The July inflation report was released this week and it confirmed that, yes indeed, "Bidenomics" still sucks:
Consumer prices showed a faster year-over-year increase in July compared to the previous month's annual gain, according to the latest data from the Bureau of Labor Statistics released Thursday morning.
The Consumer Price Index (CPI) rose 3.2% in July over the prior year, a slight acceleration from June's 3% annual increase. Prices were up 0.2% in July from the previous month, in line with June's 0.2% month-over-month increase.
Both measures were roughly in line with economist forecasts, according to data from Bloomberg.
However, the fact that prices continue to go up didn't prevent the Biden White House from trying to spike that ball by reminding everybody that, outside of the things they need to live such as food and gas/electricity, things are looking better than they were about 22 months ago when Biden was also in charge:
Today’s CPI report shows that our economy remains strong.
— Joe Biden (@JoeBiden) August 10, 2023
Annual inflation has fallen by around two-thirds since last summer, and inflation outside of food and energy has fallen to its lowest level in any three-month period since September 2021.
If the Biden White House was being completely honest (as if) they would look at it this way:
Thank you so much for being in office while it got slightly less awful than the miserable standard you created.
— Anthony Bialy (@AnthonyBialy) August 11, 2023
This brings us to something that President Biden has been quoted as saying at a Dem fundraiser this week, and it won't surprise you but at least it's refreshing to hear Biden admitting that he lied:
When talking about the Inflation Reduction Act, Biden admitted “I wish I hadn’t called it that because it has less to do with reducing inflation than it has to do with providing alternatives that generate economic growth.”
— Chris Megerian (@ChrisMegerian) August 10, 2023
Yes, we've noticed that if anything the "Inflation Reduction Act" worsened inflation.
Yes, we know. https://t.co/8uwPVqgY8x pic.twitter.com/jz1ZVPgCEu
— Charles C. W. Cooke (@charlescwcooke) August 11, 2023
"You f***ed up. You trusted us." https://t.co/PC4I7pLith
— Dan McLaughlin (@baseballcrank) August 11, 2023
"But after all of the whoppers I've told and gotten away with, I thought at the time, 'what's one more?'" https://t.co/FO54D2FLXc
— Lionel Mandrake (@LMandrakeJr) August 11, 2023
And there are many who just keep believing the repeated BS.
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