On Friday, Democrat President Joe Biden responded to the bad news on inflation in the new Personal Consumption Expenditures (PCE price index report by trying to pretend it was good news and blaming Republicans for inflation – even though the inflation crisis began when Democrats controlled the House, Senate, and Presidency.

Biden’s comments came in response to the Bureau of Economic Analysis’ PCE report, the Fed’s preferred measurement of inflation, which showed that inflation rose 0.6 percent in January, more than economists expected.

“Today’s report shows we have made progress on inflation, but we have more work to do,” Biden began. “Annual inflation in January is down from the summer, while the unemployment rate has remained at or near a 50-year low and take-home pay has gone up.”

It should be noted that the national unemployment rate is being driven down by Republican-led states, while many Democrat-led states are still worse off than they were before the COVID-19 pandemic.

“We’ve also continued to make progress since the data in this report, with gas prices down again – now more than $1.60 since last summer’s peak after Putin’s unconscionable invasion,” Biden said, even though gas prices are still about 50% higher than they were when he entered office. “As I’ve long said, there may be setbacks along the way, but we face global economic challenges from a position of strength.”

Biden then blamed Republicans for opposing the so-called “Inflation Reduction Act,” which was a spending package primarily focused on climate that potentially worsened inflation.

“I have a different vision. When I travel the country, I see optimism for this year and the years ahead. The optimism of families with just a little bit more breathing room thanks to our work to get workers back into jobs,” Biden said, even though the real wages of American workers have fallen drastically since he took office due to inflation.

“But the fight is not over. We must finish the job in transitioning to stable and steady growth that benefits all Americans, while laying the foundation for strong and shared growth for years to come,” Biden concluded.

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