{"id":597523,"date":"2021-07-19T22:51:00","date_gmt":"2021-07-20T02:51:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=597523"},"modified":"2021-07-19T22:51:01","modified_gmt":"2021-07-20T02:51:01","slug":"joe-biden-attempts-to-quell-fears-over-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-attempts-to-quell-fears-over-inflation\/","title":{"rendered":"Joe Biden attempts to quell fears over 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%2Fjoe-biden-attempts-to-quell-fears-over-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=597523&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 id=\"attachment_2461480\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2461480\" class=\"wp-caption-text\">Joe Biden at the White House in Washington, D.C. (Evan Vucci\/AP)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 7:40 PM PT \u2013 Monday, July 19, 2021<\/h5>\n<p>Joe Biden attempted to downplay inflation concerns during a speech on his administration\u2019s handling of the economy. Speaking at the White House on Monday, Biden touted the highest economic growth rate in 40 years as the U.S. started to reopen from coronavirus lockdowns.<\/p>\n<p>However, there was a downside to that record growth as more consumers have flocked to the market, increased demand and sparked a rise in inflation. For the past four months, inflation has exceeded already high expectations.<\/p>\n<p>Biden also called on Congress to pass his massive infrastructure proposals, which would amount to more than $4 trillion in spending. Those two bills have been faced with roadblocks in the Senate as the White House has continued negotiations with GOP lawmakers on a smaller $973 billion bill.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Prices on everything from gas to groceries are skyrocketing. Inflation is hitting hard-working middle-class families the hardest.<\/p>\n<p>A key driver of these price increases and increased costs of living is crystal clear \u2192 massive increases in government spending by the Democrats.<\/p>\n<p>\u2014 Kevin McCarthy (@GOPLeader) <a href=\"https:\/\/twitter.com\/GOPLeader\/status\/1417135292230819849?ref_src=twsrc%5Etfw\">July 19, 2021<\/a><\/p>\n<\/blockquote>\n<p>The Democrats\u2019 larger $3.5 trillion dollar package would require \u201cyes\u201d votes from all 50 Senate Democrats and appeal to both the moderate and radical wings of the party. Experts say those massive spending bills would only accelerate the already alarming inflation rates.<\/p>\n<p>\u201cWhat we\u2019ve already got in the pipeline is gonna cause inflation,\u201d Former IMF Deputy Director Desmond Lachman explained. \u201cNow, if you add the infrastructure plan and families plan and it\u2019s not going to be properly financed with real taxes that restrain spending, then you\u2019re just going to be adding to the inflationary pressures.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The stock market falling is not surprising. The Biden Surcharge and inflation are catching up\u2014this is Biden\u2019s America, and we\u2019ve been sounding the alarm.<\/p>\n<p>\u2014 Sen. Marsha Blackburn (@MarshaBlackburn) <a href=\"https:\/\/twitter.com\/MarshaBlackburn\/status\/1417194424036171780?ref_src=twsrc%5Etfw\">July 19, 2021<\/a><\/p>\n<\/blockquote>\n<p>Despite the concerns, Biden insisted the surge in inflation was expected and added he plans to do whatever it takes to keep it in check for the long term.<\/p>\n<p>\u201cMy administration understands that if we were to ever experience unchecked inflation over the long term, that would pose a real challenge to our economy,\u201d he claimed. \u201cSo, while we\u2019re confident that isn\u2019t what we\u2019re seeing today, we\u2019re going to remain vigilant about any response that is needed.\u201d<\/p>\n<p>For fiscal year 2021, consumer prices rose by 5.4 percent and marks the highest increase in a year since 2008.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/dr-anthony-fauci-supports-calls-to-mask-up-children\/\">Dr. Anthony Fauci Supports Calls To Mask Up Children<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Joe Biden at the White House in Washington, D.C. (Evan Vucci\/AP) OAN NewsroomUPDATED 7:40 PM PT \u2013 Monday, July 19, 2021 Joe Biden attempted to downplay inflation concerns during a &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-597523","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\/597523","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=597523"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/597523\/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=597523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=597523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=597523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}