Here are Biden's 5 career-killing lies about inflation
1: We are doing everything we can to reduce gas prices.
Just the opposite. The Biden administration came in with a plan to eliminate all fossil fuel consumption and production from their first day in office. New EPA rules, cancellation of needed pipelines and LNG terminals, and open threats to "bankrupt" the domestic industry have led to one million fewer barrels a day from peak-Trump, and higher prices at the pump.
2: Inflation is transitory.
That was the hope of the Biden economic team, but instead inflation has accelerated in every one of the last four months. Inflation was less than 2% when Trump left office.
3: Wages are rising for workers.
Sorry, even though wages are up five percent, with inflation at close to eight percent real take home pay is shrinking three percent for workers on average and that is more than any year in the last decade.
4: Inflation is due to Russia's invasion of Ukraine.
No inflation started rising just a few months into the Biden presidency - primarily because of the runaway federal spending and debt - almost none of which was paid for.
5: Electric vehicles will protect Americans from higher gas prices.
Sorry, only three percent of the cars on the road are battery-operated. That means 97 percent of us fill up at the gas tank and are paying nearly $4.50 a gallon. And with a Tesla costing $70,000, most middle class families can’t afford that either.
Runaway inflation is a prosperity killer, and it’s also a killer of political careers. If Biden doesn’t believe that, he should just look to the fate of Jimmy Carter.