FLASHBACK: Biden Said in July 2021 There’s ‘No Serious Economist’ Expecting Inflation. Guess What Happened Next?

So much for “transitory,” huh? The latest inflation data is in, and it shows that the surge in consumer prices is still going strong.

Released this morning, the latest Consumer Price Index shows that average consumer prices rose 7 percent from December 2020 to December 2021. That’s the highest level recorded since 1982! Per CNBC, the biggest price increases came in industries like gas, used cars, hotels, furniture, meat, and poultry… many essentials Americans rely on.

If this sounds familiar, it’s because it is. This is just the latest entry into a long series of data showing that price inflation is out of control and hurting American families.

With these horrible numbers in mind, it’s worth revisiting President Biden’s past comments. In July 2021, a few months after passing a massive, partisan “stimulus” bill, he downplayed the prospect of inflation.


“As our economy has come roaring back, we’ve seen some price increases,” the president said at the time. “Some folks have raised worries that this could be a sign of persistent inflation.  But that’s not our view.  Our experts believe and the data shows that most of the price increases we’ve seen are — were expected and expected to be temporary.”

“There’s nobody suggesting there’s unchecked inflation on the way — no serious economist,” Biden concluded.

Yeah… how’s that one working out, Joe?

For what it’s worth, many accomplished free-market economists did warn that trillions in unfounded stimulus and the Federal Reserve’s rampant money-printing would cause inflation.

President Biden just didn’t listen. And now, American families are paying the price.

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Brad Polumbo
Brad Polumbo
Brad Polumbo is a libertarian-conservative journalist and co-founder of Based Politics. His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor’s degree in economics from the University of Massachusetts Amherst.