You Won't Believe Who Biden Is Blaming For Soaring Inflation

President Joe Biden said Wednesday that part of the reason for soaring inflation is that Americans “have more money” because his administration issued COVID-19 stimulus checks. He further blamed inflation on the ongoing supply chain crisis and the subsequent demand for goods.

The Labor Department announced Wednesday morning that the Consumer Price Index (CPI) rose 0.9% for the month of October and 6.2% throughout the year, making it the highest rate in three decades. The announcement followed the passage of Biden’s $1.2 trillion bipartisan infrastructure package, and it comes amid the administration’s push for his $1.75 trillion social spending package to pass Congress.

Critics blame the government for inflation, saying that throwing money at the COVID-19 pandemic will have long-term consequences. More moderate Democrats, like West Virginia Sen. Joe Manchin, voiced concerns about the administration’s push to spend money. Biden acknowledged that “the first major piece of legislation” he passed gave Americans across the country checks for $1,400.

“And the irony is: People have more money now because of the first major piece of legislation I passed,” Biden said after detailing how global supply chains have helped lower costs for Americans but made the country “more reliant on what happens” around the world.

“You all got checks for $1,400. You got checks for a whole range of things. If you’re a mom and you have kids under the age of 7, you’re getting 300 bucks a month, and if it’s over – over 7 to 17, you’re getting $360 [sic] a month – like wealthy people used to when they’d get back tax returns. It changes people’s lives.”

“But what happens if there’s nothing to buy and you got more money? You compete for getting it there. It creates a real problem,” the president added.

Biden added that Americans are not only “facing new disruptions to our supplies” but also “experiencing higher demand for goods because wages are up” and “people have money in the bank.”

“And because of the strength of our economic recovery, American families have been able to buy more products,” Biden said.

The president said he acknowledges the country is frustrated by inflation and remarked, “Did you ever think you’d be paying this much for a gallon of gas?”

Biden claimed that everything will be fine moving forward because of how Americans are living.

“They’re not going out to dinner and lunch and going to the local bars because of COVID. So what are they doing? They’re staying home, they’re ordering online, and they’re buying product,” Biden said. “Well, with more people with money buying product and less product to buy, what happens? The supply chain’s the reason, the answer is, ‘you guys,’ I’ll get to that in a minute. But what happens? Prices go up.”

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