that,” an exasperated Biden replied. “But guess what we are. We’re in a position where for the last several months it hasn’t spiked, it has barely… it has basically been even.”
(YWN World Headquarters – NYC)
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15 Responses
It’s not a big deal, fir him.
Yet you guys don’t criticize him enough. This is the worst administration of the US.
Wrong video
What’s with Joe’s formerly blue eyes??? Smart contacts???
anyone with a variable-rate mortgage is in danger of losing their home. soon. and this is a “good thing”?!
If I’ve been living in the DC bubble for 40 years and never paying for anything myself either, then I wouldn’t think that record inflation was a problem. I wouldn’t even think 50% is an inch either. No concept of money after being in power that long.
This is about as ignorant as AOC’s claim during the Trump administration that the reason unemployment was so low, is that people are working two or three jobs.
Ticking up by “only one tenth of a percent from last month” is due to a number of factors including get back to school sales.
But most importantly (and something Boe Jiden will never admit), is the fact that at this point, it is serious compound inflation given that the measure being discussed is inflation by month year over year.
So for example, the august 2021 inflation number was in the fives and then August 2022 was in the eights (combined thirteen plus percent over two years).
But these numbers are being massaged to prevent the presidency from looking too bad, which will bleed over past the eventual reduction in inflation (likely in the late twenties or early to mid thirties).
President Donald Trump שליט”א on 11/5/2024:- Only known cure unto mankind to obliterate this insane inflation.
Did you print the wrong article? Nowhere does he say that high inflation is not a big deal. He does point out the last two months inflation has been near zero.
As to the inflation this past year or so. Better get over it as between increases in wages, social security, and other things that cannot be rolled back this inflation is mostly locked in. If it were to reverse it would be an economic calamity, but sure you can believe Trump will do that if it makes you feel better.
35 days ago, the President signed a bill into law called The Inflation Reduction Act .
He cares about it.
Whereas not a single republican supported the bill.
Can they claim that they are doing something about it?
sheker nisht emes,
The current inflation rate is not near zero, it’s 8.26%. That’s almost six times the 1.4% rate it was when this brainless dolt took office.
Compared to Israel in the 1980s, or Germany in the 1920s, or the Confederate States – American inflation is nothing to write home about. If we still used paper money, we would hardly be using it for kindling or to burn in furnaces to warm houses.
And in any event, the only things that would help would be increased immigration to force labor costs down (that will be real popular with those of us with jobs), or cutting government spending (that will be real popular with those who get government handouts). So what should he say – “whip inflation now”??????????
Why is this even news?, can we expect any better from a demented Alzheimer diseased zombie.
This treasonous DemonRat has surrounded himself with vicious America hating Marxist’s who deliberately want to destroy Americas capitalistic system.
@jackk
You answered the question yourself.
“Called” the Inflation Reduction Act.
According to the Senate Budget Office, the name is a misnomer
https://www.budget.senate.gov/ranking-member/newsroom/press/cbo-confirms-to-graham-dems-inflation-reduction-act-wont-reduce-inflation