In one of his seemingly quite rare times speaking to a reporter in non-scripted fashion, President Joe Biden was asked about the state of the American economy and his policies. He went berserk, snapping at the reporter that his policies are effective, but giving no details as to that.
Particularly at issue was inflation. While inflation has gone down below 3% to the lowest it has been since the inflation disaster started in mid-2021, there has been no deflation, just lower levels of inflation. So, prices are not going down, just rising at a slower rate.
That has presented a controversy for the Biden Administration, as the Biden Administration claims its approach is effective in reducing inflation, while critics contend that Americans need lower prices, not just a lower rate of increases in prices.
It was on that side of the economic issues facing the country that the reporter pressed President Biden on August 14. During the press event, the reporter asked the elderly president, who has now dropped out of the 2024 race, “Has the U.S. beat inflation, Mr. President?”
President Biden didn’t really answer the question. Instead, he snapped that the United States is going to have an economic soft landing and that the media should report as much. He said, “We’re going to have a soft landing. My policies are working. Start writing that way, okay?”
Watch the incident here:
Inflation then started rising in mid-2021, with many arguing that inflation was a consequence of spending by both Trump and Biden during COVID-19. The inflation hit a peak in mid-2022 and has declined somewhat since then, with inflation in March of 2024 at about 3.5%. The previous month it had been 3.2%.
Former President Donald Trump attacked Vice President Harris over the inflation issue in a recent speech, saying, “Harris has just declared that tackling inflation will be a day one priority for her. But day one for Kamala was 3-1/2 years ago. Where has she been?”
The former President has also said, speaking about the price of inflation and how Americans see it in daily price, in a recent speech, “You’re paying the price for Kamala’s liberal extremism at the gas pump, at the grocery counter, and on your mortgage bill.”
President Biden, in a statement on the inflation situation in April, said, “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago. I have a plan to lower costs for housing—by building and renovating more than 2 million homes—and I’m calling on corporations including grocery retailers to use record profits to reduce prices.”
He added, “Fighting inflation remains my top economic priority. We’re making progress: wages are rising faster than prices, incomes are higher than before the pandemic, and unemployment has remained below 4% for the longest stretch in 50 years. But we have more to do: my agenda is lowering costs for prescription drugs, health care, student debt, and hidden junk fees. Rather than proposing solutions for hardworking families, Congressional Republicans want to slash taxes for billionaires and big corporations, while helping special interests and Big Pharma raise prices. I won’t let them.”
