{"id":1510301,"date":"2022-06-10T11:34:49","date_gmt":"2022-06-10T15:34:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1510301"},"modified":"2022-06-10T11:35:21","modified_gmt":"2022-06-10T15:35:21","slug":"while-biden-spreads-fastest-growing-economy-lie-americans-fight-a-new-40-year-inflation-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/while-biden-spreads-fastest-growing-economy-lie-americans-fight-a-new-40-year-inflation-high\/","title":{"rendered":"While Biden Spreads \u2018Fastest-Growing Economy\u2019 Lie, Americans Fight A New 40-Year Inflation High"},"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\">26<\/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%2Fwhile-biden-spreads-fastest-growing-economy-lie-americans-fight-a-new-40-year-inflation-high%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=1510301&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\/2022\/06\/pexels-erik-scheel-95425.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>President Joe Biden has <a href=\"https:\/\/thefederalist.com\/2022\/03\/08\/heres-the-full-list-of-every-lie-joe-biden-has-told-as-president-175-and-counting\/\" target=\"_blank\" rel=\"noreferrer noopener\">repeatedly insisted<\/a> that the United States has the \u201c<a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1534763365628788736?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1534763365628788736%7Ctwgr%5E%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Fthefederalist.com%2F2022%2F03%2F08%2Fheres-the-full-list-of-every-lie-joe-biden-has-told-as-president-175-and-counting%2F\" target=\"_blank\" rel=\"noreferrer noopener\">fastest-growing economy in the world<\/a>,\u201d but unless the growth he\u2019s talking about is the inflation percentage increasingly crippling American consumers, he\u2019s extremely wrong. <\/p>\n<p>On top of gas prices <a href=\"https:\/\/thefederalist.com\/2022\/06\/09\/biden-white-house-shrugs-as-its-energy-policies-drive-gas-prices-to-record-high-4-97\/\" target=\"_blank\" rel=\"noreferrer noopener\">teetering on the edge of $5 a gallon on average<\/a>, a nationwide formula shortage <a href=\"https:\/\/thefederalist.com\/2022\/05\/12\/the-fda-was-making-it-difficult-for-moms-to-get-baby-formula-long-before-the-supply-chain-imploded\/\" target=\"_blank\" rel=\"noreferrer noopener\">triggered by the government<\/a>, and an ongoing supply-chain crisis, a new report from the Bureau of Labor Statistics found that <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">U.S. consumer inflation reached an 8.6 percent annual rate in May<\/a>.<\/p>\n<p>Against <a href=\"https:\/\/www.cnbc.com\/select\/inflation-when-will-prices-go-down\/\" target=\"_blank\" rel=\"noreferrer noopener\">economists\u2019 overly optimistic predictions about dropping prices<\/a>, that\u2019s the fastest inflation has risen since December 1981 and up 0.3 percent since April. Most of the price bloating in May centered on two of Americans\u2019 most essential living needs: groceries, which increased 11.9 percent since May of 2021, and energy, which increased 34.6 percent from a year earlier. Shelter costs were also up 5.5 percent compared to May of last year.<\/p>\n<p>As a result, <a href=\"https:\/\/www.marketwatch.com\/story\/consumer-sentiment-plunges-to-record-low-in-june-umich-survey-11654870023\" target=\"_blank\" rel=\"noreferrer noopener\">consumer confidence is crashing<\/a> at record speeds. Despite buyers\u2019 concerns about rising prices that are <a href=\"https:\/\/thefederalist.com\/2022\/04\/27\/the-inflation-draining-your-wallet-grocery-cart-and-gas-tank-is-far-steeper-than-8-percent\/\" target=\"_blank\" rel=\"noreferrer noopener\">often far steeper<\/a> than what the Bureau of Labor Statistics estimates, the White House is still refusing to acknowledge that the U.S. is in a full-blown economic crisis.<\/p>\n<p>White House Press Secretary Karine Jean-Pierre told reporters in a press briefing on Tuesday that Biden\u2019s administration believes \u201cthe economy is in a better place than it has been historically.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/figure>\n<p>Jean-Pierre even said\u00a0that Biden believes his $1.9 trillion American Rescue Plan actually helped the economy instead of contributing to its problems, a lie that even some members of the <a href=\"https:\/\/www.vox.com\/23036340\/biden-american-rescue-plan-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">corporate media reject<\/a>.<\/p>\n<p>Biden, of course, still blames <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/03\/31\/fact-sheet-president-bidens-plan-to-respond-to-putins-price-hike-at-the-pump\/\" target=\"_blank\" rel=\"noreferrer noopener\">Russia\u2019s Vladimir Putin for Americans\u2019 wallet woes<\/a>. He even penned a lie-riddled\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/my-plan-for-fighting-inflation-joe-biden-gas-prices-economy-unemployment-jobs-covid-11653940654?mod=opinion_lead_pos5\" target=\"_blank\" rel=\"noreferrer noopener\">op-ed<\/a>\u00a0for The Wall Street Journal last week outlining what is supposed to be his plan to fight inflation.  <\/p>\n<p>\u201cSo, while it\u2019s true that inflation is a complex, multifaceted problem that isn\u2019t entirely any person\u2019s or administration\u2019s or event\u2019s fault, it is\u00a0fair to say that the Biden administration, from top to bottom, was as wrong as an administration could be on the issue,\u201d Federalist Senior Editor David Harsanyi <a href=\"https:\/\/thefederalist.com\/2022\/06\/01\/yes-biden-deserves-the-blame-for-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">wrote in a recent column<\/a>. \u201cThey ignored it. They weren\u2019t prepared. They exacerbated it. At the very least,\u00a0Biden deserves a lot more credit for inflation than he does economic growth. If you\u2019re going to take credit for the latter, you deserve blame for the former.\u201d<\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Jordan Boyd is a staff writer at The Federalist and co-producer of The Federalist Radio Hour. Her work has also been featured in The Daily Wire and Fox News. Jordan graduated from Baylor University where she majored in political science and minored in journalism. Follow her on Twitter @jordanboydtx.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden has repeatedly insisted that the United States has the \u201cfastest-growing economy in the world,\u201d but unless the growth he\u2019s talking about is the inflation percentage increasingly crippling<\/p>\n","protected":false},"author":490,"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-1510301","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\/1510301","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\/490"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1510301"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1510301\/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=1510301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1510301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1510301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}