{"id":1107028,"date":"2021-12-10T18:28:51","date_gmt":"2021-12-10T23:28:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1107028"},"modified":"2021-12-10T18:28:52","modified_gmt":"2021-12-10T23:28:52","slug":"biden-calls-high-inflation-bump-in-the-road-blames-coronavirus-not-trillions-in-government-spending","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-high-inflation-bump-in-the-road-blames-coronavirus-not-trillions-in-government-spending\/","title":{"rendered":"Biden Calls High Inflation &#039;Bump in the Road&#039;; Blames Coronavirus, Not Trillions in Government Spending"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-calls-high-inflation-bump-in-the-road-blames-coronavirus-not-trillions-in-government-spending%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1107028&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/virus-outbreak-biden-president-joe-biden-speaks-south-court-auditorium-white-house-campus-wednesday-640x335-1.png\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">President Joe Biden addressed the Consumer Price Index report at the White House on Friday after showing the highest rate of inflation since 1982.<\/p>\n<p>\u201cIt\u2019s a real bump in the road, it does affect families,\u201d Biden said. \u201cWhen you walk in the grocery store and you\u2019re paying more for whatever you\u2019re purchasing. it matters. It matters to people.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Biden spoke to reporters about inflation after delivering remarks concluding his Summit for Democracy at the White House, appearing optimistic that inflation would fall.<\/p>\n<p>\u201cI think you\u2019ll see it change sooner, quicker, and more rapidly than most people think,\u201d Biden said.<\/p>\n<p>Prices in November rose by 6.8 percent from last year, <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/12\/10\/fastest-inflation-in-40-years-as-consumer-prices-soar-6-8-percent\/\">according<\/a> to the report, the fastest 12-month pace since 1982 and the sixth straight month of inflation above five percent.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The president argued that his multitrillion-dollar government spending agenda was not responsible for record inflation.<\/p>\n<p>\u201cThat\u2019s hard for people to think about right now. Because inflation is up and there\u2019s a direct correlation in most people\u2019s minds,\u201d Biden said, noting that people automatically think that inflation is the result of government spending more money.<\/p>\n<p>\u201cWell that\u2019s not the reason for the inflation,\u201d he continued. \u201cThe reason for the inflation is we have a supply chain problem that is really severe.\u201d<\/p>\n<p>Economic analysts <a href=\"https:\/\/www.breitbart.com\/news\/explainer-why-us-inflation-is-so-high-and-when-it-may-ease-2\/\">believe<\/a> that direct payments to American consumers only increase demands for products and exascerbate shortages as businesses try to get production levels back to where they were before the pandemic.<\/p>\n<p>Biden also blamed the coronavirus pandemic for higher inflation and supply chain problems.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cAt the bottom of it all is COVID,\u201d he said. \u201cCOVID has had a serious impact on the ability to produce a whole lot of necessary products.\u201d<\/p>\n<p>Biden defended his proposal to spend an additional $1.75 trillion in his Build Back Better bill with additional government payments and entitlements for families, after already spending $1.9 trillion in his coronavirus rescue bill and $1.2 trillion in his infrastructure bill.<\/p>\n<p>\u201cIt\u2019s reducing costs for ordinary people,\u201d Biden said. \u201cBut in the meantime. In order to get that up and running, it\u2019s going to be all focused on the downside.\u201d<\/p>\n<p>The president noted the cost of used vehicles was up because of supply chain shortages hurting the production of new vehicles, indicating it was only temporary as supply chains improved.<\/p>\n<p>Biden also said that gas prices had already fallen below three dollars a gallon in many states, after reaching the highest per-gallon cost since 2014.<\/p>\n<p>\u201cThe point is it\u2019s not gone down quick enough. But it will,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden addressed the Consumer Price Index report at the White House on Friday after showing the highest rate of inflation since 1982. \u201cIt\u2019s a real bump in the &#8230;<\/p>\n","protected":false},"author":24,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1107028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1107028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1107028"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1107028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1107028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1107028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1107028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}