Biden Slammed for Claiming US Economy Had 0% Inflation in July — One Lawmaker Calls It ‘Sad and Dangerous’

President Joe Biden said Wednesday that the U.S. financial system had zero p.c inflation in July following the newest CPI report. “Biden is claiming that we noticed zero p.c inflation final month. But there’s a zero p.c probability that’s the case. Inflation in July was 8.5%, which remains to be a 40-year excessive,” stated a lawmaker.

Biden’s Zero Inflation Comment and Responses

On Wednesday, President Joe Biden publicly said that the U.S. financial system had 0% inflation in July after the newest shopper value index (CPI) report was launched.

“Before I start right this moment, I wish to say a phrase in regards to the information that got here out right this moment relative to the financial system,” Biden started. “Actually, I simply wish to say a quantity: zero.” The president added:

Today, we obtained information that our financial system had zero p.c inflation within the month of July. Zero p.c.

The White House press secretary, Karine Jean-Pierre, equally said on Twitter: “We simply obtained information that our financial system had 0% inflation in July. While the worth of some issues went up, the worth of others, like fuel, clothes, and extra, dropped.”

Comments flooded social media platforms following Biden’s zero p.c inflation declare. Some gently defined to him that inflation shouldn’t be 0% whereas others flat-out insulted the U.S. president.

Rep. Mike Bost (R-IL) tweeted:

Biden is claiming that we noticed zero p.c inflation final month. But there’s a zero p.c probability that’s the case. Inflation in July was 8.5%, which is STILL a 40-year excessive.

American creator Jeffrey Tucker called Biden’s zero p.c inflation declare “a bogus math trick,” noting: “This is the general one-month index change. Overall that implies that the large drop in gasoline oil and fuel (following earlier huge month-to-month will increase) swamped the massive will increase in all places else.” He added: “Using the identical tactic, you might additionally observe a one-month 19.2% improve in electrical energy! But, in fact, we might not do this as a result of that’s dumb. The precise improve is 15.2% which we get from calculating 12 months over 12 months.”

Rudy Havenstein opined: “For the president and others to publicly declare — with a straight face — that there was ‘zero inflation’ final month is gaslighting at an excessive stage, and insulting, and inconsiderate, and I don’t assume it should go over nicely with non-ideologues.”

Tricia Flanagan wrote: “It’s truly 8.5% inflation in July NOT ‘ZERO,’ Joe. This misunderstanding of primary economics is gloomy, deceptive & harmful.”

U.S. Senator Lindsey Graham (R-SC) commented:

What world is President Biden residing in? Americans proceed to undergo below Biden inflation. Clearly, he hasn’t purchased any meals or crammed up a fuel tank … How out of contact are you able to be? Sad and harmful.

California House Republican Leader Kevin McCarthy tweeted: “President Biden simply stated ‘our financial system had zero p.c inflation within the month of July.’” Noting that fuel value is up 44%, airfare 27%, and groceries 13%, he confused: “While you proceed to pay for his failures, Biden owes the American folks the reality about inflation.”

Rep. Ralph Norman (R-SC) mocked the zero p.c inflation tweet by the White House press secretary, stating:

We’re greater than 4X the traditional price of inflation, and the White House spin is, ‘Look everyone! Zero p.c final month!’ Such B.S.

Fox Business anchor David Asman said: “Lies, rattling lies and statistics. Inflation is UP 8.5% 12 months over 12 months. Today’s quantity is all fuel, the demand for which has come all the way down to ranges not seen since 2020 lockdowns … meals remains to be up 10.9% 12 months over 12 months. Folks can reduce highway journeys, not meals.”

Some folks pointed out that if Biden believes that there’s zero p.c inflation, then there is no such thing as a want for the Inflation Reduction Act and the $80 billion fund to permit the Internal Revenue Service (IRS) to rent new brokers.

Referencing the U.S. authorities’s efforts to redefine the technical definition of the phrase “recession,” Townhall.com managing editor Spencer Brown wrote:

The White House already tried to redefine ‘recession’ and now they anticipate Americans to consider that the 8.5% annual CPI quantity reported for July is ‘zero inflation.’ Unreal.

He described: “The Biden administration’s celebration comes on the ignorance and expense of Americans who’re residing paycheck-to-paycheck, however the White House clearly doesn’t know or care about what the American persons are coping with.”

What do you concentrate on the 0% inflation remark by President Joe Biden? Let us know within the feedback part under.