{"id":1640104,"date":"2022-09-13T13:35:01","date_gmt":"2022-09-13T17:35:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1640104"},"modified":"2022-09-13T13:35:19","modified_gmt":"2022-09-13T17:35:19","slug":"cringe-optics-biden-takes-victory-lap-during-economic-nosedive","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cringe-optics-biden-takes-victory-lap-during-economic-nosedive\/","title":{"rendered":"Cringe Optics: Biden Takes Victory Lap During Economic Nosedive"},"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\">18<\/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%2Fcringe-optics-biden-takes-victory-lap-during-economic-nosedive%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=1640104&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\/09\/AP22255744714375-e1663085229936.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<h5>Chanel Rion \u2014 OAN Chief White House Correspondent<br \/>UPDATED 10:27 AM PT \u2013 Tuesday, September 13, 2022<\/h5>\n<p><i><span>An optically difficult day for the White House \u2013\u00a0as the economy tanks\u00a0at news of\u00a0roaring inflation\u00a0and a\u00a0higher than expected CPI rate,\u00a0Biden staffers assembled the President for a photo op taking the bow for his inflation reduction efforts.<\/span><\/i><\/p>\n<p>The White House found itself stuck in a corner Tuesday. Having slated the\u00a0day for \u201cthousands of supporters\u201d\u00a0to stand in \u201ccelebration\u201d of Biden\u2019s efforts to fight inflation, the Consumer Price Index delivered a shocking blow.<\/p>\n<p>August inflation rates surged against\u00a0expectations\u00a0bringing the average inflation rate \u2013 excluding food and energy \u2013 to 8.3%. This is double the core CPI forecast. But in spite of the evidence, the White House plowed forward, taking a victory lap:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">With the Inflation Reduction Act, the American people won and the special interests lost.<\/p>\n<p>Today, we celebrate its passage at the White House. <a href=\"https:\/\/t.co\/FQDRLkKK1m\">pic.twitter.com\/FQDRLkKK1m<\/a><\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1569694713988489225?ref_src=twsrc%5Etfw\">September 13, 2022<\/a><\/p>\n<\/blockquote>\n<p>Many economists \u2013 and in turn the White House \u2013 expected the August CPI\u00a0numbers to actually go down due to the decline in oil and gas prices from the previous month. Gas is down nearly 10%. But Tuesday\u2019s numbers proved not only was this\u00a0drop in gas prices not enough to stave off economic woes \u2013 but the economy is deteriorating at a much faster rate than expected. The\u00a0average American can\u2019t keep up.<\/p>\n<p>The typical American household now pays $460 MORE per month on the same goods and services they were paying for last year, according to the Wall Street Journal.\u00a0That\u2019s over $5500 more per year per household.<\/p>\n<p>President Biden, ahead of his Inflation Reduction Act signing event at the White House, was forced to release a statement insisting his policies are taking America in the right direction\u00a0despite the evidence:<\/p>\n<p><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/09\/13\/statement-of-president-joe-biden-on-consumer-price-index-in-september\/\">Today\u2019s data show more progress in bringing global inflation down in the US economy.\u00a0 Overall, prices have been essentially flat in our country these last two months: that is welcome news for American families, with more work still to do.\u00a0 Gas prices are down an average of $1.30 a gallon since the beginning of the summer.<\/a><\/p>\n<p>Undergirding Biden\u2019s insistence of \u201cprogress\u201d in the US economy are three big narratives;\u00a0\u00a0real wages are up, gas is down, and inflation was not cause by Biden\u2019s $1.9 Trillion\u00a0spending bill.<\/p>\n<p>But wages are not up:\u00a0Average hourly pay, adjusted for inflation are <em>down<\/em>\u00a0-2.8%.<\/p>\n<p>A closer look at\u00a0individual necessities only make the\u00a0picture worse;\u00a0Eggs are up nearly 40% since last year,\u00a0food and\u00a0basic costs are gobbling up any small gains being made in US salaries.\u00a0The\u00a0US economy has now suffered\u00a017 consecutive months under Biden spending policies where inflation outpaced wage growth.<\/p>\n<p>That basic costs for virtually everything are spiking significantly\u00a0cancels out any good news on the gas front. While gas prices have gone\u00a0down 10%\u00a0in the last month, compared to this time last year, gas prices are\u00a0still up a whopping 25% year over year. Utilities are up 33% since last year.<\/p>\n<p>Even the head of Obama\u2019s Council of Economic Advisors\u00a0confronted the bad news bluntly: \u201cCPI report not pretty.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">CPI report not pretty. Headline fine (0.1% CPI for Aug or a 1.4% annual rate in that month, with prices up 8.3% over the last year).<\/p>\n<p>Problem is excluding volatile food and energy and was ugly (0.6% for Aug or a 7.0% annual rate).<\/p>\n<p>Broad-based relief not coming. <a href=\"https:\/\/t.co\/WVODxYmrYm\">pic.twitter.com\/WVODxYmrYm<\/a><\/p>\n<p>\u2014 Jason Furman (@jasonfurman) <a href=\"https:\/\/twitter.com\/jasonfurman\/status\/1569672290849128449?ref_src=twsrc%5Etfw\">September 13, 2022<\/a><\/p>\n<\/blockquote>\n<p>And since the passage of Biden\u2019s $1.9 Trillion spending bill, inflation has only been aggravated month after month contradicting the\u00a0Biden position insisting inflation would only be temporary:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Happy 1 year anniversary of Biden lying about inflation only being &#8220;temporary.&#8221; <a href=\"https:\/\/t.co\/p4KZO9eDSx\">pic.twitter.com\/p4KZO9eDSx<\/a><\/p>\n<p>\u2014 Tim Young (@TimRunsHisMouth) <a href=\"https:\/\/twitter.com\/TimRunsHisMouth\/status\/1549400306198396938?ref_src=twsrc%5Etfw\">July 19, 2022<\/a><\/p>\n<\/blockquote>\n<p>Just last month, Biden was mocked for claiming there was zero inflation \u2013 touting a slight decrease in inflation that has since been cancelled out.<\/p>\n<p>Tuesday, Biden took to social media to encourage Americans to join him in celebrating his Inflation Reduction Act.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Exactly four weeks ago, I signed the Inflation Reduction Act into law.<\/p>\n<p>So today, we&#8217;re celebrating.<\/p>\n<p>Tune in at 3 PM ET as I deliver remarks and welcome the leaders and advocates who made it happen to the People&#8217;s House.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1569711466143416323?ref_src=twsrc%5Etfw\">September 13, 2022<\/a><\/p>\n<\/blockquote>\n<p>At the time of Biden\u2019s tweet,\u00a0the\u00a0Nasdaq plunged\u00a0by over 840 points into the red.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chanel Rion \u2014 OAN Chief White House CorrespondentUPDATED 10:27 AM PT \u2013 Tuesday, September 13, 2022 An optically difficult day for the White House \u2013\u00a0as the economy tanks\u00a0at news of\u00a0roaring<\/p>\n","protected":false},"author":79,"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-1640104","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\/1640104","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1640104"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1640104\/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=1640104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1640104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1640104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}