President Joe Biden (D) tried to downplay during an interview that aired on Sunday the skyrocketing inflation rates that have erupted under his presidency, saying that people need to put things in “perspective.”
“Mr. President, as you know, last Tuesday the annual inflation rate came in at 8.3%. The stock market nosedived. People are shocked by their grocery bills,” Pelley said. “What can you do better and faster?
“Well, first of all, let’s put this in perspective,” Biden said. “Inflation rate month to month was just — just an inch, hardly at all.”
“You’re not arguing that 8.3% is good news,” Pelley said.
“No, I’m not saying it is good news. But it was 8.2% or — 8.2% before,” Biden said. “I mean, it’s not — you’re ac — we act — make it sound like all of a sudden, ‘My god, it went to 8.2%.’ It’s been —”
“It’s the highest inflation rate, Mr. President, in 40 years,” Pelley responded.
“I got that,” Biden snapped back. “But guess what we are. We’re in a position where, for the last several months, it hasn’t spiked. It has just barely — it’s been basically even.”
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