{"id":998377,"date":"2021-11-11T11:13:33","date_gmt":"2021-11-11T16:13:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=998377"},"modified":"2021-11-11T11:13:37","modified_gmt":"2021-11-11T16:13:37","slug":"biden-says-supply-chain-issues-and-stimulus-checks-his-administration-gave-out-to-blame-for-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-says-supply-chain-issues-and-stimulus-checks-his-administration-gave-out-to-blame-for-inflation\/","title":{"rendered":"Biden Says Supply Chain Issues And Stimulus Checks His Administration Gave Out To Blame For 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\">32<\/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-says-supply-chain-issues-and-stimulus-checks-his-administration-gave-out-to-blame-for-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=998377&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>President Joe Biden said Wednesday that part of the reason for high inflation is that Americans \u201chave more money\u201d because of his administration\u2019s COVID-19 stimulus checks. He also blamed the issue on the ongoing supply chain crisis and a subsequent demand for goods.<\/p>\n<p>The Labor Department announced Wednesday morning that the Consumer Price Index (CPI) rose 0.9% for the month of October and 6.2% throughout the year, making it the highest rate in three decades. The announcement followed the <a href=\"https:\/\/dailycaller.com\/2021\/11\/05\/house-sends-infrastructure-bill-bidens-desk-after-11th-hour-agreement-between-liberals-moderates\/\">passage<\/a> of Biden\u2019s $1.2 trillion bipartisan infrastructure package and also comes amid the administration\u2019s push for his $1.75 trillion social spending package to pass Congress.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2021\/10\/18\/carl-icahn-says-the-market-over-the-long-run-will-certainly-hit-the-wall-because-of-money-printing.html\">Critics<\/a> have blamed the government for inflation, arguing that printing more money to help with the COVID-19 pandemic will have <a href=\"https:\/\/dailycaller.com\/2021\/11\/08\/inflation-consumer-expectation-new-york-federal-reserve\/\">long-term<\/a> consequences. More moderate Democrats, like West Virginia Sen. Joe Manchin,&nbsp; voiced <a href=\"https:\/\/dailycaller.com\/2021\/11\/10\/joe-manchin-democrat-chuck-schumer-inflation\/\">concerns<\/a> over the administration\u2019s push to spend money. Biden acknowledged this argument&nbsp; Wednesday, highlighting that \u201cthe first major piece of legislation\u201d he passed gave Americans across the country checks for $1,400. <strong><a href=\"https:\/\/dailycaller.com\/2021\/10\/20\/60-percent-americans-blame-biden-inflation\/\">(RELATED:&nbsp;Over 60% Of Americans Say Biden\u2019s Policies Are To Blame For Accelerating Inflation)<\/a><\/strong><\/p>\n<p>\u201cAnd the irony is: People have more money now because of the first major piece of legislation I passed,\u201d Biden said after detailing how global supply chains have helped lower costs for Americans but made the country \u201cmore reliant on what happens\u201d around the world.<\/p>\n<p>\u201cYou all got checks for $1,400. You got checks for a whole range of things. If you\u2019re a mom and you have kids under the age of 7, you\u2019re getting 300 bucks a month, and if it\u2019s over \u2013 over 7 to 17, you\u2019re getting $360 [sic] a month \u2013 like wealthy people used to when they\u2019d get back tax returns. It changes people\u2019s lives.\u201d<\/p>\n<p>\u201cBut what happens if there\u2019s nothing to buy and you got more money?&nbsp; You compete for getting it there.&nbsp; It creates a real problem,\u201d the president added.<\/p>\n<p>Biden continued on to say that Americans are not only \u201cfacing new disruptions to our supplies\u201d but also \u201cexperiencing higher demand for goods because wages are up\u201d and \u201cpeople have money in the bank.\u201d<\/p>\n<p><strong>WATCH:<\/strong><\/p>\n<p>\u201cAnd because of the strength of our economic recovery, American families have been able to buy more products,\u201d Biden said. <strong><a href=\"https:\/\/dailycaller.com\/2021\/11\/02\/rep-foxx-biden-rising-inflation\/\">(RELATED:&nbsp;\u2018People Are Rightfully Angry\u2019: Rep. Foxx Blames Biden For Surging Inflation From House Floor)<\/a><\/strong><\/p>\n<p>The president said he understands why the country is frustrated by the rising cost of goods and at one point remarked, \u201cDid you ever think you\u2019d be paying this much for a gallon of gas?\u201d<\/p>\n<p>Biden then argued that all will be well moving forward because of how Americans are living.<\/p>\n<p>\u201cThey\u2019re not going out to dinner and lunch and going to the local bars because of COVID. So what are they doing?&nbsp; They\u2019re staying home, they\u2019re ordering online, and they\u2019re buying product,\u201d Biden said. \u201cWell, with more people with money buying product and less product to buy, what happens? The supply chain\u2019s the reason, the answer is, \u2018you guys,\u2019 I\u2019ll get to that in a minute. But what happens? Prices go up.\u201d<\/p>\n<p>The reason prices are higher, Biden argued, is because of this increase in people buying product combined with the shortages. He said \u201cpeople have a little more breathing room than\u201d during the heart of the pandemic and suggested this is both good and bad.<\/p>\n<p>\u201cIt also means we\u2019ve got higher demand for goods,\u201d Biden said. \u201cAt the same time, we\u2019re facing disruptions in the supplies to make those goods. This is a recipe for delays and for higher prices.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden said Wednesday that part of the reason for high inflation is that Americans \u201chave more money\u201d because of his administration\u2019s COVID-19 stimulus checks. He also blamed the &#8230;<\/p>\n","protected":false},"author":125,"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-998377","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\/998377","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\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=998377"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/998377\/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=998377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=998377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=998377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}