Economy
Biden Complains About Being Blamed For Inflation Crisis: ‘I’m Sick Of This Stuff’
“We’re on track right now … to be the first president in history to lower the deficit by over 1 trillion dollars in one year,” Biden claimed.
During a speech at the 2022 House Democratic Caucus Issues Conference on Friday, Democrat President Joe Biden gave an emotional speech about the American people’s unfavorable view on his economic performance, saying Americans are wrong to think that government spending is the reason for the record high inflation rates.
“Last year — because of all you did — we reduced the deficit by 360 billion dollars,” Biden said. “We the Democrats — while the economy grew!”
“We’re on track right now … to be the first president in history to lower the deficit by over 1 trillion dollars in one year,” he claimed.
“So, I’m sick of this stuff!” Biden said. “We have to talk about it because the American people think the reason for inflation is government spending more money. It’s simply not true.”
Biden has claimed on multiple occasions that he was the first president to lower the deficit by $1 trillion. However, as explained by The Wall Street Journal, that embellishment is “one for the ages” which assumes he is unable to actually enact his agenda – like passing his Build Back Better plan or additional COVID relief he has been pushing for.
“He’s also using the fiscal 2020 budget as his benchmark. Congress passed $2 trillion in Covid relief in March 2020 to prevent a recession. Both parties piled on $900 billion more that December, and Democrats in March 2021 ladled out nearly $2 trillion more. The deficit is declining because Congress blew it out for two years,” The Wall Street Journal wrote. “Revenues have been surging thanks to strong corporate profits, capital gains, and rising nominal incomes. Inflation is always good for government coffers. Receipts are up 28% during the first four months of this fiscal year. But the Congressional Budget Office still projects deficits to exceed $1 trillion on average over the next decade.”
Additionally, as explained by economist John Cochrane, the current inflation crisis – which is at its highest level in 40 years – is directly attributable to government spending. According to The Wall Street Journal, Cochrane “traces the present inflation to the pandemic and the government’s response. Starting in March 2020, ‘the Treasury issued $3 trillion of new debt, which the Fed quickly bought in return for $3 trillion of new reserves.’ The Treasury then sent checks to people and businesses, later borrowing another $2 trillion and sending more checks. Overall federal debt rose nearly 30%. ‘Is it at all a surprise,’ Mr. Cochrane asks, ‘that a year later inflation breaks out?’”
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Jim Morris
March 14, 2022 at 12:08 pm
Biden has ruined the economy, increased the federal deficit by $5 trillion (when you count interest on the money), he anxious to spend trillions more, he’s somehow deluded into thinking this will lower inflation (obviously he never took Econ 101 as a freshman in college) and he’s resided over crisis after crisis during his 14 months in office. He’s a national disgrace who’s senile and combating the onset of dementia.
David Morin
March 14, 2022 at 12:23 pm
You don’t pay off your deficit on the backs of a struggling American society. There are ways to do it, but you need to make our economy stable first. You would be smart to freeze these gas prices and get those pipelines reopened.
If you need help, I’m sure you have Donald Trumps Cell Phone Number ! He could guide you in straightening this out of control ship.
Moira
March 14, 2022 at 1:50 pm
Biden is discovering that the buck stops with him ! He must be thinking “I should have stayed in my basement “!
Opinari
March 14, 2022 at 1:56 pm
So, blundering Biden is “…Sick of this Stuff”? Well, I would be willing to bet most US citizens are “sick of HIS stuff,” even more so. Biden is a dense reprobate, proxy-president with no logic abilities or sense of direction. He lies about much then denies and promises then reneges. With him being president, the US is in dire straits. Of course, with the chain of command for his position, we would fair no better. We could have Cackling Kamala or Polluted Pelosi.
Grace Southern
March 14, 2022 at 4:01 pm
Biden is a very depraved man with dementia, and he sounds like a Communist.
Grs43
March 15, 2022 at 9:42 am
So millions of Americans a wrong. You are president. I always thought the buck stops at the top. Quit making excuses and do something.
Johnny
March 15, 2022 at 12:51 pm
He’s Delusional !
Clay
March 15, 2022 at 12:55 pm
Joe, You did it. Own it.
Nancyelizabeth Green
March 15, 2022 at 2:53 pm
A coward and a liar!
Worst president ever! Making Obama look “competent!”
Merilee Grulli
March 15, 2022 at 4:32 pm
It’s not surprise at all- except to the current administration. I’m not sure where the biggest failure is anymore. I thought it was COVID, then I thought it’s the inflation we’re living in, but I think foreign policy is still the biggest failure. Putin is leveling Ukraine, and we keep doing too little too late. Biden’s weakness is provocative. Strength is not.
John Boyer
March 15, 2022 at 5:05 pm
Ol’ joe is getting a bit pissy.
AARON R GAYDEN
March 16, 2022 at 1:30 am
I am not thinking about government spending. I am thinking about how much I’m suddenly spending to get to around these days. Or to eat. I am also thinking about what CA Democrats did in 2020 to make it illegal for me to ply my trade the way I have my whole adult life, through AB5. I am wondering what the Feds have up their sleeve with the PRO Act all of which Massa Brandon signed off on. None of which helps freelancers, independent contractors or small business owners or anyone other than UNION LEADERS. (NOT MEMBERS) I’d just like for the Democrats to stop stabbing their constituents in the back and the rest of us in the face…
Carlos J Claudio
March 16, 2022 at 12:22 pm
Go Brandon!
Conrad Agusti
March 16, 2022 at 4:58 pm
Yes Pinocchio the puppet Biden you claimed that you’re tired of this stuff! Well how do think we morons feel about you? I guess that l might be one of those freaking MORONS because if you think that I believe anything you say then l must admit that I am a moron, for now l just have 3 words for you “F@CK YOU BIDEN”🎵🎶 “COME ON MAN” 🖕🇺🇸
Marianne Louise Garvens
March 17, 2022 at 2:20 pm
Printing more money puts more ‘dollars’ into an economy but they are worth less because they are ‘guaranteed’ against a finite amount of tangible assets!
It’s not ‘rocket science’
You can’t just print more money when you play Monopoly – you must manage the money/assets that you have!
Markets and the ‘value of the dollar’ determine price
Mary
March 18, 2022 at 6:51 am
Biden is a
Biden is a SOB and he an Harris need to go along with Pelosi. They are traitors to the US.
S
ArmedPatriot
March 21, 2022 at 7:54 am
Liar, liar pants on fire…
Robert w Coad
March 22, 2022 at 1:07 pm
YOU ARE ABSOLUTELY TO BLAME FOR ALL OF THIS SHIT THAT YOU CAUSED YOU FRIGGIN IDIOT!!!!!!!!
Kent Robinson
March 26, 2022 at 12:54 pm
Did Little Lyin Slimy Joey Biden soil himself when he gave the speech?
Chris Garvey
April 7, 2022 at 5:49 pm
Inflation is defined as the expansion or “inflation” of the currency supply. As the newly created government money devalues each individual existing dollar, prices rise so inevitably that the price inevitable increases have come to be called “inflation”.
So Biden’s complaint that “people think the reason for inflation is government spending more money,” is a complaint that people properly understand that Biden has caused inflation.
Biden is a liar, or an idiot, or both.
Lin Knife Duren
April 9, 2022 at 1:58 pm
Dear President Joseph Biden
YOU ARE TOO BLAME FOR THIS INFLATION CRISIS!!!!!😡😡😡😡
TAKE IT ON THE CHIN LIKE A MAN!
Mark
April 13, 2022 at 2:01 pm
Way to go Joe!!!!!!!!!