The White House has already begun doing damage control after a highly anticipated inflation report went viral on Tuesday.
A brutal headline inflation rate caused widespread panic throughout the White House as Biden’s comms team formulates a way to obfuscate the underlying realities most Americans struggle with on a daily basis.
Joe Biden and the Democrats’ agenda:
Highest inflation in 40 years. #Bidenflation
— GOP (@GOP) July 13, 2022
On Monday, White House press secretary Karine Jean-Pierre warned reporters of the “highly elevated” inflation numbers for June one day ahead of the report’s release.
Karine Jean-Pierre expects upcoming inflation numbers from June to be "highly elevated." pic.twitter.com/vXL0t3F1v4
— Townhall.com (@townhallcom) July 11, 2022
Meanwhile, gas prices rose above $5 per gallon in June for the first time in history, thanks to Biden’s energy policies and an ongoing military conflict in Ukraine. As of Tuesday, they had fallen to $4.66, which is high but a rapid decline from June levels.
Gas prices averaged $4.48 per gallon in May and shot up to an average of $4.92 last month, a nearly 10% increase. One official predicted that the spike would result in about a half-percentage-point bump in June’s month-over-month headline inflation.
The White House is focusing on “core” inflation, which is the CPI reading that has volatile food and energy prices stripped out. How convenient, especially since food and gas are the world’s most common necessities.
The Biden administration has also been keen on focusing on how inflation is not just elevated in the United States, but also in other developed countries around the world, all while blaming Putin for the economic catastrophe.
🚨🚨 NEVER FORGET 🚨🚨
Joe Biden said almost a year ago that inflation was "temporary."
U.S. inflation just skyrocketed to a new 41-year high of 9.1%. https://t.co/ixCRVDnM9v
— House Republicans (@HouseGOP) July 13, 2022
Biden has used the phrase “Putin’s price hike” to describe the phenomenon, a reference to the Russian leader Vladimir Putin.
On Tuesday, a White House official ran through levels of inflation being experienced abroad, calling the higher prices a “global challenge.” The official noted 7.7% headline inflation in Canada, 8.6% in Europe, and 9.1% in the United Kingdom.
Despite preparing reporters to brace for a high June inflation reading and highlighting the factors that might make the reading higher than current economic conditions, top White House officials are not yet ready to say that inflation has peaked.
One official said Tuesday that it’s “a little early” to declare that the U.S. is definitively at a peak in terms of energy prices, but noted that prices have declined over the past month — a welcome development.
In response to the scorching inflation, the Fed has been aggressively hiking interest rates. After its June meeting, when it was apparent that inflation had not peaked in May, the central bank jacked up interest rates by three-fourths of a percentage point, the most aggressive increase since 1994.
Nevertheless, it really doesn’t take an economic expert to understand the basic principles of supply and demand. Restrict the supply and prices skyrocket, flood the market and prices decline — it’s not rocket science.
What the Democrats have done is flood the market with cash by printing trillions upon trillions of dollars for proxy wars and social welfare spending, thus decreasing the value of the dollar while causing massive inflation. An immediate end to federal spending would improve most economic conditions, but we all know that’s an impossibility.
Author: Nolan Sheridan