Today’s a day that ends in y, so President Biden is gaslighting the public about the economy.
“America is better positioned to lead the world than we ever have been,” Biden claimed at a global summit Thursday morning. “We have the strongest economy in the world, our inflation rates are lower than other nations in the world.”
“Inflation is higher in almost every other country,” he later added. “We’re better positioned to deal with this than anyone.”
Biden falsely claims people don’t think America is heading in the wrong direction, U.S. inflation is low, and Americans are only angry because of Roe v. Wade being dropped pic.twitter.com/m5DoIFFdFK
— Tom Elliott (@tomselliott) June 30, 2022
This simply isn’t true.
The latest data show that average US consumer prices rose an astounding 8.6% over the last year, the biggest surge recorded since 1981. This is devastating for American families. And, while inflation is happening around the world, it’s actually particularly bad in the US.
We have a much higher inflation rate than most other advanced nations. For example, we have the highest inflation rate of any of the “G7” group of advanced nations—Japan, France, Italy, Canada, the United Kingdom, Germany, and America.
When you zoom out and look at the OECD more broadly, a larger group of more advanced nations, the US is still experiencing higher inflation than most other similar countries. There are some with higher rates, but they’re mostly less advanced or right near the Ukraine-Russia region and experiencing extreme economic disruption from the war.
Even the left-leaning PolitiFact has acknowledged that “the United States has seen its inflation rate spike higher than its most direct competitors.”
So, Biden’s claim that we’re doing better than most of our peers is actually the exact opposite of the truth. Yikes!
As the saying goes, facts are stubborn things. It’s understandable that President Biden wants to deflect attention away from the way inflation is robbing Americans under his watch. But we can’t let him do so by outright denying reality.