Biden slammed for bragging he is bringing prices down when they are UP

President Joe Biden on Monday touted his administration’s success in lowering the prices of gasoline, groceries and airline tickets over the past year, but received little thanks for his efforts. Republicans ridiculed his claims. “FACT: Since Biden took office, airline tickets are up 21%, Thanksgiving dinner is up 25% and gasoline prices are $0.86 per gallon higher,” the Republican National Committee said on X, the platform formerly known as Twitter.

It illustrates the difficulty Biden faces as he tries to sell what his administration sees as an economic good news story ahead of next year’s general election. Inflation may have slowed and some prices may have fallen since last year, but most prices are still higher than before the pandemic. While he said prices were still too high, he cited the cost of the average Thanksgiving dinner as evidence that business was improving. “Together we have made progress,” he said at the White House. “You know, from Turkey to air travel to a tank of gas, the costs have continued to drop.” His words are backed by evidence. To a certain extent.

According to the American Farm Bureau Federation, the average cost of a dinner for 10 people this year was $61.17, down 4.5 percent from the record high of $64.05 in 2022. But the price is still higher than in 2021, when the average was $53.31. “In fact, as a share of profits, this Thanksgiving dinner was the fourth cheapest on record,” Biden said. Gas prices have also fallen. The national average for a gallon is $3.25, up from $3.55 a year ago, according to AAA, and a 2022 high of more than $5. “We know that prices are still too high for too many things, that times are still too tough for too many families,” Biden said. “But we’ve made progress.”

He made his comments at the first meeting of his Supply Chain Resilience Council. His government says recent high inflation – which peaked at 9.1 percent last year before now falling to 3.2 percent – was caused by supply chain shrinking during the pandemic and Russia’s invasion of Ukraine, causing global energy prices to skyrocket. Republicans say inflation has spiraled out of control because of Biden’s stimulus spending. And when it comes to public perception, most consumers don’t see good news if inflation calms down while they are still paying much higher prices than before the pandemic.

Republican Senator Markwayne Mullin said: “Last year, Joe Biden’s broken policy agenda generated the highest inflation in four decades. Americans have suffered 33 months in a row of rising prices, with food costs rising every month since Biden took office. Americans aren’t buying the spin.’ The Republican National Committee also disagreed with Biden, saying gas prices had fallen. FACT CHECK: Under Joe Biden, gas prices have been above $3 per gallon for over 900 days in a row,’ it posted. Read the full story: https://www.dailymail.co.uk/news/article-12797659/Biden-prices-groceries-slammed-Thanksgiving-inflation.html?ito=msngallery

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