The Biden administration misstates facts, misapprehends reality, or lies so often that it is hard to keep up with the misstatements. That is why I joked a few weeks back that we were running out of “Pinocchio wood” to award Biden 4 Pinocchios for all of his lies. One recent stretcher involves Biden’s delusional claim that inflation is zero. This really happened.
A few week ago Biden actually claimed the inflation rate was zero. Here is exactly what he said, “Today, we received news that our economy had 0% inflation in the month of July — 0%,” Biden said. “Here’s what that means: while the price of some things go up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month. I honestly cannot figure out if Biden was lying, is delusional, is just reading garbage on his teleprompter, or is bone-jarringly stupid. Inflation in July was somewhere between 8.5% and 9%. Inflation has not changed much in recent months: it remains alarmingly high, raising and reversing any wage gains and making life barely affordable in America. Inflation was not zero in July as Biden stupidly intoned; it was something like 8.5% or more. So what happened with Biden’s brain and message?
In July, the rate of inflation remained approximately flat. In other words, inflation did not go up or down significantly in July: it remained about the same – again at about 8.5%. So, it was the rate of increase in inflation that was zero in July. But we still had massive inflation and still do to this day.
Incidentally, one reason inflation may not be increasing is that Biden’s policies have forced the US into a recession, causing people to have less money and thus spend less money. I will write about this separately, but forcing the country into a recession, meaning that the economy is shrinking, not growing, is the dumb way to combat inflation. But that is Biden and those who advise him.
Biden’s false claim that there was no inflation in July is analogous to a spend thrift claiming that she had no credit card debt in July, even though she had a credit card balance of $40,000, but did not add further to her credit card debt in July. The truthful state of affairs is that this person has a grotesque amount of credit card debt, but did not add to it in July. The same is true of inflation in the US: we had a grotesque amount of inflation in July, but the rate of inflation did not increase measurably. The reader will have to decide if Biden was lying again, does not understand economics, is too stupid to govern, has stupid and dishonest advisors or some combination of things. But his comment about July’s inflation was nonsensical.
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