About a year ago, President Biden’s chief of staff Ron Klain passed along predictions that in 2022 the inflation rate would dip well below three percent:
There are going to be transitory impacts of restarting an economy that was shut down.
But a key point in the Fed forecast today: inflation projected down to 2.1% in 2022. https://t.co/CvREtIdXxR
— Ronald Klain (@WHCOS) June 16, 2021
You might also remember Treasury Secretary Janet Yellen along with others in the Biden administration (including Biden) claiming inflation would be “transitory” and not last long.
Fast-forward to July of 2022 and reality tells a different story:
U.S. consumer prices surged 9.1% in June, the largest annual increase in more than four decades amid stubbornly high costs for gasoline, food and rent, cementing the case for another 75-basis-point interest rate hike by the Federal Reserve this month.
The larger-than-expected increase in the year-on-year consumer price index reported by the Labor Department on Wednesday also reflected higher prices for healthcare, motor vehicles, apparel as well as household furniture. The CPI increased by the most in nearly 17 years on a monthly basis.
However, time moves slowly, and that’s where compilation videos come in handy to show the evolution of political spin over time, and Biden and the Dems’ assurances about inflation have been proven to be a complete joke:
Two straight minutes of Democrats LYING about inflation pic.twitter.com/xd8uDqv5yK
— RNC Research (@RNCResearch) July 13, 2022
If these people were capable of embarrassment, they’d be embarrassed.
Trust the inflation experts, guys. This is absolutely devastating for the clueless Biden administration. Biden’s presidency would have been far better if he’d pulled a Costanza and just done the exact opposite of everything he thought he should do: pic.twitter.com/m0a01kSvDh
— Clay Travis (@ClayTravis) July 13, 2022
George Costanza would probably have headed up a more competent administration.
Answer: A LOT.
For any of you who may have forgot what this administration claimed about inflation just LAST year, here’s a stark reminder of how wrong and clueless they are. Watch for giggles… https://t.co/P5UntOGAGZ
— Brad Cain aka Lodi (@Lodi1Brad) July 13, 2022
And the lies just keep on coming.