Today’s a day that ends in y, so White House Press Secretary Jen Psaki is gaslighting the public again. This time, President Biden’s top spokesperson was attempting to explain away surging 8.5% inflation—a major political liability for this administration—when she made the dishonest mishaps.
“Depending which data you look at, two-thirds to 70% of inflation data is the result of energy prices,” Psaki claimed during a Monday briefing. “A large part of that is the result of… President Putin’s invasion of Ukraine and the impact on the global energy markets.”
PSAKI: "I don't think anyone could've predicted a year ago" that inflation would soar to record highs.
…even liberal economists predicted it. pic.twitter.com/R8MrWHCc1i
— RNC Research (@RNCResearch) May 9, 2022
This part of Psaki’s speech is just straight-up false.
For one thing, inflation remains at 6.5% even when gas prices are factored out entirely. So, the 70% number she keeps parroting is simply not accurate. And while Putin’s horrific invasion of Ukraine has indeed disrupted global energy markets and led to higher gas prices over the last few months, gas prices were already rising over the last year—and inflation more broadly began all the way back in May 2021.
The press secretary went on to conclude that because today’s inflation is supposedly driven by Putin’s invasion, “I don’t think anybody could have predicted it a year ago.”
This is the most ridiculous part of Psaki’s entire remarks.
Countless free-market advocates warned that the federal government’s decision to print trillions of new dollars and run up multi-trillion-dollar budget deficits would fuel inflation. For example, here’s what former Congressman Justin Amash tweeted all the way back in March of 2020:
Economics is about life and death. Resources to sustain life don’t come from a government printing press; they come from productive activity.
I support cash relief to address the current shock, but continually infusing cash into an idle economy will primarily cause inflation.
— Justin Amash (@justinamash) March 23, 2020
Even liberal-leaning economists like ex-Obama official Larry Summers warned time and time again that the reckless policies being pushed over the last two years would lead to inflation. That’s right: President Biden had members of his own party warning him, and he still doubled down on the same failed approach, making it his first major act as president to push through a disastrous “stimulus” bill that woefully failed to stimulate the economy but did further stimulate inflation.
So, the Biden administration has no excuse. They were warned, and plenty of smart people did see this coming.
I can’t help but feel a bit bad for Psaki, though. As White House press secretary, it’s her job to do PR for this disastrous administration and a president who is a walking gaffe machine.
That’s… a herculean task. So, it’s no wonder Jen Psaki has such a hard time sticking to the facts.