Washington, DC (August 11, 2022) – Yesterday, in response to the Consumer Price Index (CPI) showing inflation at 8.5% President Biden made a statement claiming, “our economy had 0% inflation in the month of July.” Late last night, the official White House Twitter page doubled down on Biden’s words, making the same claim.
“First President Biden assures us that, ‘we’re not in a recession’ following our second negative GDP report and now, after yesterday’s CPI report clearly showed year over year inflation is at 8.5%, he is claiming that our economy had 0% inflation in July. It truly boggles the mind.
The administration cannot have it both ways. They are blatantly lying to the American people by misrepresenting economic indicators to give the appearance that things are improving while simultaneously insisting that inflation is so dire, we need to spend hundreds of billions of dollars to combat the problem.
The reality is that they are using the economic uncertainty that small businesses and everyday Americans are struggling through as an excuse to push a monstrous spending bill through that will among other things, weaponize the IRS and increase taxes on those that can afford it least. Biden’s claim that July saw zero percent inflation is as true as the claim that the Inflation Reduction Act will actually reduce inflation.”