{"id":1552619,"date":"2022-07-13T13:34:30","date_gmt":"2022-07-13T17:34:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1552619"},"modified":"2022-07-13T13:34:32","modified_gmt":"2022-07-13T17:34:32","slug":"biden-pooh-poohs-unprecedented-inflation-spike","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pooh-poohs-unprecedented-inflation-spike\/","title":{"rendered":"Biden Pooh-Poohs Unprecedented Inflation Spike"},"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\">10<\/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-pooh-poohs-unprecedented-inflation-spike%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=1552619&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><\/div>\n<p>After the Bureau of Labor Statistics on Wednesday released figures showing a massive inflation spike in June, President Joe Biden\u00a0put out a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/07\/13\/president-biden-statement-on-cpi-inflation-in-june\/\" target=\"_blank\" rel=\"noopener\">statement<\/a>\u00a0in which he downplays the findings and takes no responsibility for the economy.<\/p>\n<p>Inflation <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" target=\"_blank\" rel=\"noopener\">shot up<\/a>\u00a0to 9.1 percent in June, per the BLS report, higher than the Dow Jones estimate. The figures, which include such day-to-day necessities as food and gasoline, show another month of the highest inflation rate in 40 years.<\/p>\n<p>Around two-thirds of Americans say Biden is either &#8220;responsible&#8221; or &#8220;very responsible&#8221; for inflation,\u00a0<a href=\"https:\/\/www.politico.com\/f\/?id=00000180-d7aa-d040-ad9f-dfaab67d0000&#038;nname=playbook-pm&#038;nid=0000015a-dd3e-d536-a37b-dd7fd8af0000&#038;nrid=0000014e-f115-dd93-ad7f-f91513e50001&#038;nlid=964328\" target=\"_blank\" rel=\"noopener\">polling<\/a> has found. Many economists, including former Obama administration officials, agree, as do <a href=\"https:\/\/www.newsweek.com\/majority-democrats-blame-joe-biden-record-inflation-poll-1717669\" target=\"_blank\" rel=\"noopener\">a majority of Democrats<\/a>. A majority of voters, meanwhile, <a href=\"https:\/\/freebeacon.com\/media\/americans-still-care-more-about-inflation-than-abortion\/\">say<\/a> inflation is the most important issue facing the country, worrying Democrats ahead of November&#8217;s midterms.<\/p>\n<p>&#8220;The numbers seemed to counter the narrative,&#8221; <a href=\"https:\/\/freebeacon.com\/biden-administration\/flashback-biden-insisted-inflation-wouldnt-be-here-for-long\/\">pushed<\/a> by Biden and other Democrats, that &#8220;inflation may be peaking,&#8221; CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/07\/13\/inflation-rose-9point1percent-in-june-even-more-than-expected-as-price-pressures-intensify.html\" target=\"_blank\" rel=\"noopener\">reported<\/a>. Biden first said in December that inflation had <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-says-us-inflation-has-likely-peaked-2021-12-10\/\" target=\"_blank\" rel=\"noopener\">peaked<\/a>.<\/p>\n<p>Biden in his statement admitted that inflation is &#8220;unacceptably high&#8221; but said the report for June is &#8220;out of date.&#8221; Inflation, he said, is a &#8220;COVID-related challenge, made worse by Putin&#8217;s unconscionable aggression.&#8221;<\/p>\n<p>The president did not mention his $2 trillion stimulus bill, which Federal Reserve economists have <a href=\"https:\/\/freebeacon.com\/biden-administration\/this-study-shows-how-bidens-stimulus-contributed-to-inflation\/\">found<\/a> is significantly responsible for inflation. Nor did he mention his cancellation of the Keystone XL gas pipeline and moratorium on new gas leases.<\/p>\n<p>Biden did mention that he wants to release oil from the United States&#8217;s strategic oil reserve. His administration sold roughly a million barrels from the reserve to a Chinese state-controlled company that has ties to Putin, the <em>Washington Free Beacon<\/em> <a href=\"https:\/\/freebeacon.com\/national-security\/biden-sold-a-million-barrels-from-us-strategic-petroleum-reserve-to-china-owned-gas-giant\/\">reported<\/a> Thursday.<\/p>\n<p>The president attempted to downplay the severity of inflation by pointing to last month&#8217;s relatively more favorable core inflation rate, which excludes food and energy prices. He did not mention that the core inflation rate also exceeded estimates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the Bureau of Labor Statistics on Wednesday released figures showing a massive inflation spike in June, President Joe Biden\u00a0put out a statement\u00a0in which he downplays the findings and takes<\/p>\n","protected":false},"author":894,"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-1552619","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\/1552619","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\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1552619"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1552619\/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=1552619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1552619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1552619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}