{"id":1511029,"date":"2022-06-11T13:20:54","date_gmt":"2022-06-11T17:20:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1511029"},"modified":"2022-06-11T13:21:10","modified_gmt":"2022-06-11T17:21:10","slug":"thanks-joe-republicans-blast-biden-over-record-high-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-joe-republicans-blast-biden-over-record-high-inflation\/","title":{"rendered":"\u2018Thanks, Joe\u2019: Republicans Blast Biden Over Record-High Inflation"},"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\">16<\/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%2Fthanks-joe-republicans-blast-biden-over-record-high-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=1511029&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>Republican officials reacted to <a href=\"https:\/\/www.dailywire.com\/topic\/inflation\">inflation<\/a> reaching a new <a href=\"https:\/\/www.dailywire.com\/topic\/economy\">four-decade high<\/a> by plastering the <a href=\"http:\/\/dailywire.com\/topic\/joe-biden\">Biden<\/a> administration\u2019s handling of the economy.<\/p>\n<p>The Consumer Price Index (CPI) rose 8.6% between May 2021 and May 2022, according to a Friday morning report from the U.S. Bureau of Labor Statistics. The news came one day after gas prices <a href=\"https:\/\/www.dailywire.com\/news\/gas-prices-hit-grim-national-average-of-5-per-gallon\">hit<\/a> $5 per gallon in the United States.<\/p>\n<p>In response to the poor economic news, President Joe Biden <a href=\"https:\/\/www.dailywire.com\/news\/president-biden-blames-vladimir-putin-for-record-high-inflation\">blamed<\/a> Russian President Vladimir Putin, and told lawmakers to make wealthy Americans and corporations \u201cpay their fair share\u201d in taxes. Republicans, however, agreed with the plurality of Americans in <a href=\"https:\/\/www.dailywire.com\/news\/poll-95-of-voters-say-inflation-is-somewhat-or-very-serious\">pinning the blame<\/a> on President Biden himself.<\/p>\n<p>\u201cInflation reaches another 40 year record high. Gas is $5 per gallon. Parents still can\u2019t find baby formula,\u201d Rep. Jim Jordan (R-OH) remarked. \u201cJoe Biden\u2019s America.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">Inflation reaches another 40 year record high.<\/p>\n<p>Gas is $5 per gallon.<\/p>\n<p>Parents still can\u2019t find baby formula.<\/p>\n<p>Joe Biden\u2019s America.<\/p>\n<p>\u2014 Rep. Jim Jordan (@Jim_Jordan) <a href=\"https:\/\/twitter.com\/Jim_Jordan\/status\/1535261633836204035?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>\u201cAmerica continues to struggle with runaway inflation,\u201d former Secretary of State Mike Pompeo offered. \u201cAnd all we hear from Washington DC is shifting the blame. How about focusing on the problem and offering real solutions that work?\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">America continues to struggle with runaway inflation. And all we hear from Washington DC is shifting the blame. How about focusing on the problem and offering real solutions that work?<\/p>\n<p>\u2014 Mike Pompeo (@mikepompeo) <a href=\"https:\/\/twitter.com\/mikepompeo\/status\/1535610802639609858?ref_src=twsrc%5Etfw\">June 11, 2022<\/a><\/p>\n<p>\u201cInflation is definitely NOT transitory. A dollar at the start of Biden\u2019s disastrous admin is now worth less than $0.90,\u201d Sen. Ron Johnson (R-WI) noted. \u201cBiden\u2019s inflation tax is costing families $5,000\/yr, hurting seniors on fixed incomes, and reducing the value of savings and retirement funds. Thanks, Joe.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">Inflation is definitely NOT transitory. A dollar at the start of Biden\u2019s disastrous admin is now worth less than $0.90.<\/p>\n<p>Biden\u2019s inflation tax is costing families $5,000\/yr, hurting seniors on fixed incomes, and reducing the value of savings and retirement funds.<\/p>\n<p>Thanks, Joe.<\/p>\n<p>\u2014 Senator Ron Johnson (@SenRonJohnson) <a href=\"https:\/\/twitter.com\/SenRonJohnson\/status\/1535280772390739969?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>\u201cInflation is through the roof, hitting 8.6% over the past year, the highest in 4 decades,\u201d Sen. Ted Cruz (R-TX) added. \u201cIt\u2019s no surprise Democrats are trying to distract from their miserable failures with primetime political stunts,\u201d he said in reference to the January 6 hearings.<\/p>\n<p dir=\"ltr\" lang=\"en\">Inflation is through the roof, hitting 8.6% over the past year, the highest in 4 decades.