{"id":998465,"date":"2021-11-11T11:29:28","date_gmt":"2021-11-11T16:29:28","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=998465"},"modified":"2021-11-11T11:29:32","modified_gmt":"2021-11-11T16:29:32","slug":"biden-admits-his-2t-covid-stimulus-fueled-spike-in-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admits-his-2t-covid-stimulus-fueled-spike-in-inflation\/","title":{"rendered":"Biden Admits His $2T COVID Stimulus Fueled Spike In 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\">20<\/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-admits-his-2t-covid-stimulus-fueled-spike-in-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=998465&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>President Joe Biden on Wednesday acknowledged that his $1.9 trillion COVID-19 stimulus package has made it so \u201cpeople have more money now,\u201d and claimed that that provided fuel for the highest rate of inflation in more than 30 years.<\/p>\n<p>Although Biden pinned the problem on supply chain issues, calling it \u201cthe reason,\u201d he also conceded that the U.S. dollar is losing buying power.<\/p>\n<p>\u201cThe irony is people have more money now because of the first major piece of legislation I passed. You all got checks for $1,400. You got checks for a whole range of things,\u201d Biden said during a speech in Baltimore. \u201cIf you\u2019re a mom and you have kids under the age of 7, you get $300 a month and if it\u2019s over 7 to 17, you\u2019re getting $360 a month,\u201d he said. The White House later corrected that latter number to $250 per month.<\/p>\n<p>\u201cIt changes people\u2019s lives. But what happens if there\u2019s nothing to buy and you got more money to compete for getting [goods]? It creates a real problem,\u201d Biden said.<\/p>\n<p>Biden said with all that money floating around, the demand for goods is exceeding supply.<\/p>\n<p>\u201cOn the one hand, we\u2019re facing new disruptions to our supplies. At the same time, we\u2019re also experiencing higher demand for goods because wages are up as well as people have money in the bank. And because of the strength of our economic recovery, American families have been able to buy more products,\u201d Biden said.<\/p>\n<p>Biden also weirdly said that too many people temporarily are ordering goods online while not spending their money in their local communities at restaurants, bars, and stores.<\/p>\n<p>\u201cBecause of the strength of our American recovery American families have been able to buy more products. But guess what, they\u2019re not going out to dinner and lunch and going to local bars because of COVID. So what are they doing?\u201d he said.<\/p>\n<p>\u201cThey\u2019re staying home and ordering online and buying product. Well with more people with money buying product and less product to buy, what happens? The supply chain is the reason and the answer is you guys, and I\u2019ll get to that in a minute. What happens? Prices go up,\u201d the president said.<\/p>\n<p>Biden also said that \u201cmore products are being delivered than ever before \u2014 that\u2019s because people have a little more breathing room than they did last year. And that\u2019s a good thing. But it also means we\u2019ve got higher demand for<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden on Wednesday acknowledged that his $1.9 trillion COVID-19 stimulus package has made it so \u201cpeople have more money now,\u201d and claimed that that provided fuel for the highest rate of inflation in more than 30 years.Although Biden pinned the problem on supply chain issues, calling it \u201cthe reason,\u201d he also conceded that the U.S. dollar is losing buying power.\u201cThe irony is people have more money now because of the first major piece of legislation I passed. You all got checks for $1,400. You got checks for a whole range of things,\u201d Biden said during a speech in Baltimore. \u201cIf you\u2019re a mom and you have kids under the age of 7, you get $300 a month and if it\u2019s over 7 to 17, you\u2019re getting $360 a month,\u201d he said. The White House later corrected that latter number to $250 per month.\u201cIt changes people\u2019s lives. But what happens if there\u2019s nothing to buy and you got more money to compete for getting [goods]? It creates a real problem,\u201d Biden said.Biden said with all that money floating around, the demand for goods is exceeding supply.\u201cOn the one hand, we\u2019re facing new disruptions to our supplies. At the same time, we\u2019re also experiencing higher demand for goods because wages are up as well as people have money in the bank. And because of the strength of our economic recovery, American families have been able to buy more products,\u201d Biden said.Biden also weirdly said that too many people temporarily are ordering goods online while not spending their money in their local communities at restaurants, bars, and stores.\u201cBecause of the strength of our American recovery American families have been able to buy more products. But guess what, they\u2019re not going out to dinner and lunch and going to local bars because of COVID. So what are they doing?\u201d he said.\u201cThey\u2019re staying home and ordering online and buying product. Well with more people with money buying product and less product to buy, what happens? The supply chain is the reason and the answer is you guys, and I\u2019ll get to that in a minute. What happens? Prices go up,\u201d the president said.Biden also said that \u201cmore products are being delivered than ever before \u2014 that\u2019s because people have a little more breathing room than they did last year. And that\u2019s a good thing. But it also means we\u2019ve got higher demand for goods at the same time we\u2019re facing disruptions in the supplies to make those goods. This is a recipe for delays and for higher prices.\u201dBut he also said he understands Americans are frustrated.\u201cPeople are feeling it \u2014 they are feeling it,\u201d Biden said. \u201cDid you ever think you\u2019d be paying this much for a gallon of gas? In some parts of California they\u2019re paying $4.50 a gallon. That\u2019s why it\u2019s so important we do everything in our power to stabilize the supply chain.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":159,"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-998465","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\/998465","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\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=998465"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/998465\/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=998465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=998465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=998465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}