It has been said that the bigger the lie, the more believe it. This has not been the case, however, with the present administration’s lies about what has caused inflation.
America faces a 40-year-high inflation rate of 8.6%, and President Biden’s economic adviser claims the administration is on the ball, doing a good job and “hasn’t missed much.”
Jared Bernstein, a member of President Biden’s Council of Economic Advisers, made the outlandish claims on Monday’s edition of CNBC’s “Squawk Box.”
Bernstein asserts that Biden has made inflation “his top economic priority.” Though he admitted “that there’s always something we can do,” he insisted that everything was fine.
Giving cover to the embattled administration, CNBC host Andrew Ross Sorkin offered many words but little substance:
“In terms of the inflation story, and I know you said that you’ve missed it before, we’re not going to re-litigate that. But what I want to understand is what you think the lesson of it was and is to the extent that the public wants to know that there was a lesson, that you’ve learned it, and that going forward, you’re going to approach this differently.”
Bernstein offered an extensive list of scapegoats, attempting to redirect blame for America’s economic woes:
“I think the most important lesson is that when you’re living in an uncertain world when people were making the predictions that they made, no one knew about delta and omicron, no one new about Putin’s invasion Ukraine. In a world with geopolitical economic uncertainty, what you need is a White House that understands the depth of importance of insurance policies,” he said.
Berstein argued that the public should not compare America’s economy with the economy associated with the Trump presidency but rather with that of the struggling nations of the world today:
“We’re having an inflationary story in every advanced economy in the globe,” Berstein said, “and in fact, inflation is historically elevated everywhere. So it is certainly not just one country’s fiscal or monetary policy,” Bernstein said.
Doubling down on the claim that the White House is on top of economic issues, Bernstein uttered the following “word salad”:
“I don’t think the White House missed much at all in the following sense. We have a team, and I know you’re pushing in a different direction, but I think looking forward this is what’s most important. We have a team of seasoned people here led by a president who believes that we have to do everything. We don’t sit on our hands and hope that these forecasts for stable growth and inflation slowing down come true.”
Bernstein added: “He said that he’s ‘never done more’ in his career to help with supply. Head down, continue to do all we can to fight inflation. The fact that we have a highly competent group here working to do this is extremely different than just trying to spin things and say who got right what at what time.”
For that wisdom, Bernstein reportedly is paid $600,000 a year.
It seems that lying has not promoted favor with the people. According to a Quinnipiac poll taken last week, Biden’s approval rating has fallen to 33%.
On June 8, RTM noted Senator Kennedy’s comment on the economy: “I don’t know about where you live…but in my state, the price of gas is so high that it would be cheaper to buy cocaine and just run everywhere.”
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