<\/p>\n<p>It\u2019s no surprise Democrats are trying to distract from their miserable failures with primetime political stunts. <a href=\"https:\/\/t.co\/P1Gnge2RHI\">https:\/\/t.co\/P1Gnge2RHI<\/a><\/p>\n<p>\u2014 Ted Cruz (@tedcruz) <a href=\"https:\/\/twitter.com\/tedcruz\/status\/1535284872968806400?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>\u201cInflation reached a 40-year high of 8.6% in May\u2013the highest total so far under the Biden regime,\u201d Rep. Andy Biggs (R-AZ) commented. \u201cYet, the White House is saying that our \u2018economy is in a better place than it has been historically.\u2019 This is a disgrace.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">Inflation reached a 40-year high of 8.6% in May\u2013the highest total so far under the Biden regime.<\/p>\n<p>Yet, the White House is saying that our \u201ceconomy is in a better place than it has been historically.\u201d<\/p>\n<p>This is a disgrace.<\/p>\n<p>\u2014 Rep Andy Biggs (@RepAndyBiggsAZ) <a href=\"https:\/\/twitter.com\/RepAndyBiggsAZ\/status\/1535247748362125313?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>Indeed, the White House has continued to view the economy through rose-colored glasses.<\/p>\n<p>\u201cWhat I\u2019m trying to say to you is that the economy is in a better place than it has been historically,\u201d White House Press Secretary Karine Jean-Pierre <a href=\"https:\/\/www.dailywire.com\/news\/biden-press-secretary-the-economy-is-in-a-better-place-than-it-has-been-historically\">said<\/a>. \u201cAnd so, we feel, here at this administration and other experts as well\u2026 we feel that we are in a good position to take on inflation. We are in a good position to really start really working on lowering prices.\u201d<\/p>\n<p>The United States economy, however, contracted at a 1.5% annualized rate during the first quarter of 2022. The U.S. Bureau of Economic Analysis associates recessions with two consecutive quarters of negative growth.<\/p>\n<p>Despite Jean-Pierre\u2019s claim that many experts are optimistic, several Democratic economists have pushed back against Biden\u2019s handling of economic policy.<\/p>\n<p>\u201cCorporate power is playing likely a very small role in the inflation that we\u2019re seeing right now,\u201d Jason Furman, a Harvard professor and former chair of President Barack Obama\u2019s Council of Economic Advisers, <a href=\"https:\/\/www.dailywire.com\/news\/even-obamas-former-economic-advisor-recognizes-corporate-greed-isnt-to-blame-for-high-inflation\">told<\/a> Bloomberg last month \u2014 a rebuke to the Democratic argument that inflation is coming from greedy corporations <a href=\"https:\/\/www.dailywire.com\/news\/former-obama-chief-economist-democratic-backed-anti-price-gouging-bills-wont-fix-inflation-would-likely-make-shortages-worse\">price-gouging<\/a> consumers.<\/p>\n<p>Even at the end of last year, Larry Summers \u2014 who served as Treasury Secretary under former President Bill Clinton and director of the National Economic Council under former President Barack Obama \u2014 <a href=\"https:\/\/www.dailywire.com\/news\/top-obama-economic-adviser-fears-recession-says-federal-reserve-was-too-late-on-addressing-inflation\">warned<\/a> about the inflationary impact of loose fiscal and monetary policy.<\/p>\n<p>\u201cIf I thought we could sustainably run the economy in a red-hot way, that would be a wonderful thing, but the consequence \u2014 and this is the excruciating lesson we learned in the 1970s \u2014 of an overheating economy is not merely elevated inflation, but constantly rising inflation,\u201d Summers said. \u201cThat\u2019s why my fear is that we are already reaching a point where it will be challenging to reduce inflation without giving rise to recession.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republican officials reacted to inflation reaching a new four-decade high by plastering the Biden administration\u2019s handling of the economy. The Consumer Price Index (CPI) rose 8.6% between May 2021 and May 2022, according to a Friday morning report from the U.S. Bureau of Labor Statistics. The news came one day after gas prices hit $5 &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1511047,"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-1511029","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\/1511029","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1511029"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1511029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1511047"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1511029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1511029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1511029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}