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March 18, 2022

White House Criticized After President Deflects Blame for Inflation

By T. Thompson In Finance, Latest News with Comments Off on White House Criticized After President Deflects Blame for Inflation

President Joe Biden received criticism after saying the sky-high inflation is “largely” Russian President Vladimir Putin’s fault.

“A second big reason for inflation is Vladimir Putin,” Biden said. “From the moment he put his over one hundred and fifty thousand troops on the Ukrainian border, the price of gasoline in January went up 75 cents and Putin began amassing troops along the border.”

“Make no mistake, inflation is largely the fault of Putin,” he added.

But experts say the Biden administration’s $1.9 trillion American Rescue Plan initiated the rising inflation.

“The original sin was the $1.9 trillion American Rescue Plan, passed in March. The bill – almost completely unfunded – sought to counter the effects of the COVID pandemic by focusing on demand-side stimulus rather than on investment,” said Steven Rattner, a former Treasury Department official during the Obama administration. “That has contributed materially to today’s inflation levels.”

Fox News contributor Tammy Bruce addressed Biden’s attempts to deflect blame on an episode of The Faulkner Focus.

“These are the same people who have controlled our lives during the pandemic, and now they’re going to twist us, to move us into a shooting war…into rationing food in our own homes. How dare they? This is what has to change in November,” Bruce said.


Source:

Biden claims ‘inflation is largely the fault of Putin,’ not Democratic spending

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