Even after creating an unprecedented economic mess that resulted in 40-years high inflation, President Biden claimed that reducing inflation was his “top economic priority.”
In his speech from Los Angeles, Biden grilled energy companies for oil inflation, despite curbing America’s domestic oil production himself.
Biden Lies to his Audience
As President Biden went to great lengths to defend his own performance, he put the blame for surging inflation on Russian President Vladimir Putin once again.
Although Biden introduced taxes on average Americans himself, he criticized Putin for taxing food and gas.
The president was so frustrated he yelled at energy companies, even claiming “Exxon” earned “more money than God” in 2022.
President Biden calls out ExxonMobil:
“Exxon made more money than God this year … Exxon, start investing, start paying your taxes.” pic.twitter.com/VXGpvIaDHB
— The Recount (@therecount) June 10, 2022
He also schooled Exxon to start investing its money in other ventures and pay its taxes.
After deteriorating the economic situation of the country for so long, Biden only touted the one good month regarding prices, suggesting he managed to reduce the “core inflation” rate in April.
However, he did not mention that core inflation does not consider food and energy price hikes, which are the most prominent problems for Americans.
Although Biden reiterated his “Putin Price hike” narrative, he did not tell the audience inflation was surging even before the Russian invasion of Ukraine.
In February, the annual inflation hike was 7.9%, while it was 7.1% in January and 7% in December last year.
Biden Went Against Economics While Defending Himself
Biden also defied top economists of the world and claimed the solution to rising inflation lies in more government spending.
Since the start of Biden-induced inflation, top businessmen, including Jeff Bezos, have indicated stimulus packages of Biden skyrocketed the inflation.
These remarks of Biden went against his own opinion during November last year when he acknowledged inflation is happening due to rising social spending.
Back then, the president said if people had more money, everybody would rush to buy things, resulting in inflation.
Inflation hits 8.6% in May, a new forty year high, the highest so far in the Biden administration. “Experts,” who expected inflation to decline in May, were wrong. Again.
— Clay Travis (@ClayTravis) June 10, 2022
By addressing lawmakers, Biden stated Congress should pass bills to cut shipping costs, energy prices, and prescription drugs.
However, he ignored the elephant in the room once again by undermining his own inability to increase domestic oil production in the country.
He also tried to preach his political agenda of more taxation on Americans, adding Congress should introduce more taxes on wealthy and rich people.
While targeting the country’s shipping companies, Biden touted only nine shipping giants control over 90% of American imports from Asia, which should be regulated.
Meanwhile, as Biden was busy defending his poor performance, his own party’s Senator Maggie Hassan blasted him for not taking adequate measures to curb inflation at pumps.
Hassan is facing an extremely tough reelection this year, which prompted her to raise her voice against the president.
She asserted Biden could reduce taxes on gas, which would help Americans buy cheaper gas.