{"id":1289062,"date":"2022-02-10T10:38:27","date_gmt":"2022-02-10T15:38:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1289062"},"modified":"2022-02-10T16:37:01","modified_gmt":"2022-02-10T21:37:01","slug":"joe-biden-americans-should-have-peace-of-mind-amidst-record-setting-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-americans-should-have-peace-of-mind-amidst-record-setting-inflation\/","title":{"rendered":"Joe Biden: Americans Should Have \u2018Peace Of Mind\u2019 Amidst Record-Setting Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/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%2Fjoe-biden-americans-should-have-peace-of-mind-amidst-record-setting-inflation%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=1289062&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--><p>Speaking at an event in Culpeper, Virginia, on Thursday regarding his administration\u2019s efforts to bring down the cost of prescription drugs, President Joe Biden said that Americans should have \u201cpeace of mind\u201d amidst record-setting inflation because his party is working on making things more affordable for working-families in America.<\/p>\n<p>On Thursday, the Labor Department announced that inflation rose 7.5% compared with a year ago and is the highest it has been since 1982. Consumer prices also rose sharply, <a href=\"https:\/\/www.cnbc.com\/2022\/02\/10\/january-2022-cpi-inflation-rises-7point5percent-over-the-past-year-even-more-than-expected.html\">according<\/a> to CNBC. One expert told the financial news outlet that economic conditions are unlikely to get better anytime soon:<\/p>\n<blockquote>\n<p><em>That combination of higher food and housing prices \u201cunderlines our view that a rapid cyclical acceleration in inflation is underway and, with labor market conditions exceptionally tight, it is unlikely to abate any time soon,\u201d wrote Andrew Hunter, senior U.S. economist at Capital Economics.<\/em><\/p>\n<p><em>\u201cWhile we still expect more favorable base effects and a partial easing of supply shortages to push core inflation lower this year, this suggests it will remain well above the Fed\u2019s target for some time,\u201d he added.<\/em><\/p>\n<\/blockquote>\n<p>Regardless, at the event headlined by Congresswoman Abigail Spanberger, Biden insisted to voters that there is nothing to worry about. While the event was focused healthcare costs specifically, Biden took a moment to take a \u201cslight digression\u201d to comment on the latest economic news about inflation.<\/p>\n<p>\u201cLook again, slight digression, inflation is up. It\u2019s up,\u201d Biden said. \u201cAnd, coming from a family when the price of gas went up you felt it in the household, you knew what it was like, it matters.\u201d<\/p>\n<p>\u201cBut the fact, is that \u2014 if we are able to do the things that I am talking about here, it will bring down the cost for average families. It will bring down the cost for average families, I don\u2019t know why they keep moving and all that, but the fact is they keep down the cost for average families,\u201d Biden said, though it was unclear which \u201cthey\u201d he was referring to in his comment.<\/p>\n<p>Biden continued, saying, \u201cThe fact is we\u2019re in a situation now where you should have peace of mind. I know food prices are up, and we\u2019re working to bring them down. As I said, I grew up in a family where the price at the pump went up, you felt it. I understand. But these things are necessities.\u201d<\/p>\n<p>Biden also partially blamed Americans having less money to spend on prescription drug prices.\u201dEveryone has less money in their pockets today because \u2026 of health insurance\u2014it\u2019s more expensive for everyone. Prescription drugs are a big chunk of that,\u201d he proclaimed.<\/p>\n<p>While that might be true, Americans are currently feeling the cost of rising prices in nearly every other sector of the market as well. As pointed out by the Washington Post\u2019s Heather Long, the following items have increased in costs by the following percentages over the last year, <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\">according<\/a> to the Bureau of Labor Statistics :<\/p>\n<blockquote>\n<p><em>Used cars 40.5% y\/y<\/em><br \/><em>Gas 40%<\/em><br \/><em>Rental cars 29%<\/em><br \/><em>Utility gas 24%<\/em><br \/><em>Hotels 21%<\/em><br \/><em>Furniture 20%<\/em><br \/><em>Bacon 18%<\/em><br \/><em>Steak 17%<\/em><br \/><em>Peanut Butter 15.5%<\/em><br \/><em>Pork 14.5%<\/em><br \/><em>Fish 13%<\/em><br \/><em>Eggs 13%<\/em><br \/><em>New cars 12%<\/em><br \/><em>Electric 11%<\/em><br \/><em>Chicken 10%<\/em><br \/><em>Oranges 10%<\/em><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Inflation is at a 40-year high. Where are Americans seeing big price hikes?<\/p>\n<p>Used cars 40.5% y\/y<br \/>Gas 40%<br \/>Rental cars 29%<br \/>Utility gas 24%<br \/>Hotels 21%<br \/>Furniture 20%<br \/>Bacon 18%<br \/>Steak 17%<br \/>Peanut Butter 15.5%<br \/>Pork 14.5%<br \/>Fish 13%<br \/>Eggs 13%<br \/>New cars 12%<br \/>Electric 11%<br \/>Chicken 10%<br \/>Oranges 10%<\/p>\n<p>\u2014 Heather Long (@byHeatherLong) <a href=\"https:\/\/twitter.com\/byHeatherLong\/status\/1491772215876067329?ref_src=twsrc%5Etfw\">February 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>Biden\u2019s remarks can be seen here:<\/p>\n[embedded content]\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a&nbsp;<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.&nbsp;&lt;\/em<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Speaking at an event in Culpeper, Virginia, on Thursday regarding his administration\u2019s efforts to bring down the cost of prescription drugs, President Joe Biden said that Americans should have \u201cpeace &#8230;<\/p>\n","protected":false},"author":1,"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-1289062","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\/1289062","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1289062"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1289062\/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=1289062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1289062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1289062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}